Even as Wal-Mart Stores Inc. reported flat first-quarter net income, the results positioned it as this earnings season’s leader in profit performance, at least so far, as well as in price and volume. That stood in direct contrast to the other stores reporting results Thursday, all of which saw profits decline. Nordstrom Inc., Urban Outfitters Inc. and Kohl’s Corp. saw profits fall 31.9 percent, 27.6 percent and 10.5 percent, respectively, but all three finished above consensus estimates. And while major banks may be healthier than originally feared and hopes may be rising that the economy has bottomed out, there is still one word that continues to strike terror in the hearts of business executives and government officials alike: deflation.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)