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US Q1 in brief – Zumiez, Caleres, The Cato Corporation
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. Sales at Zumiez were down by moe than a third, while those at Express more than halved. Elsewhere, Lands' End has widened its net loss, and Ross Stores has reported its first quarterly operating loss in more than 30 years.
Retailers begin to outline store reopening plans – Update
Gap Inc, JCPenney, Caleres, and Adidas are among the latest apparel brands and retailers to outline reopening plans after stores and online operations were closed temporarily worldwide as part of efforts to help limit the spread of the coronavirus (Covid-19) outbreak.
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 closures as coronavirus spreads – Update
A raft of apparel and footwear brands and retailers including Next Plc, Primark, H&M, Nike and Gap Inc, are temporarily closing stores and suspending online operations as part of efforts to help limit the spread of the coronavirus (Covid-19) outbreak.
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.
TJX takes stake in Russian discount apparel retailer
TJX, the owner of retail chain T.J.Maxx, has taken a 25% stake in Russia's leading off-price apparel retailer Familia in a US$225m deal.
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.
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.
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.
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.
Amazon and TK Maxx again named in real fur faux pas
Retailers Amazon and TK Maxx have again been accused of selling clothing items containing real fur, following an investigation by a British TV programme.
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.
UK retailers found selling real fur labelled as fake
A number of British retailers, including TK Maxx, Boohoo and Amazon, have been found selling clothes and footwear containing real fur falsely advertised as fake fur, a new investigation has revealed.
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.
Dior, Nike and Inditex world's largest apparel companies
Parisian fashion house Christian Dior, US sporting goods behemoth Nike, and Spanish clothing giant Inditex have all topped Forbes' 2017 The World's Biggest Public Companies ranking.
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.
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.
PVH and Hanesbrands CEOs awarded for CSR work
Emanuel Chirico, chief executive of PVH Corp, and Richard Noll, chief executive of Hanesbrands, have both been named '2016 Responsible CEO of the Year' – with Chirico also picking up a Lifetime Achievement award.
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.
US Q4 in brief: Cherokee Global Brands, Perry Ellis, Destination Maternity
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.
TJX board elects Herrman as chief executive
Off-price retailer TJX Companies has appointed Ernie Herrman as its chief executive as part of a CEO succession plan announced last October.
US Q3 in brief: Finish Line, Gymboree, Cherokee Global Brands, Men's Wearhouse
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.
Low cost sourcing less of an option for apparel retailers
Upward pressure on sourcing costs is one of the new challenges set to face US apparel retailers in 2016 as a "fair, living wage" and "decent work conditions" become an integral part of product sourcing and marketing.
TJX CEO succession plan “positive” move
The CEO succession plan at TJX Companies is a positive move by the US retail group, analysts have said, as Ernie Herrman gets set to take the helm early next year.
Athletic players "well positioned" amid disruption
Deflationary pressures, the rise of Amazon and the expansion of off-price and fast fashion chains all have the potential to disrupt traditional US apparel retailers - but it is the athletic players that are “well positioned” to come out on top, analysts suggest.
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Insights
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