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  • Macy's delivers 22% earnings growth, raises guidance

    CINCINNATI — After delivering a 22% increase over the prior year in diluted per share for it second quarter (from 55 cents to 67 cents), Macy's Inc. has raised its full-year earnings guidance for 2012.

    The company now expects earnings per diluted share to range from $3.30 to $3.35, compared with previous guidance for earnings per diluted share of $3.25 to $3.30. Guidance for same-store sales in fiscal 2012 remains unchanged at an increase of approximately 3.7%.

  • Macy’s posts 16% increase in Q2 income; raises annual guidance

    Cincinnati -- Macy's reported a nearly 16% increase in net income for its second quarter as the chain benefited from cost controls and its ongoing strategy of tailoring its fashions to local markets. The company said it was raising its full-year profit forecast.

    Macy's net income rose to $279 million for the three-month period ended July 28, up from $241 million in the year-ago period.

  • Dillard’s Q2 income up

    Little Rock, Ark. -- Dillard’s reported net income for the second quarter, ended July 28, of $31.0 million, up from $17.6 million in the year-ago period.

    Total merchandise sales rose 2% in the quarter to $1.456 billion, compared with $1.426 billion last year. Same-store sales rose 3%.

    Dillard’s CEO, William T. Dillard, II, stated, “Continuing on the momentum of a successful first quarter, we are proud to report a 97% increase in second quarter earnings per share.

  • Esprit names group CEO

    Hong Kong -- Esprit Holdings Limited said Tuesday it has named Jose Manuel Martínez Gutiérrez as its new group CEO and executive director, effective September.

    Martinez was previously group director of distribution and operations for Inditex. Prior to that, he was the country manager for the Zara brand across Scandinavia.

    He succeeds Ronald Van Der Vis.

  • Kardashians look for more branding with Sears eyewear line

    LOS ANGELES — The Kardashian sisters (Kim, Kourtney and Khloé) have expanded their retail empire with the addition of eyewear to their collection at Sears. Manufactured by Jupi Corp and Inspecs USA, the Kardashian Kollection Eyewear hit stores in July.

  • Sycamore completes acquisition of Talbots; appoints former Vitamin Shoppe executive as CEO

    Hingham, Mass. -- Private equity firm Sycamore Partners, which has wrapped up its $391 million acquisition of The Talbots, appointed Michael Archbold, formerly president and COO of Vitamin Shoppe, as CEO and CFO of Talbots. Archbold, who also served as executive VP and CFO of Saks Fifth Avenue, replaces Trudy Sullivan, who resigned from the CEO’s job after Sycamore completed its acquisition of Talbots late last week.

  • Trader Joe’s among tenants at new development in Virginia

    Charlottesville, Va. -- Columbia, S.C.-based Edens said that Trader Joe’s is among the anchor tenants of its new Shops at Stonefield development, under construction in Charlottesville, Va.

    The Shops at Stonefield will begin opening stores and restaurants in November 2012. Tenants include Williams-Sonoma, Pottery Barn, Langford Market and Trader Joe's. Edens said it is also working with local retailer Blue Ridge Mountain Sports on a new flagship store.

  • Survey: Most parents spend up to $500/child on back-to-school

    Austin, Texas -- A survey released Tuesday by coupon site RetailMeNot.com found that nearly 80% of parents spend up to $500 per child for back-to-school shopping.

    Additionally, the survey – which was conducted with Ipsos Public Affairs – found that the majority of parents get the jump on the school year by starting their shopping in July and August (54%) versus after the school year begins.

    A significant number of parents, 29%, find the back-to-school shopping experience to be either annoying or stressful.

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