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.
Stein Mart CEO and chief merchandising officer Dawn Robertson has stepped down as the off-price fashion retailer revealed lower sales for its third-quarter and a narrowing of gross margin.
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.
Off-price fashion retailer Stein Mart said it is pleased with spring inventories going into the next quarter after seeing a 0.6% rise in total sales in its first-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.
Stein Mart has appointed Dawn Robertson as its new CEO, who is expected to bring a "fresh focus" to the off-price fashion retail group and its merchandising division.
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.
Off-price fashion retailer Stein Mart said it has recovered from a second half that was negatively impacted by poor weather to record a “strong” fourth-quarter of sales and earnings growth.
Off-price fashion retailer Stein Mart has swung to a loss in its third-quarter but said it plans to open at least ten new stores and relocate two stores in 2015, in addition to closing two stores.
Off-price fashion retailer Stein Mart said it has a number of important initiatives in place to grow its bottom line as it revealed a drop in second-quarter earnings.
Off-price fashion retailer Stein Mart saw earnings tumble in its first-quarter as investments in new stores and e-commerce, and the timing of its annual advertising spend, hit profits.
Off-price fashion retailer Stein Mart has created a new title of president, which will be shared by COO Hunt Hawkins and chief merchandising officer Brian Morrow.
Off-price fashion retailer Stein Mart Inc has booked a drop in fourth-quarter earnings on the back of lower revenues and one-time charges.
Off-price fashion retailer Stein Mart Inc has turned in a profit during its third quarter thanks to "continued sales momentum."
Higher sales and improved margins helped off-price fashion retailer Stein Mart to book a 47.8% increase in second quarter profit.
Jay Stein has been named as the chief executive officer of off-price fashion retailer Stein Mart, after holding the position for two years on an interim basis.
Off-price fashion retailer Stein Mart has booked a 35.6% jump in first-quarter net profit, driven by fewer markdowns and increased sales.
Off-price fashion retailer Stein Mart has seen its full-year and fourth-quarter profits surge, boosted by increased sales and lower markdowns.
Off-price fashion retailer Stein Mart has revealed that a panel has granted its request for continued listing on the Nasdaq Stock Market while it regains compliance.
US department store operator Stein Mart has received a Nasdaq notice of non-compliance as it did not file its quarterly report on time for the third quarter, ended 27 October.
Discount clothing and homewares retailer Stein Mart Inc is to restate more than three years' worth of financial reports after identifying a number of accounting errors.
Discount store retailer Stein Mart has booked a 44.5% fall in second-quarter net profit despite posting an increase in sales.
Stein Mart recorded a sharp decline in fourth-quarter net income as the company vowed to turnaround sales and improve its price positioning.
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