Four specialty retailers posted fourth-quarter results on Thursday, with Pacific Sunwear of California Inc. the big loser as its quarterly profit dropped 42.3 percent.
The skate-and-surf-inspired chain said earnings for the period ended Feb. 2 fell to $5.2 million, or 7 cents a share, from $9.1 million, or 13 cents. Sales fell 7.8 percent to $420.1 million from $455.8 million, while total same-store sales decreased 2.2 percent. By division, comps at PacSun increased 2.1 percent, and declined 31 percent at the d.e.m.o. chain.
For the year, the chain lost $30.4 million, or 44 cents a share, as sales inched up 0.8 percent to $1.45 billion.
PacSun expects full-year earnings from continuing operations in the range of 73 to 77 cents a share, but expects to report a loss of 6 to 8 cents a share during the first quarter. The company previously said it was discontinuing its d.e.m.o. business.
Eddie Bauer swung to a fourth-quarter loss for the three months ended Dec. 29.
The retailer lost $18.2 million, or 59 cents a share, against a profit of $63.2 million, or $2.11, a year ago. Sales rose 2.7 percent to $392.4 million from $381.9 million, while total same-store sales grew 4.8 percent.
For the year, the loss narrowed to $101.7 million, or $3.33 a share, while sales grew 3 percent to $1.04 billion.
On the positive side, Aéropostale Inc. said for the three months ended Feb. 2, income rose to $64.7 million, or 95 cents a share, from $57.3 million, or 72 cents, in the same year-ago period. Sales grew 16.7 percent to $591.3 million from $506.8 million, while total same-store sales increased 9.2 percent.
For the year, income rose 21.1 percent to $129.2 million, or $1.73 a share, on a sales gain of 12.6 percent to $1.59 billion.
The company expects first-quarter earnings in the range of 20 to 22 cents a share, and for the year predicts earnings of $1.70 a share.
Despite slowness in sales in the second half of the year, action-apparel retailer Zumiez Inc. reported a 10.3 percent increase in fourth-quarter earnings.
For the three months ended Feb. 2, earnings reached $12.4 million, or 42 cents a share, from $11.3 million, or 39 cents, last year. Sales for the quarter rose 12.7 percent to $126.6 million from $112.4 million. Total same-store sales grew 4 percent.For the year, earnings rose 21.4 percent to $25.3 million, or 86 cents a share, on a sales gain of 27.9 percent to $381.4 million.
The company forecasts full-year guidance in the range of 90 to 93 cents a share.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
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Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
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For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)