True Religion Apparel Inc., the maker of namesake jeans that can be sold for as high as US$300 in specialty boutiques and major department stores, missed Wall Street estimates with its third quarter results. True Religion reported net income of US$14.1M or US$0.58 per share, which fell 9% from US$15.4M or US$0.64 per share, while [...]
It’s that time again – the back to school season. And while some kids dread the return, the start of the new school year couldn’t have come any sooner for clothing retailers. In particular, The Gap Inc and American Eagle Outfitters posted August sales that beat estimates, as consumers hurried to get their children classroom [...]
While the past year hasn’t exactly been easy for Tiffany & Co, the luxury jewelry maker looks to be regaining its luster. Yesterday, Tiffany & Co. reported that it more than doubled earnings per share (EPS) to US$0.46 in Q02 2009 when compared to the first quarter of the year. The improved performance was helped [...]
Nike Inc. shares have not been moving in the same direction as its swoosh, tumbling more than 10% since the close of last week. It recently reported a 12% global decline in forward orders through November, worse-than-expected. Nike also warned that 2010 would be difficult, particularly the first half of the year, overshadowing its better-than-expected [...]
Hennes & Mauritz (H&M) AB, Europe’s second-largest clothing retailer, announced yesterday a 6% profit increase, beating 2nd quarter forecasts. Net income for the quarter ended May 31, 2009 jumped to EUR 379M, up from EUR 356M, a year earlier and ahead of analysts’ forecasts of EUR 375M. H&M also stated that currency swings were becoming [...]
The world’s second largest luxury jewelry maker Tiffany & Co. appears to have lost some of its luster, after profits for its first quarter tumbled a staggering 62%. Net income for the quarter ended April 30, 2009 dropped to US$24.3M or US$0.20 per share, down from US$64.4M or US$0.50 per share a year earlier. Sales [...]
Clothing retailer J. Crew Group beat forecasts in its fiscal quarter ended May 2, 2009. Although earnings per share fell 33% to US$0.32 from 0.48 YOY, it was triple the US$0.11 predictions of analysts. J. Crew has managed to capitalize on high-end shoppers who are fleeing luxury department stores and boutiques as a result of [...]
Luxury clothing maker Polo Ralph Lauren Corp. triumphed over its competitors with a fourth quarter profit that declined much less than analysts were forecasting. The company’s net income fell 57% to US$44.5M or US$0.44 cents per share in the quarter ended March 28, 2009, as it benefited from job cuts and a lower tax rate. [...]
Luxury department store, Saks Inc., posted a loss of US$5.1M for the first quarter period ended May 2, 2009. Saks saw a 27.6% drop in sales at stores that have been open at least a year – the economic downturn continues to hit the luxury market. Internet sales declined 14.6% compared to a 40% jump [...]
Nordstrom Inc. posted results that topped analysts’ expectations. The results come on the heels of rival Kohl’s Corp. whose results also exceeded forecasts. For its fiscal first quarter ended May 2, the high-end retailer’s earnings per share (EPS) fell to US$ 0.37 vs. 0.54 (YOY). Analysts expected EPS to be significantly lower (at US$0.26) as [...]