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  • American Eagle Outfitters to exit 77kids brand

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  • Casual Male profit falls 45% on higher tax rate

    Canton, Mass. -- First-quarter net income dropped 45% at Casual Male Retail Group Inc., hurt by a higher tax rate. The chain’s tax rate jumped to 40.4% from 10.1% due to the reversal of a valuation allowance in fiscal 2011.

    The retailer reported Friday that it earned $2.3 million for the three months ended April 28. That's down from $4.2 million in the year-ago period.

    Revenue edged up slightly to $95.9 million from $95.8 million on better sales at its DXL and Casual Male XL stores and more money spent per customer.

  • Gap Q1 profit beats Street

    San Francisco -- Gap Inc. said Thursday that profit for the quarter ended April 28 was flat compared with the year-ago period, but its results beat Wall Street forecasts and prompted the retailer to raise its outlook for the year.

    Gap reported a profit of $233 million for the first quarter. Revenue rose 6% to $3.49 billion, beating analysts’ estimated $3.46 billion in revenue, and same-store sales rose 4%.

  • Cato Q1 profit edges up 4%, raises outlook

    Charlotte, N.C. -- Women’s apparel retailer Cato Corp. said Thursday that first-quarter profit rose 4% to $31.7 million, from $30.5 million last year, prompting the company to raise its full-year profit forecast.

    Sales inched up 1% to $275.3 million, but same-store sales dipped 2% among its Cato, Cato Fashions, Cato Plus, It's Fashion, It's Fashion Metro and Versona Accessories banners.

  • Pacific Sunwear narrows loss in Q1

    Anaheim, Calif. -- Pacific Sunwear of California reported Thursday a loss of $15.6 million, narrowed from a loss of $28.7 million in the year-ago period.

    Sales edged up to $173.8 million from $171.9 million, and same-store sales increased 1%.

  • Gap Inc. raises guidance sales, EPS growth in Q1

    SAN FRANCISCO — Gap Inc. raised its full year guidance Thursday after reporting first quarter sales and earnings per share growth. For the quarter ended April 28, sales increased 6% to $3.5 billion compared with $3.3 billion for the first quarter last year. The company’s first quarter comparable sales increased 4%. Net income for the first quarter was $233 million, flat compared with the first quarter last year. First quarter diluted earnings per share increased 18% to 47 cents compared with 40 cents last year.

  • Children's Place profit slides 19%, beats Street

    Secaucus, N.J. -- The Children's Place reported Thursday that net income for the first quarter slid 19% to $23.6 million from $29.1 million last year, but beat Wall Street forecasts and prompted the retailer to raise the low end of its full-year outlook.

    Revenue rose 2% to $438.5 million from $430.8 million, widely missing Wall Street’s expected $447.7 million in revenue, and same-store sales dipped 0.7%.
     

  • Talbots, Sycamore extend exclusivity agreement

    Hingham, Mass. -- The Talbots and Sycamore Partners extended the exclusivity period for the private equity firm's non-binding $214.6 million takeover offer to May 22.

    Talbots had entered into an exclusivity agreement with Sycamore on May 5, which was due to expire on May 15.

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