Markdowns in the fourth quarter weakened the bottom lines of specialty retailers Talbots Inc. and American Eagle Outfitters Inc., while Hot Topic Inc. posted a hefty profit on improved cost controls.
Talbots Inc. on Wednesday posted both fourth-quarter and full-year losses. For the quarter ended Feb. 2, the loss was $171.4 million, or $3.23 a diluted share, against income of $17,000, or breakeven a diluted share, in the same year-ago quarter. Sales were down 7.9 percent to $587.4 million from $638 million.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"