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.
Steve Aoki held a presentation, a runway show and outdoor concert for his men's line Dim Mak. Here's a look from his spring 2018 collection, which was titled "Paradise Found." #wwdfashion #wwdmens (📷: George Chinsee)
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