Federated Posts Share Increases NEW YORK — Federated Department Stores Inc. saidMonday it will earn 33 cents per share more than expected in the second quarter because of a favorable tax settlement.The retailer guided second-quarter earnings, including the adjustment solely for the tax settlement, to between 78 cents and 88 cents. It also estimated earnings per share for the year at $3.83 to $4.08.
Wal-Mart Propelled By Upward Sales NEW YORK — At Wal-Mart Stores Inc., income for the quarter ended April 30 gained 6.3 percent to $2.62 billion, or 63 cents a share, from $2.46 billion, or 58 cents, in the same year-ago period. Sales rose 12.3 percent, which included a same-store sales gain of 3.8 percent for its U.S operation. By division, sales at Wal-Mart stores rose 10.2 percent to $52.5 million, while comps gain 3.8 percent. Sam’s Club sales increased 6.8 percent to $9.8 million, with a 4.3 percent rise in comps. The international operation posted a 22.9 percent gain in sales to $17.3 million.
Saks' Northern Department Store Sale Aids Profits NEW YORK - Saks Inc. reported a first-quarter profit due to a one-time gain on the sale of its Northern Department Store Group. For the three months ended April 29, income was $81.5 million, or 60 cents a diluted share, compared with $16.2 million, or 11 cents, a year ago. Wall Street consensus estimates had the first-quarter earnings per share at 9 cents. Sales for the quarter, however, declined by 32.9 percent to $1.04 billion from $1.55 billion, while comps decreased by 1.9 percent.
American Eagle Profits Up NEW YORK - Specialty chain American Eagle Outfitters said first-quarter results for the three months ended April 29 reflected a 16.1 percent gain in profit to $64.2 million, or 42 cents, from $55.3 million, or 35 cents, in the same year-ago quarter. Sales rose 14.4 percent to $522.4 million from $456.5 million, while comps increased 9 percent on top of the 27 percent gain a year ago.
TJX Reports Income Increase NEW YORK - The TJX Cos. Inc., a specialty retailer of off-price stores, for the quarter ended April 29 posted a 20.8 percent increase in income to $163.8 million, or 34 cents a diluted share, from $135.6 million, or 28 cents, last year. Sales in the quarter rose 6.7 percent to $3.90 billion from $3.65 billion, while comps inched up 1 percent. For complete coverage, see tomorrow's WWD.
Breaking News: @louisvuitton's men's artistic director @mrkimjones is leaving the French fashion house after nearly 7 years. Jones joined Louis Vuitton in 2011, following a three year tenure as creative director of British luxury goods brand Alfred Dunhill. Jones is to exit Louis Vuitton after showing his fall 2018 collection for the brand in Paris on Thursday. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
For men’s fall 2018, @giuseppezanotti drew on elements from streetwear, sport, biker, combat and rock ‘n’ roll. Pictured here are a pair of shoes from the collection, featuring zippers, rhinestones, and silver hardware. Head to WWD.com to see a roundup of the accessories from Milan’s men’s fall 2018 shows. #wwdfashion (📷: Andrea Delb)
To celebrate the 25th anniversary of @ralphlauren’s snowboarding collection, the brand is mining its archives. The iconic brand is reintroducing vintage styles and dropping new designs for a color capsule that will be available in Ralph Lauren stores and @openingceremony on January 25. The capsule will consist of 10 pieces, including the Snow Beach Pullover, pictured here, which is a collector’s item that rapper Raekwon wore in Wu-Tang Clan’s “Can It Be All So Simple” video. #wwdfashion (📷: Tom Gould)
For @rochasofficial’s pre-fall 2018 collection, creative director Alessandro Dell’Acqua channeled the sophisticated and intriguing Catherine Denevue in the film “Belle de Jour.” Polished collarless coats, midi skirts, suits and ’60s graphic motifs were all featured in the collection, adding a sense of discreet luxury. See the rest of the photos on WWD.com #wwdfashion
“We tried to produce clothing of that couture quality, but the most daunting part was that we only had a matter of days [to do it],” said costume designer Lou Eyrich, who recreated Gianni Versace’s iconic looks for @americancrimestoryfx. Eyrich searched online retailers and vintage shops for original pieces from the design house and for @penelopecruzoficial, who plays Donatella Versace. Head to WWD.com to read how she created the Versace world. #wwdfashion
Only three months after her stellar debut catwalk season, @kaiagerber has inked her first big design collaboration –– with @karllagerfeld. The collection blends Lagerfeld’s Parisian chic aesthetic and the model’s signature West Coast casual style via RTW, accessories, footwear and more. The #KarlLagerfeldxKaia collection will launch in September with a series of events. Get all the details on WWD.com. #wwdnews #wwdfashion
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews