Retailers managed increases despite spotty traffic in June as consumers responded to promotions and more seasonal weather.
Among stores filing June sales results Thursday morning, Costco Wholesale Corp. registered the strongest increase, up 6 percent versus expectations of a 5.4 percent gain among analysts polled by Thomson Reuters. Wholesale clubs regularly were cited among the stronger distribution channels in the International Council of Shopping Centers’ weekly sales reports.
L Brands came in short of consensus estimates for a 3.1 percent advance for the month with a 2 percent increase. While Victoria’s Secret stores gained 3 percent, just under the 3.2 percent increase expected, Bath & Body Works was more significantly below anticipated growth of 3.3 percent with its 1 percent increase. Victoria’s Secret Direct was up 6 percent for the month.
Increases at Victoria’s Secret stores were driven by lingerie and Pink, the company said. Throughout the company, merchandise margins were down for the month while inventory per square foot fell 2 percent from a year ago. Amie Preston, chief investor relations officer, described inventories as “very clean.”
Stein Mart Inc. fell short of an anticipated increase of 3 percent with a 2.6 percent uptick. The firm said that stores in Florida, the Carolinas and California enjoyed the strongest sales trends while units in the Gulf States and Texas were “more challenged.”
Cato Corp. was up 3 percent last month, above the estimated 1 percent decline expected on average by analysts.
Teen retailers The Buckle Inc. and Zumiez Inc. registered gains of 0.7 and 3.1 percent, respectively. Analysts had expected a 0.6 percent decline at Buckle and a 1.8 percent increase at Zumiez.
Gap Inc. reports its June sales results after the markets close today. The Thomson Reuters estimate is for a companywide gain of 0.7 percent, with Gap brand off 0.7 percent, Old Navy up 0.1 percent and Banana Republic up 2.3 percent.
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion
“I’m Russian and I love to use all these little tricks that I got from my grandma or my mom. We didn’t have a lot of money for creams or anything like that so we would use a garden as a beauty treatment regime. We’d put cucumber in the fridge and do a cucumber mask,” says model @irinashayk on one of her beauty hacks. WWD asked celebs what their go-to self-care rituals are. See what Naomie Harris, Freida Pinto and more said on WWD.com. #wwdeye #wwdbeauty (📷: @zefashioninsider)
Exclusive: @viktorandrolf are teaming up with @Zalando on a collection made from leftover clothing. The lineup, which lands at the retailer February 1, includes 17 pieces adorned with sliced up and repurposed overstock from the retailer’s private label collection. Pictured here is a look from the collection –– see more on WWD.com. #wwdfashion #wwdnews
@duewestnyc is the newest bar joining the collection of intimate neighborhood-focused spaces in the West Village. The cocktail menu, which includes bitters and syrups made in-house, offers a “Build Your Own Old-Fashioned” – like the one pictured here – where guests can choose from a list of spirits and unexpected sugars and bitters. #wwdeye
Spotted at last night’s National Board of Review gala in NYC: Angelina Jolie. Jolie – along with Meryl Streep, @lupitanyongo and more – continued the all-black dress code from Sunday’s Golden Globes. #wwdeye (📷: @lexieblacklock)