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Aeropostale cuts Q2 outlook after lower sales

Friday, August 3rd, 2012

Teen clothing retailer Aeropostale, Inc. has cut its second-quarter earnings forecast on the back of lower than expected sales and margins.

The New York-based company said comparable sales for the second quarter, including online sales, were flat, compared to a 12% decline last year, while net sales climbed 4% to $485.3m from $468.2 million a year ago, and fell short of analysts’ estimate of $496.29 million. Same-store sales, excluding online sales, edged down 1%, compared to a 14% decrease last year. Same-store sales, including the e-commerce channel, for the quarter were essentially flat.

Aeropostale CEO, Thomas Johnson said: “We are clearly disappointed that our second quarter results fell below our initial expectations. While we delivered a more cohesive fashion offering and continued to improve our sales per transactions, our overall store traffic was weaker than anticipated.”

The company now expects second-quarter earnings per diluted share to be $0.00, compared to previous guidance of $0.03 to $0.05. Analysts polled by Thomson Reuters currently expect the company to earn $0.06 per share for the second quarter.

Aeropostale expects to announce second quarter earnings and an update on back-to-school trends on August 16.

Aeropostale shares are currently trading at $13.20, down $6.25 or 32.13%.

Posted in Apparel, Brand, E-tail, Finance, News, Retail | No Responses »

ASOS Q1 Total Group Revenues Rise

Tuesday, July 10th, 2012

ASOS plc said its first-quarter total group revenues grew 31% to 141.09 million pounds from a year ago.

Retail sales for the quarter was up 31% year over year to 136.89 million pounds, with UK rising 8%, and International increasing 49%.

Nick Robertson, CEO, commented, ”Our UK performance was particularly encouraging given the current climate at +8%. Our International business grew by +49% driven by a strong performance in the US, +83% and our rest of world category (predominately Australia) at +61%. International sales now represent 65% of the total up from 57% last year.

We remain positive in our outlook, and continue to trade in line with expectations.”

Posted in Apparel, Brand, E-tail, Finance, Men, News, accessories, ladies | No Responses »

H&M Group Q2 Profit Rises

Wednesday, June 20th, 2012

Hennes & Mauritz AB Wednesday reported nearly 23 percent increase in profit for the second quarter, as the company’s sales were resilient despite the prevailing economic headwinds.

Profit for the second quarter increased to 5.22 billion Swedish kronor ($0.75 billion), or SEK 3.15 per share, from last year’s 4.26 billion kronor or SEK 2.57 per share. Earnings per share grew to 3.15 kronor from 2.57 kronor.

Sales including VAT grew to SEK 36.95 billion from SEK 32.4 billion in the prior-year quarter. Sales excluding VAT was up 15 percent year-over-year to SEK 31.66 billion.

H&M Group’s sales including VAT grew 12 percent in local currencies in the second quarter. Sales in comparable units increased 2 percent.

H&M reported a 20 percent increase in sales in the UK at 2.75 billion kronor, and in the U.S., sales increased 40 percent to 3.22 billion kronor. Even in debt-ridden countries such as Greece and Spain, the fashion house posted higher sales.

In the preceding first quarter, H&M’s profit grew just under 5 percent in spite of a sales increase of 13 percent, as the company’s decision to not increase prices to offset higher purchasing costs squeezed its margins.

Karl-Johan Persson, CEO, commented, ”The year started well and the positive trend continued in the second quarter. In the second quarter we saw strong sales and profitability development, with a profit increase of 23 percent. The spring collections have been well received by our customers as shown by our increased market share in a fashion retail market that continues to be challenging…”

Moving ahead, the company plans to open around 275 new stores net during the full-year. H&M continues to open new stores in all current markets and it will add five new markets during the year: Bulgaria, Mexico, Latvia, Malaysia and Thailand. In addition, online sales will be launched in the autumn in the US, the world’s largest online market.

Further, H&M intends to open stores in several new markets in 2013.

H&M said a completely new independent chain of stores will open next year under the name “& Other Stories.”

The stock is currently adding 3.26 percent at 237.90 kronor on a volume of 560,331 shares.

Posted in Apparel, Brand, E-tail, Finance, Labor, Men, News, Operations, Retail | No Responses »

Olsen sisters launch collection in UK

Wednesday, June 20th, 2012

Mary-Kate and Ashley Olsen’s womenswear line StyleMint Collection is now available in the UK, via stylistpick.com.

The talented twosome, whose label The Row picked up the Womenswear Designer of the Year Award at this month’s CFDA Awards, have brought the line across the pond having secured fans such as Rachel Bilson, Chloe Moretz and Emma Roberts back home.

Already the creative minds behind no less than four other line – The Row, Elizabeth and James, Textile Elizabeth and James and Olsenboye – the twins aim to offer stylish jersey pieces, from T-shirts to dresses, at affordable prices.

