Results for the second quarter ended July 30 were mixed for the retailers that reported on Thursday.
The Bon-Ton Stores Inc. registered a loss, while three others posted profits. Of the three, Ross Stores Inc. reported a jump in profits. The other two, Stein Mart Inc. and Stage Stores Inc., each posted declines in profitability.
Bon-Ton said it narrowed its loss to $32.3 million, or $1.78 a diluted share, from $33.7 million, or $1.91, last year. Sales declined 2.2 percent to $595.5 million from $608.6 million, as comparable-store sales decreased 1.5 percent.
For the six months, the loss widened to $68.3 million, or $3.79 a diluted share, from $57.3 million, or $3.24, last year. Sales fell 1.9 percent to $1.25 billion from $1.27 billion.
Bud Bergren, president and chief executive officer, said, “We made adjustments to our merchandise assortment that we believe will yield improved performance in the second half of the year. For example, we expanded our assortment of updated and better fashions, and we have seen strong customer response to these adjustments.”
Bergren noted that the company also “scaled back on select assortments in our slower selling traditional apparel. In addition, we’re introducing the new brands John Bartlett in our men’s division and Mambo in our young men’s and boy’s divisions — both exclusive to us and both providing newness that will resonate well with our customer.”
Ross Stores said income rose 14.7 percent to $148.3 million, or $1.28 a diluted share, from $129.3 million, or $1.07, last year. Sales climbed 9.3 percent to $2.09 billion from $1.91 billion, with comparable-store sales up 5 percent.
For the six months, income rose 18.3 percent to $321.2 million, or $2.76 a diluted share, from $271.6 million, or $2.24, last year. Sales rose 8.3 percent to $4.16 billion from $3.85 billion.
Michael Balmuth, vice chairman and ceo, said, “We are pleased with our better-than-expected performance for both the second quarter and first six months of 2011. Our ability to increase the percentage of fresh name-brand bargains our customers see, while also strictly controlling inventories and expenses, has enabled us to capitalize on our favorable position as a value retailer.”
Stein Mart said second-quarter income plummeted to $1.3 million, or 3 cents a diluted share, from $11.3 million, or 25 cents, last year. Sales were down 2.1 percent to $270.2 million from $276 million as comparable-store sales decreased 1.1 percent.
For the six months, income fell 32.8 percent to $17.2 million, or 38 cents a diluted share, from $25.6 million, or 57 cents, last year. Sales inched down 0.6 percent to $573.7 million from $577 million.
Stage Stores said income decreased 3 percent to $10 million, or 29 cents a diluted share, from $10.3 million, or 27 cents, a year ago. Sales gained 2.3 percent to $352.8 million from $345 million.
For the six months, income fell 23.7 percent to $9.6 million, or 27 a diluted share, from $12.5 million, or 32 cents, a year ago. Sales rose 2.1 percent to $699.3 million from $685.1 million.
Andy Hall, president and ceo, said that sales growth in the second quarter was “fueled by a new store count of 34 and the strength of our Goody’s rebranded stores.…We continued to develop our e-commerce platform and now expect to achieve e-commerce sales of $7 million this year.”
“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