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US Q4 in brief – The Buckle, Guess, Iconix Brand Group
The latest fourth-quarter filings from US apparel and footwear brands and retailers show while some companies are beginning to recover from the market disruption caused by the Covid-19 pandemic, others are continuing to struggle.
American Eagle to close over 200 stores under new strategy
US apparel brand American Eagle Outfitters Inc has outlined plans to close more than 200 of its namesake branded stores, while growing its Aerie brand in order to hit revenues of US$2bn.
US Q1 in brief – VF Corp, J.Jill, Francesca's
In the latest first-quarter filings from US apparel and footwear brands and retailers, the impact of the global coronavirus pandemic and widespread store closures can be clearly seen. VF Corp has reported a net loss of US$285.6m, while Francesca's has seen a 50% drop in net sales. Elsewhere, Macy's, Inc said its net loss totalled $3.58bn and PVH Corp has posted an "unprecedented" decline in revenue and earnings.
US Q4 in brief – Boot Barn Holdings, VF Corp, PVH Corp
In the latest fourth-quarter filings from US apparel and footwear brands and retailers, Boot Barn Holdings has posted a fall in both earnings and revenue, while VF Corp and PVH Corp have both reported a net loss. Elsewhere, Oxford Industries has booked its twelfth consecutive quarter of positive comparable sales, while G-III Apparel Group saw profit rise but revenue fall.
Global retail staff and salary reductions amid Covid-19 – Update
As the impact of the coronavirus pandemic spreads across the apparel and footwear industry, brands and retailers are moving from store closures to worker lay-offs or furloughs, as well as executive pay cuts. Here are the latest:
US Q3 in brief –Boot Barn Holdings, VF Corp, Genesco
In the latest third-quarter filings from US apparel and footwear brands and retailers, Boot Barn Holdings has delivered an increase in both profit and revenue with the company "well-positioned" to deliver a solid finish to fiscal 2020, Stage Stores has narrowed its net loss, and American Eagle Outfitters has booked record sales. Elsewhere, J.Crew Group has announced an agreement on the terms of a transaction that will enable it to separate its J.Crew and Madewell brands into two independent companies and pursue a proposed IPO of Madewell.
US Q2 in brief – Boot Barn Holdings, VF Corp, Stage Stores
In the latest second-quarter filings from US apparel and footwear brands and retailers, Boot Barn Holdings has delivered what CEO Jim Conroy called an "outstanding" second-quarter, VF Corp has reaffirmed its full-year outlook, and Oxford Industries has posted its tenth consecutive quarter of consolidated comparable sales growth. Elsewhere, Genesco moved to a profit, while G-III Apparel Group has revised its full-year guidance in the wake of Trump's latest tariff hike.
American Eagle outlines bid to be carbon neutral by 2030
Global specialty retailer American Eagle Outfitters (AEO) has unveiled a series of new sustainability goals, including a plan to be carbon neutral by 2030 and a 30% reduction of water usage in its jeans production by 2023.
American Eagle Outfitters reduces China production
Retailer American Eagle Outfitters says it is continuing to pull production out of China in the wake of new tariffs introduced on imports into the US – and warns if they increase from 15% to 25% it may be forced to pass the cost on to consumers.
US Q1 in brief – Boot Barn Holdings, VF Corp, Cherokee Global Brands
In the latest first-quarter filings from US apparel and footwear brands and retailers, VF Corp has raised its fiscal 2020 outlook, Cherokee Global Brands booked a mixed first quarter and announced it will officially rebrand to Apex Global Brands, Destination Maternity reported a challenging start to the year amid the news Marla Ryan will step down as CEO, while PVH Corp saw profits slip. Dick's Sporting Goods enjoyed higher sales as did Footlocker.
American Eagle launches extended sizing for denim
Global specialty retailer American Eagle Outfitters' (AEO) is expanding its jeans sizes up to a 24 for women and a 48 for men, in a move that will help it drive a more personalised experience in-store and online.
US Q4 in brief – VF Corp, Boot Barn Holdings, Destination Maternity
In the latest fourth-quarter filings from US apparel and footwear brands and retailers, Iconix Brand Group reported a GAAP net loss, CEO of PHV Corp, Emanuel Chirico, said the company is "very pleased" with its fourth-quarter and full year 2018 results, and Guess Inc released its first results under new CEO Carlos Alberini.
Guess and American Eagle join CanopyStyle initiative
US fashion retailer Guess Inc and global specialty retailer American Eagle Outfitters (AEO) are among the latest companies that have pledged to stop sourcing the raw material for their viscose and rayon textiles from ancient and endangered forests.