The StyleMint concept is the brainchild of Mary-Kate and Ashley and US entrepreneurs Josh Berman and Diego Berdakin. Started in 2011, stylemint.com requires shoppers to register as a member before undertaking a quiz to establish their style preferences; they then receive tailored monthly shopping recommendations.

Similarly, stylistpick.com offers style suggestions based on quiz answers and hand-picked by their team of stylists – who include Grace Woodward and Louise Roe. The site already includes an exclusive range of shoes designed by Cheryl Cole, as well as a large range of other clothing and accessories.

Previously, British-based fans of the Olsens’ designs have only been able to buy their main line, The Row, which sees cashmere jumpers sell for a hefty £1,000, and bags upwards of £3,000.

Posted in Apparel, Brand, Collaborations, Designer, E-tail, News, ladies | No Responses »

J Crew and Lane Crawford ink Asia retail deal

Monday, June 11th, 2012

US clothing retailer J Crew Group is to make its collection available to shoppers in Asia later this year after inking a strategic partnership deal with designer department store chain Lane Crawford that will make women’s and men’s collections available through Lane Crawford’s retail and online stores.

From October 2012 a “curated selection” of the J Crew  autumn women’s ready-to-wear and shoes, men’s apparel and accessory collections will be available at select Lane Crawford stores in Hong Kong and Beijing and online, according to a joint statement.

The project is the first-ever collaboration for J Crew with Lane Crawford, and provides a new and exclusive positioning for both brands across Greater China. The deal will allow customers in Hong Kong and Mainland China to shop for J. Crew merchandise in a retail environment outside North America for the first time.

“We are thrilled to be collaborating with J Crew on this first-ever, unique multi-channel project,” says Andrew Keith, Lane Crawford’s president.

While Millard Drexler, J Crew’s chairman and CEO, adds: “We always want to work with the ‘best of the best, and Lane Crawford was at the top of our fantasy list… When it comes to editing and presenting collections with a creative and elevated point of view, no one does it better. We are beyond excited to partner with Lane Crawford to help introduce J Crew to Asia.”

The project is the first collaboration between J. Crew and Lane Crawford. J. Crew will make its Asian debut at Lane Crawford at the IFC mall in Hong Kong and the Seasons Place store in Beijing, as well as on lanecrawford.com.

Lane Crawford’s parent company, The Lane Crawford Joyce Group, operates more than 550 points of sales across Greater China and South East Asia.

Posted in Apparel, Brand, Collaborations, E-tail, Men, News, Operations, Retail, ladies | No Responses »

Sir Philip Green’s firm pays family £16m and threatens to sue rival Asos

Friday, June 1st, 2012

Arcadia tycoon Sir Philip Green’s retail empire paid out £16m to his wife last year, as the company swung from profit to loss and has rounded on online fashion rival Asos over its use of Topshop branding on its website, warning that he will sue the company if it does not stop taking “unfair advantage of our trademark”.

His holding company saw its tax bill fall sharply, accounts showed, after it posted a loss of £120m, in contrast to the previous year’s profit of £213m.

It came as Sir Philip, in a separate development, threatened legal proceedings against Asos, his rival online retailer, for taking “unfair advantage of our trade mark”. In a sign of how fiercely Sir Philip is fighting for customers in the tough fashion market, he said Asos had to immediately take Topshop’s name down from its website, otherwise he would sue.

The legal letter to Asos was sent on the same day that Sir Philip filed the accounts for Taveta Investments, his holding company which owns all his shop chains such as Bhs, TopShop, Burton as well as various property investments.

The company, as it had previously announced, swung from a profit to a loss. This meant its tax bill, in the year to August 27 2011, fell from £70.9m to £2.83m.

The accounts also show that Sir Philip’s wife, Lady Green, “and her immediate family” received an interest payment of £16m. This was because during 2009 Taveta bought Bhs, which was paid for via the issue of loan notes to companies controlled by Lady Green and her family.

Posted in Apparel, Brand, E-tail, Finance, News, Operations, Retail | No Responses »

American Apparel’s May comparable store sales up 19%

Thursday, May 31st, 2012

Casual wear manufacturer and retailer American Apparel, Inc. announced preliminary comparable sales for the period May 1, 2012 through May 26, 2012 which saw its comparable store sales increase for the 12th consecutive month during May.

The company reported that for the period May 1, 2012 to May 26, 2012, comparable store sales increased 19%, including a 19% rise in comparables store sales for its retail store channel and an 18% growth in net sales for its online channel.

The company will announce full month comparable sales, wholesale net sales and total net sales for the month ended May 31, 2012 on Thursday, June 7, 2012 after the stock market closes.

“May will represent our 12th consecutive month of positive comparable sales, and I am particularly pleased with the strength of retail store sales,” said Dov Charney, Chairman and Chief Executive of American Apparel, Inc. “Store performance built steadily week over week and that trajectory gives us increased confidence about sales trends as we move into the summer months.”

