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Target collaborates with Roberto Cavalli

Wednesday, August 22nd, 2012

Australian general merchandise retailer Target has named Roberto Cavalli as its latest Designers for Target collaborator. “Target is delighted to collaborate with Roberto Cavalli, one of the world’s most famous and well regarded fashion designers,” said managing director Dene Rogers.

The 42 piece Roberto Cavalli for Target women’s wear line will launch on 31 October and will feature Cavalli’s distinctive animal prints and embellishment. The range will include casual daywear, party pieces, footwear and swimwear. The range will be available in sizes 8-16 and be priced between A$49-129.

“Roberto Cavalli has previously designed a hugely successful collection for other mass retailers and he builds on that success with a 42 piece collection specifically for Target Australia. We strive to provide good quality, stylish fashion for our customers at great value and this collaboration gives Australian women access to international designer pieces at affordable prices.”

Posted in Apparel, Brand, Collaborations, Designer, News, Retail, accessories, ladies | No Responses »

Libby Edelman joins back Sam Edelman Team

Wednesday, August 22nd, 2012

Libby Edelman, one of the creative visionaries behind footwear brand Sam Edelman, will be rejoining the team in a new role to help drive the marketing and licensing of the line as it expands into new markets, including intimate apparel and outerwear.

The Brown Shoe Company-owned brand said Edelman will provide “creative vision” to the evolution of the brand as it continues to expand with new opportunities..

Diane Sullivan, president and CEO of Brown Shoe Company said: “Libby has been an integral part of the success of the Sam Edelman brand over the years, and we are thrilled to have her back on the team… Nobody knows Sam better than Libby, and she can help take his voice and integrate it throughout everything the brand is doing, from footwear to intimate apparel to outwear.”

The couple has worked together for more than 30 years, launching the Esprit footwear business in 1983 and the Sam & Libby brand in 1987.

Libby was a noted senior fashion editor in the ‘70s and early ‘80s with magazines such as Harper’s Bazaar, Seventeen and Glamour, followed by a major role as director of public relations at Calvin Klein. After moving to California in 1983, Libby joined Sam as president of the Esprit Children’s Division.

“I took some time off to replenish my creative spirit through photography and travel, including a trip to Peru for Soles4Souls, an organization that collects new and used shoes for those in need. I had a great time but it felt right to come back refreshed and ready to synergize my energy with Sam’s new projects and collections. Even though I know him very well, he always surprises me with his ideas and that is an inspiring environment to be a part of,” said Edelman.

Brown Shoe Company is a 2.6 billion dollars, global, footwear manufacturing company. More than 130 years old, the company operates more than 1,300 retail stores across the United States, Canada and China. It also designs, sources and markets many well-known wholesale shoe brands — such as Naturalizer, Dr. Scholl’s Shoes, LifeStride, Sam Edelman, Franco Sarto, Via Spiga, Vera Wang, Avia and Ryka. In addition to its retail and wholesale operations, it also operates ecommerce sites.

Posted in Apparel, Brand, Labor, News, Operations, Retail, accessories | No Responses »

Finish Line Appoints Amber Vanes As VP, Planning And Allocation

Tuesday, August 21st, 2012

Finish Line Inc. announced that it has appointed Amber Vanes as its vice president, planning and allocation.

Vanes has been with Finish Line for seven years, most recently serving as Senior Buyer/DMM for The Running Specialty Group. Finish Line, which acquired The Running Specialty Group last year, operates 19 specialty running shops in seven states and the District of Columbia under The Running Company banner as a joint venture with Gart Capital Partners.

Prior to Finish Line, Vanes worked as a Senior Business Analyst at Marshall Field and Company.

Posted in Activewear, Apparel, Brand, Labor, News, Operations, accessories | No Responses »

Foot Locker Q2 profit up 59% from sales uplift

Monday, August 20th, 2012

Sportswear retailer Foot Locker has booked a 59.5% rise in second-quarter net profit on the back of a positive sales performance in North America and Europe, beating the Street in the second quarter.

