Footwear

Columbus, Ohio – DSW Inc. met Wall Street expectations for profit but did not grow revenues as much as projected during a mixed second quarter of fiscal 2015.

Costs and expenses increased at a slower rate than sales, allowing net income to improve 9% to $37.61 million, from $34.33 million in the prior year period. Net sales increased 7% to $627.2 million, from $587.1 million. Same-store sales rose 1.8%.

Mike MacDonald, president and CEO, also attributed rising profits to merchandise selling strategy.

DSW says its investments in becoming a more “customer-centric” company are paying off, as the retailer reported sales and earnings growth in the second quarter.

 Specialty apparel retailer The Children’s Place Inc. saw its net loss grow and net sales drop in a difficult second quarter of fiscal 2015.

New York - Nine West Holdings Inc. is taking ownership of its Canadian brand assets, including 45 store leases.

The company has acquired the business operations of Sherson Group Inc., which previously held the exclusive rights to the Nine West, Anne Klein and Easy Spirit brands in Canada.

Nine West intends to continue providing these brands to customers across Canada at Nine West mall-based locations and Shoe Studio outlet stores, as well as at department stores.

New York – Foot Locker Inc. scored big in the second quarter of fiscal 2015 with profit and sales that exceeded Wall Street expectations. Net income was $119 million, a 33% increase from $92 million the same period the prior year.   Total sales climbed 3% to $1.69 billion from $1.64 billion. Same-store sales grew 9.6%. Falling selling, general and administrative (SG&A) expenses aided profit growth, while foreign currency fluctuation had a negative impact on sales growth.  

Birmingham, Ala. – Hibbett Sports Inc. missed Wall Street expectations for profit and sales in the second quarter of fiscal 2015. Net income fell 20% to $8.4 million from $7 million the same quarter the prior fiscal year.   An increase in store operating, selling and administrative expenses helped cut profit. Net sales rose 3% to $199.26 million from $193.92 million. Same-store sales dropped 1.1%.  

Hibbett Sports Inc. says a shift in back-to-school tax-free weekends was to blame for softness in same store sales in the second quarter.

The sporting goods retailer says net sales for the 13-week period ended Aug. 1 increased 2.8% to $199.3 million compared with $193.9 million for the 13-week period ended Aug. 2, 2014. Same store sales decreased 1.1%. Net income was $7 million compared with $8.4 million for the 13-week period ended Aug. 2, 2014. Earnings per diluted share totaled 28 cents, compared with 32 cents for the 13-week period ended Aug. 2, 2014.

Foot Locker Inc. continues to cash in on the trend toward wearing fashionable active apparel, as the company reported impressive sales and earnings growth in its latest quarter.

For the second quarter ended Aug. 1, the retailer posted net income of $119 million, or 84 cents per share, compared with net income of $92 million, or 63 cents per share, last year, a 33% increase. Same store sales increased 9.6%. Total sales increased 3.3%, to $1,695 million this year, compared with sales of $1,641 million for the corresponding prior-year period.  

Seattle — Nordstrom Inc. is entering the haute couture space with the introduction of SPACE, a new shop curated by Olivia Kim, director of creative projects. SPACE will offer products from emerging and advanced designers.

Kearney, Neb. — The Buckle Inc. beat Wall Street expectations for profit in the second quarter of fiscal 2015. The retailer achieved this feat even as net income slipped 4% to $23.5 million from $24.1 million.

Growth in cost of sales and selling expenses cut The Buckle’s profit. Net sales increased 0.1% to $236.1 million from $235.7 million. Same-store sales decreased 1.7%. In one bright note, online sales increased 17% to $20.1 million from $17.1 million.