Despite 1.5% Sales Gain, Talbots' Earnings Fall NEW YORK — In the midst of digesting its J. Jill acquisition, The Talbots Inc. posted first quarter earnings that fell 21 percent on a 1.5 percent sales gain.
The Hingham, Mass.-based specialty retailer also said second quarter results would be below Wall Street estimates. Management said earnings per share will likely reflect “the impact of J. Jill’s weak second quarter sales, which will result in a significant loss in the period and represents a continuation of their first quarter trends.”
For the first quarter ended April 29, Talbots’s net income dropped to $27.4 million, or 51 cents a share, from $34.5 million, or 63 cents, in the prior year on sales that climbed to $453 million from $446.5 million.
Ross Strong Sales Aid 4Q Earnings Increases NEW YORK — Ross Stores showed robust first-quarter sales and earnings increases driven by strong sales in the Southwest and Texas and a decline in distribution costs.
The off-price retailer reported first-quarter net earnings Wednesday that rose 18.2 percent to $59.2 million, or 41 cents a diluted share, from $50.1 million, or 34 cents a share, the prior year. The average analyst estimate for earnings per share for the quarter was 41 cents.
Sales also increased 18.2 percent to $1.3 billion from $1.1 billion during the first quarter last year. Comp store sales for the period were also up, rising 6 percent over last year.
Specialty Retailers Report Improved Profit Margins NEW YORK — Improved sales along with less markdowns drove the top line and gross profit margins of specialty retailers reporting results this week.
On Wednesday, ‘tween girls retailer Too Inc. posted earnings that soared 58.1 percent on an 18.7 percent sales gain for its first quarter while Charming Shoppes Inc. clocked a 7 percent profit gain on a 22 percent sales increase. Zale Corp., in the midst of an Securities and Exchange Commission investigation while having an acting chief executive officer at the helm, said sales jumped 2.2 percent with earnings benefiting from a retirement benefit settlement.On Tuesday, plus-size retailer United Retail Group experienced significant gross margin gains that pushed earnings up 92.8 percent on a 2.7 percent sales increase.
Zale said its third quarter net income climbed 15.9 percent to $16.8 million, or 35 cents a diluted share, from $14.5 million, or 28 cents, in the prior year’s quarter on total revenue that climbed to $526.9 million from $515.6 million. Results include charges and gains made from severance payouts and the settlement of “certain retirement benefits.” Excluding these line items, net income for the quarter was $11.6 million, or 24 cents.
Acting ceo Mary E. “Betsy” Burton said on a conference call that the company is “cooperating fully” with the SEC investigation, which is in regard to accounting issues.
“We are reviewing the item they raised which relates to the areas of extended service agreements, leases, accrued pay roll and the timing of certain vendor payments,” Burton said. “We believe based on our current knowledge that our accounting was appropriate and complied with [generally accepted accounting principals].”
“What he has done at Vuitton is really exceptional,” said @gameofthrones’ actress Gwendoline Christie on @mrkimjones’ final show for @louisvuitton. “He has rebooted luxury in terms of making it commercial, viable and contemporary. And most importantly artistic. He has never compromised his artistic vision for the sake of commodity.” (📷: @zefashioninsider)
After seeing a demand for men’s wear from its customers, British contemporary women’s wear label @ariesarise has added a men’s wear component and will launch a unisex collection with @mrporterlive. The 20-piece collection includes jackets, denim, logo T-shirts and more with deconstructed ‘90s vibes. Set to launch on January 18, you can shop the pieces on Aries’ website and on mrporter.com. #wwdfashion
“And so spending so much time with a character who thinks like that, inevitability you try and analyze yourself and go back and think about your own demons and dark chapters that you had in your life,” says @thedanielbruhl of his role in TNT’s “The Alienist.” The show, set in the Gilded Age of New York, also stars Dakota Fanning and Luke Evans. Head to WWD.com to read about how 39-year-old Brühl prepared for the role and why he thinks the show is so relevant to today #wwdeye ( 📷: @Eriktanner)
Now that Celine Dion’s collection has topped $10 million in sales, the pop superstar, fashion icon and newly-minted industry player is eyeing growth in Asia. Read the full report by @tiffanyap, link in bio. #wwdnews #celinedion
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
Among the familiar faces at @off____white’s show was a surprise figure: Japanese artist @takashipom, pictured here on Wednesday morning. Other show-goers included @jerrylorenzo, who spoke about his upcoming project: a @nike collaboration for back to school, with designs inspired by his childhood on the West Coast. Sitting in the front row were Future, Don Crawley, @miguel and more. See the rest of the photos on WWD.com #wwdeye (📷: Stephane Feugere)
According to @laurentsai, former “Terrace House: Aloha State” cast member, she didn’t know she was auditioning for the Japanese version of “Real World.” “I was telling a couple of my friends and someone’s like, ‘That sounds a lot like Terrace House.’ I was like, ’No it can’t be.’” Turns out, it was. But Tsai isn’t just a reality star — she’s an illustrator who has worked with Starbucks Japan and most recently, she’s dipping her toes into the fashion world. Head to WWD.com to read about her time on the show, modeling and her art. #wwdeye (📷: @danieldorsa)
More changes are coming to New York Fashion Week: Beginning with the spring 2019 collection, @alexanderwangny will move his New York show to June from September, adopting a biannual schedule with collections shown in June and December. Additionally, the @cfda is planning for an official summer/winter fashion season taking place as soon as June and December 2018. Read more about the upcoming changes on WWD.com. #wwdnews #wwdfashion (📷: @slovekinpics)