Apparel

Brisbane Calif. -- Bebe Stores reported Thursday that profit for the fourth quarter doubled to $4.7 million, from $2 million in the year-ago period.

Revenue rose 8% to $132.3 million, compared with $122.1 million last year and beating Wall Street expectations of $126.1 million. Same-store sales grew 7%.

For the year, the company narrowed its loss to $1.8 million, from $5.2 million in fiscal 2010. Annual revenue increased 3% to $493.3 million.

NEW YORK — The economic headwinds so often cited by mass market retailers as a drag on financial results had no impact on luxury goods retailer Tiffany during the second quarter. The company’s earnings per share excluding non-recurring charges increased 58% to 86 cents, well ahead of the 70 cents analysts’ expected as the retailer’s customers didn’t let lingering unemployment and economic uncertainty dampen their enthusiasm for luxury goods.

Evansville, Ind. -- Shoe Carnival reported Thursday that net income for the quarter ended July 30 dropped to $2.7 million from $4.1 million in the year-ago period. Sales edged up 0.8% to $166.7 million, and same-store sales dipped 1.1%.

The shoe retailer said it expects to open 17 new stores and close four stores in fiscal 2011.
 

MEMPHIS, Tenn. — Southeastern discount banner Fred's on Thursday morning reported that the consumer continues to be challenged by economic pressures. "In key markets we continue to see swings in sales [tied to] the payroll cycle," Bruce Efird, Fred's president and CEO, told analysts during a conference call this morning. Efird also reported an increase in government assistance utilization.

San Francisco -- Guess reported Wednesday that profit for the second quarter dipped 9.1% on a hefty settlement charge.

The retailer said that net income fell to $60.7 million from $66.8 million, as it was hit by a $19.5 million settlement charge.

Revenue for the quarter rose 17% to $677.2 million from $577.1 million, beating analysts’ estimates.

 

Little Rock, Ark. -- Dillard’s said Thursday it has offered to relocate 66 St. Louis employees whose jobs have been eliminated from the department store retailer’s merger of two merchandising divisions.

Dillard’s is merging its St. Louis merchandising division with another in Little Rock, Ark. The St. Louis division is slated to close Oct. 23.
 

NEW YORK — Victoria's Secret announced that it has launched a new line of workout gear called "VSX Sexy Sport." The collection will feature sports bras, yoga pants, tank tops, athletic shorts, accessories and other workout clothing pieces all designed with fit in mind, the company reported. 

The collection is available in a variety of colors in sizes XS to large. Items are priced from $24.50 to $68.50.

Topeka, Kan. -- Collective Brands, parent company of Payless and Stride Rite shoe chains, announced Wednesday that it would close 475 underperforming stores over the next three years and has hired a firm to help it explore its options.

The company hired Perella Weinberg Partners and Kurt Salmon as advisors to explore strategic alternatives.