August 17th, 2012

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H&M launches Fashion Family clothes collection

Friday, August 17th, 2012

Swedish fashion retailer H&M Hennes & Mauritz has launched its Fashion Family clothing collection, available for men, women and children.

For women, the range includes a fitted jacket, skinny trousers, a grey long-sleeved dress, as well as accessories. The line features a leather jacket, knitted jumper, T-shirt, sunglasses, beanie hat and scarf for men.

Mini-me versions of the adult clothes have been designed for children.

The Fashion Family collection will be available at the H&M’s Regent Street and Selfridges stores in London and online from 17 September.

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

ANN Q2 Profit Rises and Raises Outlook

Friday, August 17th, 2012

Ann Inc. reported results for the fiscal second quarter of 2012, ended July 28, 2012. The company also provided its outlook for the third quarter and raised its outlook for the full year of fiscal 2012.

For the fiscal second quarter of 2012, net income for the second-quarter of 2012 was $30.7 million, an increase of 24% versus the $24.8 million in the second quarter of 2011. Earnings per share was $0.63, an increase of 34% compared to the $0.47 per share reported in the second quarter of 2011. Analysts polled by Thomson Reuters expected the company to report earnings of $0.51 per share for the quarter.

Total net sales for the second quarter of fiscal 2012 were $594.9 million, compared with net sales of $558.2 million in the second quarter of fiscal 2011.Twelve analysts had consensus revenue estimate of $585.61 million for the quarter. Total company comparable sales for the quarter increased 4.7% versus the second quarter of 2011. Gross margin, as a percentage of net sales, reached a record 55.9 percent, compared with the 55 percent gross margin rate achieved in the second quarter of 2011.

The company reported operating income of 52.9 million dollars in the second quarter of 2012, an increase of 27 percent compared with operating income of 41.7 million dollars in the second quarter of 2011. Net income was 30.7 million dollars in the second quarter of 2012, an increase of 24 percent versus the 24.8 million dollars reported in the second quarter of 2011. Diluted earnings per share was 0.63 dollars, an increase of 34 percent compared to the 0.47 dollars per diluted share reported in the second quarter of 2011.

During the second quarter of fiscal 2012, the company opened 17 stores, comprised of three Ann Taylor stores, oneAnn Taylor Factory store, seven LOFT stores and six LOFT Outlet stores, and closed two LOFT stores.

The company ended the quarter with approximately 133 million dollars in cash and cash equivalents, following the repurchase of approximately 1.6 million shares of its stock at a cost of approximately 40 million dollars during the fiscal second quarter of 2012.

For the fiscal third quarter of 2012, the company expects total net sales to be $600 million, reflecting a total Company comparable sales increase in the mid-single digits. Twelve analysts have consensus revenue estimate of $605.69 million for the third-quarter. Gross margin rate performance is expected to approach 58 percent.

Total net sales for fiscal 2012 are now expected to approach $2.385 billion, reflecting a total company comparable sales increase in the mid-single digits. Earlier, the company expected total net sales for fiscal 2012 to be $2.375 billion, reflecting a total company comparable sales increase in the mid-single digits. Fourteen analysts have consensus revenue estimate of $2.37 billion for fiscal 2012.

Ann Inc. is the parent company of Ann Taylor and LOFT, two of the women’s specialty retail fashion brands in the United States. The company operates 962 Ann Taylor, Ann Taylor Factory, LOFT and LOFT Outlet stores in 46 states, the District of Columbia and Puerto Rico as of July 28, 2012, as well as online websites.

Posted in Apparel, Brand, Finance, News, Operations, Retail, 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 »

Aeropostale Q2 Profit Down

Friday, August 17th, 2012

Apparel retailer Aeropostale Inc. Thursday reported a decline in profit for the second quarter. Second-quarter net income declined to $0.1 million or $0.00 per share from $2.9 million or $0.04 per share in the comparable quarter last year. Aeropostale net sales increased 4 percent, to 485.3 million dollars, in the second quarter of fiscal 2012. Net sales for the same period last year were 468.2 million dollars. 23 analysts expected revenues of $490.11 million for the quarter.

Adjusted net income for the quarter was $0.1 million or $0.00 per share, compared to an adjusted net loss of $1.7 million or $0.02 per share in the prior year quarter. On average, 25 analysts polled by Thomson Reuters expected the company to earn $0.00 per share for the second quarter.

Comparable sales, including the e-commerce channel, for the second quarter were essentially flat compared to a 12 percent decrease last year. Comparable store sales, excluding the e-commerce channel, for the second quarter decreased 1 percent, compared to a 14 percent decrease last year.

Net revenue from the company’s e-commerce business for the second quarter increased 27 percent to 31.9 million dollars, from 25.1 million dollars in the year ago period. The company ended the quarter with cash and cash equivalents of 169.6 million dollars and no debt. It currently has 145.2 million dollars of availability remaining under its share repurchase program.

Thomas P. Johnson, Chief Executive Officer, commented, ”While we were encouraged by the customer response to our fashion offering, we were disappointed by our overall financial performance for the second quarter. Our core basics business experienced significant pricing pressure due to the highly promotional and competitive retaillandscape. As a result, we promoted these businesses more aggressively than initially expected to end the quarter with inventories in line with our plan.” in line with our plan.”

Looking ahead to the third quarter, the company has forecast earnings in the range of $0.25 to $0.30 per share. Analysts currently expect the company to earn $0.38 per share for the third quarter.

New York-based Aeropostale is a primarily mall-based, specialty retailer of casual apparel and accessories, principally targeting 14 to 17 year-old young women and men through its Aeropostale stores and 4 to 12 year-old kids through its P.S. from Aeropostale stores. The company currently operates 914 Aeropostale stores in 50 states and Puerto Rico, 75 Aeropostale stores in Canada and 97 P.S. from Aeropostale stores in 22 states. In addition, pursuant to various licensing agreements, its licensees currently operate 20 Aeropostale and P.S. from Aeropostale stores in the Middle East, Asia and Europe.

The company opened seven Aeropostale and 15 P.S. from Aeropostale stores, and closed four Aeropostale stores during the quarter. For the second quarter, the company invested 20.8 million dollars in planned capital expenditures.

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