For the period ended July 28, the New York-based specialty athletic retailer earned a net income surged to US$59m, or 39 cents a share, compared to $37m, or 24 cents, in the same period a year ago. Gross margin increased 90 basis points.

Revenues increased 7.2% to $1.37bn, from $1.28 billion, on the back of a comparable-store sales increase of 9.8 percent. Analysts were expecting earnings per share of 33 cents on revenue of $1.35 billion. Excluding the effect of foreign currency fluctuations, total sales were up 10.6%.

Positive results were driven by Nike’s lightweight and technical running products, the firm said. Domestic comps rose in the low teens in the second quarter, while Foot Locker Europe’s comp-store sales were essentially flat. The international divisions posted mid-single-digit comp gains, while the direct-to-customer segment advanced 18.1 percent.

Ken Hicks, chairman and CEO, said: “We have achieved consistently strong financial and operational results since we began implementing our long-term plan over two years ago. This consistency was also evident with the good profitability we achieved this quarter across our divisions, from the North American stores, to Europe, and to our direct-to-customer business.”

During the first half of the year, the company opened 47 new stores, remodeled/relocated 109 and closed 62, taking its total number of stores to 3,354. Hicks also said more store changes are expected in the back half. The firm is now testing 11 stores for the Champs prototype, and has several Foot Locker test stores on tap for this winter into next spring.

“We intend to open three new concept stores for Lady Foot Locker before the holiday selling season. These stores will be merchandised significantly different than a Lady Foot Locker store with much more apparel, stronger coordination between shoes and apparel and more emphasis on performance. These stores will have a new nameplate over the door, which we will announce later in the quarter,” Hicks said on a conference call with analysts Friday.

Foot Locker ended the period with cash and short-term investments of $820 million and long-term debt of $133 million.

Posted in Activewear, Apparel, Brand, Children, Finance, Men, News, Retail, accessories, ladies | No Responses »

Gap Q2 Profit Rises

Friday, August 17th, 2012

Fashion retailer Gap Inc. said Thursday after the markets closed that its second-quarter net income rose 29%, helped by higher sales and improved gross margins. The company’s quarterly earnings per share also came in above analysts’ expectations as did its quarterly sales. Based on second quarter results, the company once again raised its full year earnings outlook.

For the second quarter ended July 28, 2012, the San Francisco-based company reported net income of $243 million or $0.49 per share, compared to $189 million or $0.35 per share for the year-ago quarter. Net sales for the second quarter grew 6 percent to $3.58 billion from $3.39 billion last year. Same-store sales increased 4 percent. Analysts polled by Thomson Reuters estimated earnings of $0.48 per share and revenues of $3.53 billion for the quarter.

Same-store sales for the second increased 4%. Same-store sales rose 7% for Gap stores in North America and Banana Republic’s North America fleet, while it grew 3% for Old Navy’s North America stores. International same-store sales fell 5%. Whilst gross margin for the quarter improved to 39.9% from 36.9% a year earlier.

“Customers responded well to our product offerings across our brands, driving a healthy increase in sales and earnings per share during the quarter,” said Glenn Murphy, chairman and chief executive officer of Gap. “Our continued focus on product and store execution are helping to drive positive momentum and we’re committed to sustaining solid performance for the remainder of the year.”

The company ended the second quarter with a total of 3,285 store locations in 42 countries, 3,035 of which were company-operated. During the second quarter, the company opened 29 and closed 20 company-operated store locations. The company opened its first Old Navy store outside of North America in Tokyo and continued to expand its Gap brand store base in China. The company continues to expect net openings of about 15 company-operated stores and about 50 to 75 franchise stores during fiscal year 2012.

Going forward, the company raised its fiscal year 2012 earnings estimate to a range of $1.95 to $2.00 per share, from prior estimate of $1.78 to $1.83 per share. Analysts currently estimate earnings of $2.08 per share for the full year.

The company repurchased $349 million worth of shares in the second quarter and ended the quarter with 479 million shares outstanding and $2.1 billion in cash, cash equivalents, and short-term investments. Gap shares are currently gaining 1.34% in after hours trading after closing the day’s regular trading session at $34.34, down 27 cents. The shares trade in a 52-week range of $15.08 to $34.92.

