A dose of cool autumn weather helped produce some badly-needed traffic and allowed retailers to report October sales that were unspectacular but better than expected.
Among the small group which continues to supply sales data on a monthly basis, all but Zumiez Inc. checked in with better comparable results than those expected by analysts.Gap Inc. reports its October results this afternoon, after the close of the markets.
L Brands Inc., formerly Limited Brands, supplied the biggest upside surprise Thursday morning, reporting an 8 percent leap in overall comps and a 10 percent jump at the Victoria’s Secret division, versus anticipated respective increases of 2.2 and 2.3 percent, according to Thomson Reuters. Bath & Body Works’ 4 percent gain was more than twice the 1.8 percent increase expected, although La Senza fell short with a 2 percent decline against an expected rise of 2.5 percent.
Stein Mart Inc. continued its winning streak with a 5.4 percent increase for the month, more than double the 2.5 percent increase expected. “We are working hard to maintain our momentum through the fourth quarter, despite the shortened holiday selling season and highly promotional environment we see around us,” said Jay Stein, chief executive officer.
The Buckle Inc. was expected to register a 1.7 percent comp decline for October but instead posted a 2.6 percent increase. However, Zumiez fell short of the 1.7 percent increase expected with a 1.2 percent gain.
Continuing to battle to get a new distribution center functioning properly, American Apparel Inc. reported a 1 percent decline, with the 3 percent decline in its same-store sales nearly offset by a 12 percent increase in online revenues. Dov Charney, chairman and ceo, said the company’s management was “beginning to breathe a sigh of relief that we are overcoming some of the challenges we were experiencing at our new distribution center.”
Cato Corp. reported that its comps were up 3 percent last month versus expectations for a 2 percent decline. “October sales benefited from some cooler weather during the month relative to the prior year,” said John Cato, chairman, president and ceo. “However, we continue to expect a difficult sales environment through the fourth quarter.”
Cato raised its guidance for third-quarter earnings to a range of between 13 and 15 cents a diluted share, up from previous estimates of between 2 and 9 cents but below the 16 cents reported in the comparable quarter last year.
Gap Inc. is expected to report a 0.1 percent increase in overall comps for the month, with increases at Gap and Old Navy compensating for a decline at Banana Republic.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast