NEW YORK — Citing strong response to its current assortments, Mothers Work Inc. delivered a 6.3 percent increase in June same-store sales.
Comps for the third quarter rose 4.1 percent while total sales for the period ended June 30 rose 17.9 percent to $122.6 million from $104 million a year earlier.
The Philadelphia-based operator of nearly 900 maternity stores said June total sales increased 19.9 percent to $38.8 million from $32.4 million a year ago. MW also said overall inventory levels at the end of the month were just slightly higher than a year earlier and gross margins continue to improve.
Rebecca Matthias, president and chief operating officer, said in a statement, "We continue to realize meaningful gross margin increases over last year, primarily due to our success at reducing product costs through our aggressive sourcing initiatives."
The majority of the retail industry is expected to report monthly sales results for June on Thursday. Among those filing later this week are Wal-Mart Stores and Federated Department Stores. Both canceled their weekly sales updates because of the upcoming monthly report.
Though not reporting monthly sales, this past Monday Minneapolis-based Christopher & Banks Corp. said thattrading in its shares would move to the New York Stock Exchange from the Nasdaq on July 27, when its ticker symbol will become CBK. The specialty retailer has approximately 25.5 million shares of common stock outstanding
To celebrate the listing, Bill Prange, chairman and chief executive, will ring the NYSE opening bell that morning.
"We expect that the listing will provide our company with a more visible presence in the financial community and give our stock increased liquidity as well as reduced volatility," Prange said in a statement.
In a separate development, Standard & Poor’s lowered by one notch its corporate credit and senior unsecured ratings on May Department Stores Co. to "A" from "A plus." The downgrade reflects May’s below-average operating performance compared with that of its peers for the last two years, S&P said. S&P also affirmed its "A-1" commercial paper rating for the company’s $4.7 billion in outstanding debt as of May 4. In all cases, May’s outlook remains stable. According to S&P, the "A" rating indicates a company has "a strong capacity to meet financial commitments, but is somewhat susceptible to adverse economic conditions and changes in circumstances." The plus or minus is used to make relative differentiations within ratings groups.Overall, the day reversed course following Friday’s surge. Stocks found themselves once again in negative territory after questions about billions of dollars in revenues booked by drug giant Merck & Co. reignited investors’ accounting jitters. Lackluster results from Alcoa Inc., the world’s top aluminum producer, also depressed prices. The Dow Jones Industrial Average was off 104.60 points, or 1.1 percent, at 9,274.90, after having chalked up its biggest percentage gain in more than nine months on Friday. The Nasdaq Composite Index was down 42.68 points, or 3 percent, at 1,405.68, while the Standard & Poor’s 500 crept ahead 1.3 points, or 0.4 percent, to 325.11.
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
“Everyone is talking about how the retail industry is struggling, but I think it’s an incredible time because brands who are doing something different and innovative are setting themselves up for the future,” said @adamgoldston, who founded the luxury athletic brand @apl with his brother @ryangoldsten. The Goldston’s are part of WWD’s 40 under 40: a group of industry notables. See the rest of the list on WWD.com. (📷: @vsteves) #wwd40
@eyeswoon blogger Athena Calderone debuted her first-ever cookbook, “Cook Beautiful,” which is heavily centered on the presentation and visual expression of food. Pictured here are her miso glazed carrots from the book. Get the recipe on WWD.com. (📷: @johnny_miller_) #wwdeye
“It’s passion that helps get anybody to a certain point and it’s what’s propelled me,” said Kith founder @ronniefieg, one of WWD’s 40 under 40: a group of industry notables who are changing the face of retail, fashion and beauty. Fieg, who opened a Manhattan flagship on October 7, began his career at age 13 as a stock boy and salesman for footwear chain David Z. “I think staying true to [my] beliefs, hard work and passion have gotten me to where [Kith] is today.” See the rest of the 40 at WWD.com. (📷: @vsteves) #wwd40
25-year-old @samweaving is about to break out this fall, starring in Netflix’s horror film “The Babysitter,” fittingly out today on Friday the 13th. That’s not the only place you’ll be seeing her, though — Weaving’s got a role Showtime’s “SMILF” and another alongside Frances McDormand and Woody Harrelson in “Three Billboards Outside Ebbing, Missouri.” Though she’s got a full plate at the moment, there’s one role she’s got her eye on: Marilyn Monroe. “I’m a little too young at the moment, but it’s on my bucket list,” the actress told WWD (📷: @dandoperalski) #wwdeye
BFF's Poppy Jamie and Suki Waterhouse celebrated the launch of their bag line Pop x Suki at Nordstrom last night. "The line is really about our friendship, and how we are so different but complement each other," said Waterhouse. 👯 (📷: Katie Jones) #wwdeye
After designing the new @louisvuitton and @bulgariofficial flagships and a @chanelofficial boutique opening in Japan, @petermarinoarchitect has another project on his plate: The Lobster Club. Located in the Seagram Building, it’s the famed architect’s first restaurant project in New York, serving up modern Japanese brasserie-style cuisine. Bronze hues, bespoke material detailing, blush and chartreuse tones and a heavy emphasis on Picasso can be seen throughout. Mark your calendars for Nov. 1 for the much-anticipated opening. (📷: @clint_spaulding) #wwdeye
Did you know: @carlychaikin of "Mr. Robot" has been painting for about a decade? The actress, who plays Darlene on the show, is a self-taught artist who lists Salvador Dalí and Chuck Close as some of her idols. Chaikin told WWD that painting is a form of meditation for her — A much-needed one given the intensity of "Mr. Robot." See a piece Chaikin is working on at WWD.com (📷: @jilliansollazzo) #wwdeye