Skip to main content

FINANCE

  • Sales at Claire's fall in Q4

    Claire's Stores blamed currency exchange rates and store cloures for its decrease in revenue in the fourth quarter.

    The specialty retailer said that for the period ended Jan. 30, net sales were $402.6 million, a decrease of $9.8 million, or 2.4% compared to the fiscal 2014 fourth quarter. The company said the decrease was attributable to an unfavorable foreign currency translation effect of non-U.S. net sales, the effect of store closures, decreased shipments to franchisees and a 0.2% decrease in same-store sales.

  • Supplier survey bodes well for retail sales

    If the major suppliers of soft goods such as clothing and accessories to retail stores are a bellwether of the economy, then the coming months are looking to provide a jolt as 75% of these suppliers expect retail sales to significantly outpace the gross domestic product for the spring and summer shopping season.

    That’s one of the major findings of a new survey conducted by Capital Business Credit.

  • Department store giant cuts bonuses for top execs

    Macy’s CEO and other top executives are feeling the pain of the chain’s disappointment financial performance in 2015. The board decided to award no bonuses after the chain fell short of its sales, cash flow and earnings goals, Macy’s said in a regulatory filing, according to Bloomberg. [Bloomberg]

  • Lululemon strikes familiar growth pose

    To drive growth in 2016 Lululemon will again rely on a rapid pace of store expansion and an e-commerce fueled same-store sales increase after that combination enabled the company to achieve record results and surpass annual sales of $2 billion in 2015.

    Lululemon dramatically increased its selling space last year, adding 57 new stores to a base of 316 stores to end the year with 363 units. The surge in new store construction is understandable given that Lululemon’s sales per square foot of roughly $1,500 is among the highest in retail.

  • Restoration Hardware slips in Q4; sees new brand as $1 billion business

    Production and shipping delays related to its new collection of modern furniture, which it also has launched as a standalone business, are taking a toll on Restoration Hardware Holdings Inc. as the high-end retailer issued a weak outlook for the current quarter.

    Restoration Hardware (RH) reported its fourth-quarter earnings slid to $33.3 million, or 79 cents a share, from $42.5 million, or $1.02 a share, a year earlier. On an adjusted basis, the company earned 98 cents a share, which fell short of its own projection released in February.

  • Court rules Puerto Rico can’t gouge Walmart

    A court ruling struck down a provision adopted by Puerto Rico last year that tripled the tax revenue the debt-laden island extracted from Walmart, Reuters reported. [Reuters]

  • Foot Locker treads new territory on Wall Street

    Following a record performance in 2015, Foot Locker has become the newest member of the S&P 500 index, which bodes well for the performance of the company’s share price.

    After the close of trading on Friday, April 1, Foot Locker will replace oil and gas equipment services provider Cameron International as the newest constituent in the S&P 500 index, according to a statement by S&P Dow Jones Indices LLC, a part of McGraw Hill Financial. A spot on the S&P 500 index opened up after Cameron was acquired by Schlumberger Ltd.

  • Why Costco won’t have a problem with California’s $15 minimum wage

    In a history-making move that would have a direct impact on the retail industry and food service sector, the state of California has moved closer to raising the statewide minimum wage to $15 an hour by 2022.

X
This ad will auto-close in 10 seconds