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.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"