NEW YORK — A quartet of specialty retailers Tuesday reported sizzling June sales, with some even boosting their second-quarter forecasts.
Chico’s FAS and Pacific Sunwear posted double-digit comparable-store sales gains for June, up 15 percent and 10.5 percent, respectively. Charming Shoppes saw June comps rise 5 percent. Citing brisk sales of full-priced merchandise, J. Jill Group said it estimates earnings to run well ahead of Wall Street’s forecasts.
Jennifer Black, retail analyst at Wells Fargo Securities, put the first batch of June results in a long-term context: "Specialty stores will continue to gain market share from department stores." Specialists, she noted, are doing a better job at making the shopping experience easier for time-starved consumers and are more focused on the attitudes and desires of their core consumers.
Chico’s, based in Fort Myers, Fla., reported yet another comp gain in June, this time 15 percent on total sales that improved 42 percent to $46.5 million. Sales were up more than 40 percent during the third week of the five-week month because of a "secret sale" for Chico’s Passport members.
Pacific Sunwear of California reported a 10.5 percent increase in June comps, comprised of a 10.5 percent comp increase at PacSun stores and 10.3 percent comp gain at Demo.
"At PacSun, our footwear business remained very strong with a 17 percent comparable-store sales increase. Our girls’ business was also strong and achieved a 1 percent comparable-store sales increase, while accessories achieved a slightly positive same-store sales increase," Greg Weaver, chairman and chief executive, said in a statement.
With a 12 percent jump, PacSun’s men’s business had its first comp gain in 17 months, he noted. In addition, new brands and initiatives have been well received.
Based on June sales’ results and the assumption of flat same-store sales this month, the company said it now expects second-quarter earnings to be 18 cents a share, exceeding both current consensus earnings per share estimates of 15 cents and the 11 cents recorded in last year’s quarter.
Bensalem, Pa.-based Charming Shoppes, the nation’s leading specialty retailer of plus sizes, said June sales rose 5 percent and it reaffirmed earnings and growth plans for the fiscal 2003 year. The retailer said it expects EPS in the range of 41 to 43 cents, versus 19 cents before restructuring charges in 2002. With comps in the low-single digit range, total sales are expected to be roughly $2.45 billion.The J. Jill Group, based in Quincy, Mass., said that due to reduced promotions and strong full-price selling, it expects second-quarter EPS to run between 28 to 30 cents, versus current consensus estimates of 18 cents and 14 cents for the same period last year. It also said it expects sales to increase between 15 and 20 percent for the rest of 2002 and EPS to range from 99 cents to $1.03, compared to 70 cents last year.
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
“Everyone is talking about how the retail industry is struggling, but I think it’s an incredible time because brands who are doing something different and innovative are setting themselves up for the future,” said @adamgoldston, who founded the luxury athletic brand @apl with his brother @ryangoldsten. The Goldston’s are part of WWD’s 40 under 40: a group of industry notables. See the rest of the list on WWD.com. (📷: @vsteves) #wwd40
@eyeswoon blogger Athena Calderone debuted her first-ever cookbook, “Cook Beautiful,” which is heavily centered on the presentation and visual expression of food. Pictured here are her miso glazed carrots from the book. Get the recipe on WWD.com. (📷: @johnny_miller_) #wwdeye
“It’s passion that helps get anybody to a certain point and it’s what’s propelled me,” said Kith founder @ronniefieg, one of WWD’s 40 under 40: a group of industry notables who are changing the face of retail, fashion and beauty. Fieg, who opened a Manhattan flagship on October 7, began his career at age 13 as a stock boy and salesman for footwear chain David Z. “I think staying true to [my] beliefs, hard work and passion have gotten me to where [Kith] is today.” See the rest of the 40 at WWD.com. (📷: @vsteves) #wwd40
25-year-old @samweaving is about to break out this fall, starring in Netflix’s horror film “The Babysitter,” fittingly out today on Friday the 13th. That’s not the only place you’ll be seeing her, though — Weaving’s got a role Showtime’s “SMILF” and another alongside Frances McDormand and Woody Harrelson in “Three Billboards Outside Ebbing, Missouri.” Though she’s got a full plate at the moment, there’s one role she’s got her eye on: Marilyn Monroe. “I’m a little too young at the moment, but it’s on my bucket list,” the actress told WWD (📷: @dandoperalski) #wwdeye
BFF's Poppy Jamie and Suki Waterhouse celebrated the launch of their bag line Pop x Suki at Nordstrom last night. "The line is really about our friendship, and how we are so different but complement each other," said Waterhouse. 👯 (📷: Katie Jones) #wwdeye
After designing the new @louisvuitton and @bulgariofficial flagships and a @chanelofficial boutique opening in Japan, @petermarinoarchitect has another project on his plate: The Lobster Club. Located in the Seagram Building, it’s the famed architect’s first restaurant project in New York, serving up modern Japanese brasserie-style cuisine. Bronze hues, bespoke material detailing, blush and chartreuse tones and a heavy emphasis on Picasso can be seen throughout. Mark your calendars for Nov. 1 for the much-anticipated opening. (📷: @clint_spaulding) #wwdeye