American Eagle Outfitters launches denim recycling programme
US apparel retailer American Eagle Outfitters (AEO) has partnered with Cotton Incorporated to encourage shoppers to recycle denim with a new campaign that will run for the remainder of the month.
American Eagle Outfitters rolls out subscription service
US apparel retailer American Eagle Outfitters has launched AE Style drop, a rental subscription service for clothing.
US Q3 in brief – Boot Barn Holdings, VF Corp
In the latest third-quarter filings from US apparel and footwear brands and retailers, Francesca's Holdings Corporation swung to a third-quarter loss of US$16.2m, PVH Corp posted what CEO Emanuel Chirico called a "strong earnings performance", and Abercrombie booked its fifth consecutive quarter of positive comparable sales.
US Q2 in brief – Boot Barn Holdings, VF Corp, Sears
In the latest second-quarter filings from US apparel and footwear brands and retailers, VF Corp raised its full-year guidance on strong sales and earnings, while L Brands reported a 28.7% drop in earnings, and Urban Outfitters achieved record second-quarter sales and a jump in profit.
US Q1 in brief – Destination Maternity, Tailored Brands, Boot Barn
In the latest first-quarter filings from US apparel and footwear brands and retailers, PVH Corp saw revenues exceed guidance thanks to strength across the business, while Guess saw continued momentum in Europe and Asia push earnings and sales up in the three months ended 5 May. Dick's Sporting Goods raised its full-year outlook and Destination XL narrowed its net losses.
US Q4 in brief – Boot Barn Holdings, Destination Maternity
In the latest fourth-quarter filings from US apparel and footwear brands and retailers, Destination Maternity narrowed its net loss, Sears was boosted by the new US tax law, Caleres returned to profit, Dick's Sporting Goods achieved growth across key businesses, and Urban Outfitters produced record fourth-quarter sales.
US Q3 in brief – Deckers Brands, Boot Barn Holdings
In the most recent third-quarter filings from US apparel and footwear brands and retailers, Deckers Brands exceeded expectations, while Boot Barn Holdings saw earnings nearly double. Destination Maternity, meanwhile, widened its losses.
US holiday sales in brief – The Children's Place, Nordstrom, Target Corp
Holiday sales have seen a solid performance at many leading US apparel and footwear retailers, with Target, American Eagle Outfitters, JC Penney, Urban Outfitters and Kohl's among those who have benefited from increased consumer spending on the back of strong economic growth, low unemployment and rising home and equity prices.
US Q2 in brief – Finish Line, Zumiez, Tailored Brands, Vince Holding
In the most recent second-quarter filings from US apparel and footwear brands and retailers, PVH upped its full-year guidance based on strong second-quarter results, while Guess saw its results boosted by solid growth in both Europe and Asia. Oxford Industries, meanwhile, saw mixed results as earnings fell but sales edged up.
US Q1 in brief – Cherokee, The Finish Line, J Crew
In the most recent first-quarter filings from US apparel and footwear brands and retailers, G-III Apparel moved to a loss on acquisition charges, while Guess saw earnings fall on soft Americas sales. Kate Spade, meanwhile, saw earnings slump on the back of sales declines, while Hudson's Bay recorded comparable store declines on the back of lower domestic store traffic across all banners.
US Q4 in brief – Cherokee, Vince Holding, Destination Maternity
In the most recent fourth-quarter filings from US apparel and footwear brands and retailers, Destination XL moved to a profit but booked lower sales, while Caleres moved to a loss in the quarter. VF Corporation, meanwhile, revealed a fall in both sales and earnings for the quarter, while Stein Mart moved to a loss as a result of "aggressive" promotions.
US apparel retail shifts reveal misconceptions
The death of the department store, the exaggerated rise of Amazon as an apparel retailer power, and the threat of European fast-fashion specialists to US retail are among a number of misconceptions currently bedevilling the retail industry, a new report explains.
American Eagle Outfitters outlines 2017 growth plans
US apparel retailer American Eagle Outfitters has revealed plans for new-look stores, designed to highlight its "leading" jeans business, alongside plans to grow its Aerie lingerie brand.
US Q3 in brief – The Finish Line, Destination Maternity, Cherokee, Sears
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.
American Eagle Outfitters taps Ralph Lauren's Madore as CFO
US apparel retailer American Eagle Outfitters has appointed former Ralph Lauren finance chief, Bob Madore, as its new CFO.
US Q2 in brief - The Finish Line, Cherokee, Zumiez, Vince Holding, Tailored Brands
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.
Denim and athleisure top picks for back-to-school
With the second-biggest shopping season of the year now underway, analysts are cautiously optimistic that back-to-school sales will provide a much-needed lift for US clothing retailers thanks to several key trends and well-controlled inventory levels.
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