US: Limited Brands lifts FY view despite Q2 profit fall
- Q2 net income fell 32.3% to $321.6m
- Sales declined to $2.39bn from $2.45bn
- Comparable store sales increased 8%
Over the quarter, net income fell to $321.6m. However, excluding charges relating to La Senza store closures and a series of one-off gains in 2011, net income fell to $147.2m against $150.7m last year.
The company has raised its full-year earnings per share forecast to $2.73-2.88, up on previous guidance of $2.63-2.83.
Comparable store sales increased 8% in the quarter, while sales declined to $2.39bn from $2.45bn last year. However, last year included $216.6m attributable to the Mast third-party apparel sourcing business, which it sold in November 2011.
Generally, 2013 is seen as being another challenging year for the apparel industry - although there is cautious optimism for an improved business environment. Issues such as compliance, sustainability...
Opportunities the apparel industry should focus on this year include developing strategic relationships to improve flexibility across the supply chain; a focus on adding value through design, innovati...
What should apparel firms have learnt from the upheaval of the past couple of years - and what should they be doing now if they want to remain competitive into the future? They need to remain nimble e...
Uncertainty is perhaps the biggest challenge facing the apparel industry in 2013. The economic situation in Europe and the US, a combination of rising production costs and flat prices, the pressure to...
2013 got off to a strong start for US clothing and footwear retailers in January, with many reporting their best performance since September 2011....
The following is a general roundup of US apparel and shoe retailers' January 2013 sales results....
Two campaigns carried out over the past two years by two groups of activists have achieved very different results. Whereas Greenpeace has successfully corralled major brands and retailers into its Det...
Ascena Retail Group has named Linda Heasley as president and CEO of plus sized clothing retailer Lane Bryant, which it acquired last year. ...
- Marks & Spencer to extend mobile phone monitoring
- China tightens on corporate social responsibility
- Outdoor industry's future must be more inclusive
- Factoring: a lifeline for apparel suppliers?
- Who has signed the Bangladesh safety accord?
- Adidas "Reebok sale" would be admittance of defeat
- H&M and The North Face commit to responsible down
- Bangladesh taps factory inspectors ahead of review
- Cambodia clothing factory collapse injures eight
- Coats to open new zip factory in Bangladesh
- Ethiopia – the emerging textile and clothing industry
- Apparel Market in China to 2018 - Market Size, Trends, and Forecasts
- Wool in the 21st Century: new prospects for a familiar fibre
- Global market review of denim and jeanswear – forecasts to 2020
- Prospects for the Textile and Clothing Industry in Vietnam