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.
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)
Breaking News: @hedislimane joins @celine as its new artistic, creative and image director. One of fashion’s preeminent image-makers and trendsetters, Slimane is to join the LVMH brand on Feb. 1 and unveil his first fashion proposition for men and women next September during Paris Fashion Week. It marks a major homecoming for Slimane, who cemented his reputation – and influenced men’s tailoring for more than a decade – as the designer of Dior Homme between 2000 and 2007. He went on to reinvent and ignite the house of Yves Saint Laurent, which he rechristened Saint Laurent, between 2012 and 2016 – all the while maintaining a close relationship with the Arnault family, which controls LVMH and Dior. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
“Personally I believe the Eighties have been the richest and more vivacious period for international fashion,” Giorgio Armani said when asked what his favorite decade of fashion is. It was a moment of disruption and experimentation and only thinking back to the first years of that decade is always an emotion for me, for what they have meant to me and my work.” The influence is clear in @giorgioarmani spring 2018 collection, pictured here, which was full of bright colors and unexpected prints. Read more about which decades designers loved most on WWD.com #wwdfashion #wwddecades (📷: @aitorrosasphoto)
For Lady Gaga’s only Italian show on her “Joanne World Tour,” the singer wore a range of @versace_official outfits. The standout piece: this custom-made bodysuit inspired by the brand’s spring 2018 collection. #wwdfashion (RG: @ladygaga)
@_camillaruth_ is expanding on the wellness-craze concept with @westbourne – a new NYC restaurant that’s both a healthy-minded café as well as a business that gives back to the community. Marcus works with the Robin Hood foundation to give back to The Door, a non-profit providing youth development services, and also hires employees through The Door. Read our full interview with Marcus on giving back through food on WWD.com. #wwdeye (📷: @lexieblacklock)