Four major retailers stretching from mass to class took a cautious stance about the outlook for the second quarter, and it was enough to send retail stocks into a swoon.
Wal-Mart Stores Inc., Saks Inc., Abercrombie & Fitch Co. and The TJX Cos. Inc. on Tuesday all delivered bottom-line results in the first quarter that were not only better than the depressed ones of a year ago but also ahead of Wall Street estimates. However, all hedged their bets in some fashion, whether through forward-looking guidance that disappointed Wall Street, as with Wal-Mart and TJX, or with a deceleration of strategy for Europe, as evidenced by A&F’s stringent margin standards for expansion on the Continent, itself the focus of considerable economic turmoil in recent months.
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?"