Posted in Apparel, Brand, E-tail, Finance, Men, News, Operations, Retail, accessories, ladies | No Responses »

Aurora Fashions, Karen Millen to offer PayPal mobile payment

Wednesday, May 30th, 2012

Aurora Fashions and Karen Millen announced today (30 May) that it will begin accepting payments using PayPal through customers’ smartphones.

Aurora Fashions, the parent company of Oasis, Warehouse and Coast, and Karen Millen has teamed up with PayPal to let customers use PayPal’s inStore app to pay for purchases on their mobile instore.

The service, which launches nationally at all four retailers from tomorrow (May 31), and will be available in some 230 stores. It uses the PayPal inStore app, which provides the customer with a unique barcode and transaction number, which the shop cashier scans to take payment from the customer’s PayPal account. Payments, refunds and discounts are all managed via the app.

“Customers demand more from physical stores: outstanding service and a more personalised experience enabled by new technology,” said Ish Patel group omnichannel director at Aurora Fashions. ”Catering for payment flexibility is a now a crucial part of ensuring we are providing customers with a seamless experience by merging digital commerce with physical retailing.

“Our partnership with PayPal allows us to take the next step in our omnichannel journey, ensuring customers can safely and securely purchase items using their own mobile phones. We’re proud to be innovating on the UK high street and continuing to lead the way in providing a new kind of shopping experience.”

PayPal UK managing director Cameron McLean says the move underlines the company’s view that mobile payments don’t need near field communications technology to succeed. “We’ve created a simple, secure way to use a mobile phone to pay in your favourite stores. The lines between the online world and high street will soon disappear altogether: research we carried out last year among major retailers suggested that 2016 will be the year you won’t need a wallet to shop on the British high street. A phone will be enough,” said Cameron.

“PayPal’s ‘pay by mobile’ service works with the phones most of our customers already own. And our retail partner doesn’t have to install new systems to take in-store mobile payments,” he said.

Payments, refunds and discounts are all managed via the app. PayPal claims it is a secure way of carrying out a transaction as the customer enters a PIN to open the app and no personal or financial information is stored on the phone.

The app works when there is no mobile or Wi-Fi signal and the customer can also request a refund from purchases online or instore via the app.

The PayPal app is available for Android and Apple iOS (iPhone and iPad) devices.

Posted in Apparel, Brand, E-tail, News, Retail, Social Media, accessories, ladies | No Responses »

PPR signs MoU with Yoox for online venture

Monday, May 28th, 2012

French luxury goods group PPR is looking to set up an e-commerce venture with Italian online fashion retailer Yoox after signing a memorandum of understanding (MoU) last week.

The agreement aims to define guidelines for the joint management of the e-commerce operations of some of PPR’s luxury brands. The MoU includes Bottega Veneta, Yves Saint Laurent, Alexander McQueen, Balenciaga, Stella McCartney and Sergio Rossi brands.

PPR and Yoox intend to continue negotiations to close a definitive agreement in the coming months.

The announcement follows reports last week that shares in Yoox surged after reports emerged that the company was allegedly in talks with PPR to set up an online venture.

Posted in Apparel, Brand, Collaborations, E-tail, News, Operations, Retail | No Responses »

ASOS Full-year Pre-tax Profit Up; Announces Management Incentive Plan

Thursday, May 24th, 2012

ASOS plc  said its full-year pre-tax profit was up to 30.35 million pounds from last year. Earnings per share totaled 26.7 pence, up from 13.7 pence in the prior year, and profit before tax and exceptional items rose to 40.93 million pounds from the prior year.

Group revenues were up 46% year-over-year to 494.96 million pounds. Total retail sales grew 49% to 481.6 million pounds. The key driver of retail sales growth continues to be the company’s International business, although UK growth remains solid with sales up 7% on last year. Moving ahead, the company remains positive in its outlook for 2012/13 as it continues its journey to becoming the world’s number one online fashion destination.

ASOS plc, in a separate release, said, with effect from April 1, 2009, it implemented during 2010 a three year Management Incentive Plan, or MIP, the performance period for which ended on 31 March 2012.

To this end, the MIP provided executive directors and certain senior employees of the company the opportunity to demonstrate their commitment to and belief in the future plans for the company by investing their own money to buy subordinated shares issued in a subsidiary company, ASOS.com Limited, to be exchanged in two equal tranches, on 30 September 2012 and 30 September 2013, into ASOS shares in a set ratio, subject to the company’s performance against the conditions of the plan.

During the term of the MIP, the management team of the company has been extremely successful in generating real returns for shareholders. On 31 March 2012, ASOS’s market capitalisation was 1.37 billion pounds, up from 218.5 million pounds on 31 March 2009, an increase of over 500%.

On May 23, 2012, based upon the recommendation of the Remuneration Committee of the company, the company approved the exchange of subordinated ordinary shares in ASOS.com Limited, which are held by certain participants to a total of 4 million ordinary shares with a nominal value of 3.5 pence each in ASOS plc.

Posted in Activewear, Apparel, Brand, Children, Designer, E-tail, Finance, Men, News, Operations, accessories, ladies | No Responses »

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