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.
@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)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“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