August 3rd, 2012

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Neiman Marcus posts Q4 sales rise

Friday, August 3rd, 2012

US department store operator Neiman Marcus saw fourth-quarter revenues increase because of strong gains in the company’s online business.

Total revenues for the quarter ending 28 July increased 9.3% to US$1.01bn, while comparable revenues climbed 7.9% to $991m.

Comparable sales for the direct division jumped 18.8% due to strong sales of women’s contemporary sportswear, shoes, men’s along with handbags and beauty.

Meanwhile, comparable revenues for the specialty retail stores segment climbed 5.3% on the back of increased sales of women’s shoes, men’s, beauty and jewellery. Growth was strongest in Neiman’s stores in Texas and the Southeast.

For the full-fiscal year, total revenues jumped 8.6% to $4.35bn, while comparable revenues increased 7.9% to $4.32bn.

Neiman Marcus will release its fourth-quarter earnings results on 12 September.

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

Ross stores Q2 sales up 12 percent

Friday, August 3rd, 2012

Ross Stores sales for the second quarter ended July 28, 2012, totaled 2.341 billion dollars, a 12 percent increase over the 2.089 billion dollars in sales for the same quarter ended July 30, 2011. Same store sales for the quarter ended July 28, 2012, also increased 7 percent on top of 5 percent growth last year.

For the six months ended July 28, 2012, sales of the California-based group totaled 4.698 billion dollars, a 13 percent increase over the 4.164 billion dollars in sales for the six months ended July 30, 2011. Comparable store sales for the period increased 8 percent on top of a 4 percent gain last year.

Ross Stores sales increased 12 percent to 709 million dollars for the four weeks ended July 28, 2012, up from 635 million dollars for the same period last year. Comparable store sales for the month grew 7 percent on top of a 7 percent increase last year.

Michael Balmuth, Vice Chairman and Chief Executive Officer, commented, “We are pleased with our robust sales gains for both July and the second quarter. These better-than-expected results demonstrate that our ability to provide a wide array of terrific name brand bargains continues to resonate with today’s value-focused shoppers, driving broad-based merchandise and geographic trends.”

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

American Eagle raises Q2 earnings outlook

Friday, August 3rd, 2012

Teen clothing retailer American Eagle Outfitters has raised its second quarter earnings guidance after achieving stronger than expected sales during the period.

The retailer said net sales for the second quarter increased 11% to US$740m, while comparable store sales climbed 9%.

The company now expects earnings per share to be between $0.19 and $0.21, compared to previous guidance of $0.13.

“Continuing the strength from the first quarter, we saw improvements across our product assortments, our brands and geographic regions during the second quarter,” CEO Robert Hanson said. ”We successfully pulled back promotional activity, while maintaining increased traffic and transactions.”

Last month, the retailer said it expects to incur an after-tax loss of $35-50m from the exit of its 77kids children’s brand.

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

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 »