Ross Stores Inc
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Retailers and brands are increasingly engineering their operations to make the most of changing trends affecting everything from sourcing to sales. But as Mike Flanagan points out, the model that works for one company is unlikely to work for another. Here he gives some examples.
The growth of inexpensive private label apparel is ending as the sector becomes less and less competitive, according to new research.
Improving weather in late April, combined with rising stock and housing prices, offered some encouragement to US clothing retailers as sales gained over the month.
A combination of cold, snowy weather and the earlier timing of Easter meant that sales of spring or early summer merchandise got off to a chilly start for US retailers in March.
In the most recent third-quarter filings from US apparel and footwear brands and retailers, Sears Holdings remained optimistic despite widening its net losses, while Vince Holding blamed challenging conditions and warm weather for a fall in both earnings and sales. Abercrombie & Fitch, meanwhile, revealed a "disastrous" quarter as sales fell and earnings plummeted 80%, while American Eagle Outfitters booked record sales and its 9th consecutive quarter of profit improvement.
In the most recent second-quarter filings from US apparel and footwear brands and retailers, Tailored Brands showed improvement on Q1 but saw earnings slide, while DSW booked mixed results. Abercrombie & Fitch widened its net losses but remained optimistic, while Destination Maternity revealed improved losses. Express, meanwhile, delivered what it described as a "disappointing" second-quarter, below management expectations, and Macy's saw a "distinct" improvement in its sales and earnings trends for the quarter.
In the most recent fourth-quarter filings from US apparel brands and retailers, Destination Maternity and Perry Ellis saw their losses narrow, while New York & Co moved to a net profit. However, Iconix Brand Group cut its outlook after swinging to a loss, Finish Line saw its net profit plummet 90%, and Cherokee Global Brands posted a mixed performance.
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.
US off-price fashion retailer Ross Stores has booked fourth-quarter earnings and sales ahead of its expectations and offered a positive outlook for the next fiscal.
Solid results are expected for apparel retailers TJX Companies and Ross Stores, analysts have said, thanks to the ongoing resilience and competitive strength of the off-price business model.
US off-price fashion retailer Ross Stores has booked an increase in third-quarter earnings but has maintained a cautious outlook for the full year due to the uncertain economic environment.
Off-price fashion retailer Ross Stores has booked second-quarter earnings in line with analyst consensus and at the high end of management guidance.
Ross Stores has booked what analyst say was a strong performance in the first quarter as strict inventory and expense control offset the negative impact from unfavorable weather and a challenging retail environment.
Off-price fashion retailer Ross Stores has promoted president and chief merchandising officer Barbara Rentler to CEO, as part of a management succession plan.
Off-price fashion retailer Ross Stores has reported a 7.9% drop in fourth-quarter profit, weighed down by lower sales and promotions.
Off-price retailer Ross Stores has appointed Michael Hartshorn to the role of chief financial officer.
Ross Stores has said it remains cautious in its outlook after the off-price retailer lowered its fourth-quarter earnings per share guidance, despite posting a rise in third-quarter net profit and sales.
Off-price retailer Ross Stores has booked a 17% increase in second quarter profit, helped by higher sales and improved margins.
US retailer Ross Stores has agreed to pay a US$3.9m fine after it knowingly failed to report that it failed to report that it was selling children's garments containing drawstrings - a strangulation risk.
Off-price retailer Ross Stores has raised its full-year earnings guidance after recording a 12% increase in first-quarter net profit, boosted by higher sales.
US off price retailer Ross Stores saw fourth quarter net income rise on the back of rising sales and margins.
Kenya-based clothing manufacturing giant United Aryan (UAL) has selected the WFX Cloud ERP software for its African production facilities.
Ten Los Angeles based garment contractors making clothes for retailers including Dillard's, Forever 21, Ross Stores and Urban Outfitters have been accused of serious labour violations.
Strong sales and lower expenses have helped off-price retailer Ross Stores book a better-than-expected rise in third-quarter net profit, but it issued a cautious outlook for the all-important holiday season.
Value-priced clothing and footwear retailer Ross Stores has raised its full-year earnings guidance after better-than-expected sales boosted its second-quarter profit.
Value retailer Ross Stores has revealed vice chairman and CEO Michael Balmuth will become chairman in 2016 as part of the company's management succession plan.
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