Posted in Apparel, Brand, Children, Finance, Men, News, Retail, accessories, ladies | No Responses »

Foot Locker Reports Rise In Q2 Net Income

Friday, August 17th, 2012

Specialty athletic retailer Foot Locker Friday released the financial results for the second quarter ended July 28, 2012, reporting a profit for the second quarter that increased from last year, as runners splurged on new sneakers for the summer season.

The New York-based company reported net income of $59.0 million or $0.39 per share for the second quarter, higher than $37.0 million or $0.24 per share in the prior-year quarter.On average, 13 analysts polled by Thomson Reuters expected earnings of $0.33 per share for the quarter.

Total sales for the second quarter increased 7.20 percent to $1.367 billion, from $1.275 billion for the same period in the previous year. Comparable-store sales rose 9.8 percent, and topped eleven Wall Street analysts’ consensus estimate of $1.35 billion by a whisker. Excluding the effect of foreign currency fluctuations, total sales improved 10.6 percent.

Sales at established stores jumped 9.8 percent. Adjusted earnings per share and quarterly revenues topped analysts’ expectations. Following the news, Foot Locker shares gained more than 6.5 percent in early dealings.

This was the tenth consecutive quarter of sales and profit growth for Foot Locker in relation to the comparable prior-year periods.

“We have achieved consistently strong financial and operational results since we began implementing our long-term plan over two years ago. This consistency was also evident with the good profitability we achieved this quarter across our divisions, from the North American stores, to Europe, and to our direct-to-customer business,” Chairman and CEO Ken Hicks said in a statement.

At the end of the second quarter, Foot Locker operated 3,354 stores in 23 countries in North America, Europe, Australia, and New Zealand, compared to 3,407 stores last year. Additionally, it had 37 franchise stores in the Middle East and South Korea as opposed to 25 last year.

During the quarter, Foot Locker repurchased about 1.2 million shares of its common stock aggregating $37.5 million under a $400 million share repurchase program.

FL closed Thursday’s regular trading session at $34.49, down $0.08 on a volume of 2.48 million shares. In the past 52-week period, the stock has been trading in a range of $17.77 to $34.92.

Posted in Activewear, Apparel, Brand, Children, Finance, Media, News, Retail, accessories, ladies | No Responses »

Wal-Mart lifts outlook as Q2 income rises 5.7%

Friday, August 17th, 2012

Retail giant Wal-Mart Stores, Inc. reported Thursday a profit for the second quarter that increased 5.7 percent from last year, reflecting positive comps across all three geographic business units and store formats. Further the retailer lifted its full-year earnings outlook.

For the quarter ended July 31, 2012 the world’s largest retailer reported net income of $4.02 billion or $1.18 per share for the second quarter, higher than $3.80 billion or $1.09 per share in the year-ago quarter. On average, 26 analysts polled by Thomson Reuters expected earnings of $1.17 per share for the second quarter. Analysts’ estimates typically exclude special items.

Net sales for the second quarter of fiscal 2013 were 113.5 billion dollars, an increase of 4.5 percent from 108.6 billion dollars in the second quarter last year. Net sales for this quarter included a negative currency exchange rate impact of approximately 2.2 billion dollars. Without the currency impact, net sales would have been 115.7 billion dollars. Membership and other income increased 4.7 percent to 762 million dollars.

Walmart’s revenues for the quarter increased 4.5 percent to $114.30 billion from $109.37 billion in the same quarter last year, but missed nineteen Wall Street analysts’ consensus estimate of $115.75 billion.

Total comparable store sales grew 2.5 percent. Constant currency sales grew 4.7 percent to $115.7 billion. US comparable-store sales rose 2.2%, its fourth consecutive quarter of positive comparable sales. Wal-Mart US sales increased 3.8% to $67.3bn, while its international division saw growth of 6.4% to $32bn.

“I’m really pleased with the continued momentum in our Walmart US stores, evidenced, in part, by three consecutive quarters of positive comp traffic and four straight quarters of positive comp sales,” said president and CEO Mike Duke. ”The team is very focused on delivering broad assortment and price leadership. Walmart’s low prices drive greater customer loyalty.”

