The mostly sad parade of third-quarter results continued Thursdaymorning with retailers posting losses out numbering those with profits bytwo-to-one.
The Bon-Ton Stores Inc. losses narrowed slightly to $14.3million from $19.4 million as comp sales fell 8.3 percent. The regionaldepartment store, however, lowered its guidance for the year and now expectslosses of $1.70 to $2.30 a diluted share, down from the previouslyforecast losses of $1.17 to $1.67.
Even Stein Mart Inc., which has alaser-focus on offering lower prices than its specialty and department storecompetition, said its losses widened to $14.1 million from $2.7 million a yearago as comps fell 12.6 percent. At Stage Stores Inc., a $95 million goodwillimpairment charge helped drag losses to $102.8 million, which compared withyear-ago earnings of $2.4 million a year earlier. Comps deceased by 10.3percent. New York & Co.’s losses narrowed to $7.9 million from $16 million,but same-store sales fell 14 percent.
There were some silver linings for theday, though.
The Buckle Inc. continued to effectively court the young andfashion conscious and in doing so, pushed earnings up 31 percent to $29.1million as comps jumped 19 percent.
And a tax benefit combined with lowerexpenses to help The Wet Seal Inc. reverse year-ago losses and post aprofit of 6.8 million even as comps fell 7.6 percent.
Gap Inc. will weigh inwith its results after the market closes.
Alberta Ferretti's "Rainbow Week" sweaters are back. The designer closed her #MFW show with a few day-of-the-week sweaters, which first debuted on the catwalk last January as part of the pre-fall 2017 collection. #wwdfashion (📷: @delphineachard)