Hurt by adverse weather conditions, a continued shift by consumers to invest in high-value items such as cars, and a general slump after the...
Santa delivered some generally positive holiday sales results to US apparel retailers in December as they grappled with a rapidly changing o...
As US apparel retailers readied themselves for a busy Black Friday weekend, sales proved to be somewhat disappointing. Despite a more favourable macro backdrop to consumer spending this holiday season, the majority of clothing chains reported comparable store sales declines.
Unseasonably warm weather weighed on US retailers' sales of autumn clothing in October, combining with sluggish mall traffic, softer Halloween sales, lacklustre income gains, and a continued shift in spending to motor vehicles, experiences and restaurants to push the majority of clothing chains to comparable store sales declines in the month.
September proved to be another mixed month for US clothing retailers. While a later Labor Day weekend and the tail end of back-to-school selling boosted sales for some, the holiday shift combined with unseasonably warm weather hampered others, leading to many chains posting comparable store sales declines.
US consumer spending was hampered by international concerns, including a China slowdown and emerging market stress, currency devaluations, and extremely volatile equity markets in August. And although back-to-school spending picked up in the latter half of the month, the majority of clothing retailers reported comparable store sales declines.
In the most recent third-quarter filings from US apparel brands and retailers Gymboree, Aeropostale, Sears and New York & Co narrowed their losses, while Oxford Industries, Destination Maternity and J Crew saw theirs widen. Both The Finish Line and Men's Wearhouse swung to a loss. On a positive note, The Children's Place, Express, American Eagle Outfitters, G-III Apparel Group and Abercrombie & Fitch booked higher earnings.
Second-quarter earnings for the retail sector as a whole are forecast to be lower than the prior month, despite easy year-on-year comparisons. The Finish Line posted a small drop in net income, Zumiez saw its profit more than halve, Cherokee Global Brands posted a double-digit decline in net earnings, while Christopher & Banks swung to a loss, and Hudson's Bay was back in the black.
First-quarter revenue forecasts for US apparel retailers fared far worse than earnings expectations. The Finish Line said it got off to a "solid start" with double-digit profit growth, and Cherokee was pleased with a "strong" quarter, despite some headwinds. Elsewhere, Urban Outfitters revealed a mixed quarter, while Men's Wearhouse booked record sales but a decline in earnings.
Value fashion retailer Cato Corp has warned that 2015 may continue to be challenging, despite more than doubling its net profit during the fourth quarter, and favourable weather boosting sales.
US retailer Cato Corporation has revealed third-quarter earnings and sales that exceeded the firm's guidance.
Cato Corporation has recorded an increase in second-quarter earnings and reaffirmed its EPS guidance for the full year.
Cato Corporation has booked a mixed set of first-quarter results with earnings down but sales ahead of the company's expectations.
A highly promotional holiday sales season and poor weather conditions weighed on Cato Corporation's earnings in the fourth quarter.
The committee set up to pay compensation to the victims of the Rana Plaza factory collapse aims to distribute US$2m to around 3,600 workers and families before the one-year anniversary of the tragedy on 24 April.
Compensation payments to victims of the Rana Plaza factory collapse are due to start next month - but campaigners admit funds still fall far short of the $40m needed to make payments to all workers.
Eight months after the Rana Plaza garment factory complex collapsed in Bangladesh with the loss of more than 1,190 lives, a landmark agreement has been reached to deliver an estimated $40m in compensation to victims of the disaster.
Random inspections are set to take place at garment manufacturer King First Industrial Co after more than 100 workers fainted over two days last week.
Cato Corporation has reported a 5% increase in third-quarter net profit, helped by a better-than-expected performance in October - and has lifted its full-year earnings guidance.
Not enough progress has been made on delivering compensation to families and workers affected by the Rana Plaza building collapse, according to a new report from the Clean Clothes Campaign and the International Labour Rights Forum.
Value-priced fashion retailer The Cato Corporation today (22 August) posted a 15.5% decline in second quarter profit as sales slipped amid a "difficult environment".
Labour rights groups estimate that more than EUR54m (US$71m) in long-term compensation payments are due to victims of the Rana Plaza factory complex collapse in Bangladesh last month.
Value-priced fashion apparel The Cato Corporation has today (23 May) reported a 2.8% decline in first-quarter profit after cooler temperatures dampened sales.
A group of Western clothing retailers and brands have agreed to a deadline later this month to finalise a fire and building safety plan aimed at preventing industrial disasters like the collapse last week of the Rana Plaza factory complex in Bangladesh.
UK fashion retailers Primark and Matalan, as well as Canadian brand Joe Fresh, have all agreed to pay compensation and offer emergency food aid to victims who worked for their suppliers in the collapsed Bangladesh factory building.
Value-led fashion retailer The Cato Corporation saw net profit slump in the fourth quarter, hit by the weak economy and rising costs.
Value fashion retailer The Cato Corporation has updated its full-year earnings guidance after posting a 24% drop in third quarter profit.
US clothing retailer Cato reported a 4.4% decline in second quarter net income as it faced a challenging consumer environment.
Cato has reported a 4% increase in first quarter net income as the company said it sold more higher margin merchandise.
Value-led clothing retailer The Cato Corporation recorded a 7% drop in fourth quarter profit, impacted by a slight revenue decline and a 4% fall in comparable store sales.
The Cato Corporation - Company Capsule
Canadean's "The Cato Corporation - Company Capsule" contains in depth information and data about the company and its operations. The profile contains a company overview, key facts, major products and...
- What the EU-Vietnam trade deal means for duties
- Ultimate frontier Myanmar uplifts Bogart Lingerie
- Are apparel prices really rising?
- US apparel import growth led by Bangladesh
- US apparel retailers' January 2016 sales roundup
- Sears looks to lift apparel via sourcing changes
- Direct sourcing helps M&S narrow the gap with Next
- Clothing and sports chains in activewear battle
- Nike accelerates digital strategy with new hire
- Eco-friendly garment factory opens in Bangladesh
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Wearable technology: The future market potential for smart garments and e-textiles
- Global market review of denim and jeanswear – forecasts to 2021
- Practical Price Negotiation
- Wearable Technology Market by Product, Application, Type, & Geography - Global Forecast to 2020