Speaking about the economic challenges facing its consumers, Duke said: “The paycheck cycle remains pronounced in the United States and in our international markets. Given continuing economic pressures, we believe that our price leadership and value are growing in importance to customers across income levels.”

Looking ahead to the third quarter, the company expects earnings from continuing operations in a range of $1.04 to $1.09 per share. Street is looking for earnings of $1.05 per share for the quarter. The company also projects comparable store sales growth for the quarter at Walmart U.S. of 1 to 3 percent, and at Sam’s Club, without fuel, of 3 to 5 percent.

For fiscal 2013, Wal-Mart raised its earnings guidance to a range of $4.83 to $4.93 per share from the previous range of $4.72 to $4.92 per share. Street is currently looking for full-year 2013 earnings of $4.93 per share.

WMT closed Wednesday’s regular trading session at $74.45, up $0.54 on a volume of 7.77 million shares. In the past 52 weeks, the stock traded in a range of $49.94 to $75.24.

Posted in Apparel, Brand, Men, News, Operations, Retail, accessories, ladies | No Responses »

Under Armour sourcing executive Janet Fox resigns

Wednesday, August 15th, 2012

Janet Fox, the senior vice president of sourcing at performance apparel and footwear specialist Under Armour, is to leave the company later this month, it has been revealed.

Fox “has resigned from the company to pursue other interests,” according to a Securities and Exchange Commission filing yesterday (14 August), with her resignation coming into effect on 24 August. Under Armour said the move means it is now evaluating “the organisational structure and management needs of this area.”

In the meantime, chief supply chain officer Jim Hardy will take on Fox’s responsibilities overseeing the firm’s apparel sourcing operations. Hardy was named chief supply chain officer in April this year with responsibility for “strategically guiding Under Armour’s rapidly growing supply chains locally and internationally.”

Fox joined Under Armour in March 2011 after a 29-year career at department store retailer JC Penney.

Under Armour last month raised its full-year operating profit expectations after recording strong second quarter growth helped by the success of its footwear range. Net profit increased 7% to reach US$7m over the three months ended 30 June as revenue surged 30% to $369m.

Posted in Apparel, Brand, Labor, News, Operations, Retail, accessories | No Responses »

Italy and North America fuel Tod’s H1 growth

Friday, August 10th, 2012

Italian footwear brand Tod’s posted a 13.7% jump in first-half profits, fuelled by strong growth in Asia and North America.

Net income rose to EUR74.4m (US$91.6m) over the six months ended 30 June as group sales rose 9.8% to EUR482.5m.

Sales in Asia and the rest of the world increased 55.6% to EUR144.6m, while North American sales were up 30% to EUR38.1m. In Europe, excluding Italy, sales rose 10.6% to EUR100.8m. However, in Italy, sales declined 12% to EUR199m.

“Half-year results confirm the sound growth of our group in sales and profits,” said chairman and CEO Diego Della Valle.

“Consistent with our international expansion strategy, our group continues to post outstanding results in the foreign markets, in particular in Asian and US markets.

“I’m confident that also the second half of the year will achieve good results and I can confirm our expectations to post a significant growth also this year.”

Posted in Brand, Finance, News, Retail, accessories | No Responses »

Nicholas Deakins to open London pop-up

Friday, August 10th, 2012

Heritage clothing and footwear brand Nicholas Deakins is to launch its first pop-up store on August 13. Located on Lamb’s Conduit Street in London, the pop-up store will be open for one month and will use elements of the brand’s Leeds flagship store in its design.

The store will showcase Nicholas Deakins’ autumn 12 collection of men’s clothing and footwear which features the brand’s collaborations with Harris Tweed and the British Millerain Company.

Commenting on the pop-up a spokesman for Nicholas Deakins said: “We’ve been steadily expanding and increasing our presence in London over the past few years and expect this project to have some real impact.

“Retailers, consumers and press will all have a chance to see the subtle change of direction of our footwear and clothing collections along with the improvements made in the quality of manufacture.”

Posted in Brand, Men, News, Operations, Retail, accessories | No Responses »

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