A company’s market capitalization is the total dollar value of all outstanding shares. It’s calculated by multiplying the number of shares times the current market price. Here are market cap winners and losers for the six months ended May 31. Companies have a market cap minimum of $50 million. Dollar figures are in millions.
May 2003: $59.7; November 2002: $19.9; Change: 200% EB Acquisition Ltd. recently made a cash offer of $5.50 a share for Elder-Beerman, but the retailer said it is negotiating exclusively with another as-yet-unidentified single party. The firm sought Chapter 11 bankruptcy protection in 1995, emerging as a publicly traded company in 1998.
OXFORD INDUSTRIES INC.
May 2003: $310; November 2002: $194.7; Change: 59.2%Oxford, which manufactures Lands’ End and other labels, bought Tommy Bahama owner Viewpoint International for $325 million in April. Women’s wear, which accounts for 41.9 percent of Oxford’s total sales, posted a 57.1 percent jump in sales to $87.5 million, for the three months ended Feb. 28.
May 2003: $4,736; November 2002: $3,019; Change: 56.9%Coach, which has been successful at creating a luxury aura without charging luxury price points, saw its profits soar 169.6 percent to $31.9 million, or 34 cents a diluted share, for the third quarter. Year-ago earnings were $11.8 million, or 13 cents.
GOODY’S FAMILY CLOTHING
May 2003: $220.5; November 2002: $142.3; Change: 55%Goody’s Family Clothing Inc. in June bought the Duck Head men’s label for selling and licensing, predicting it could grow into a $35 million to $40 million business within three years. Women’s and kids’ will be added. In May, Goody’s same-store sales advanced 3.5 percent.
May 2003: $759.2; November 2002: $508.5; Change: 49.3%Teen spending may be down, but Aeropostale seems to be getting its fair share of teens’ discretionary dollars. The chain posted a whopping 256.8 percent jump in earnings to $2.1 million, or 5 cents a diluted share, in the first quarter and plans to open 85 new stores over the course of the year.
BARNEYS NEW YORK
May 2003: $74; November 2002: $50.7; Change: 46%The hard work and soul-searching at Barneys New York is paying off. Last year, Barneys reported net income of $7.5 million, compared with a $15.2 million loss the previous year. Barneys is talking expansion again. A Co-op bowed in South Beach, Miami, in September and more units could come.
May 2003: $941.4; November 2002: $647.9; Change: 45.3%Quiksilver’s surf-inspired collections include the core Quiksilver and Roxy lines, as well as the Hawk, Quiksilver Silver Edition, Leilani, Raisins and Radio Fiji lines. While sales in the first quarter increased 25.4 percent to $78.6 million, the company’s net was down 9.1 percent to $3.7 million.
May 2003: $134.9; November 2002: $94.8; Change: 42.3%Knitwear manufacturer Hampshire Group acquired Requirements in September. Item-Eyes Inc., a privately held sportswear company purchased in 2000, accounted for $44 million in net sales.
May 2003: $6,233; November 2002: $4,409; Change: 41.4%Dollar General leads the supervalue chain industry with $6.1 billion in sales and more than 6,000 units. The no-frills stores have become popular with pinched shoppers, with nearly 60 million U.S. households expected to shop at dollar stores this year. Dollar General opens at least one new store a day.
May 2003: $265; November 2002: $192; Change: 38.2%Tel Aviv-based Delta Galil, is a global provider of private label intimate apparel and fabrics. Net profit and earnings per share for the first quarter increased 297 percent and 300 percent, respectively, to $7.3 million or $0.40 per share. Sales to the U.S. mass market rose 53 percent to $61 million.
May 2003: $539.8; November 2002: $999.7; Change: -46%Too Inc. is forsaking teens and its two-and-a-half-year-old Mishmash chain to devote more real estate to its core tween customer with a new as-yet-undisclosed concept. The retailer had a disappointing fourth quarter with same-store sales falling 12 percent.
May 2003: $59.6; November 2002: $108.2; Change: -44.9%Mossimo has been successful at Target since its debut there in 2001 when it did upward of $700 million in sales. The Target performance was strong enough to propel Mossimo stock back to trading on the Nasdaq. Is it any wonder that Target extended its license agreement until Jan. 31, 2006?
May 2003: $285.5; November 2002: $466.4; Change: -38.8%Alloy uses direct-mail catalogs, print media, Web sites, on-campus marketing programs and promotional events to feature brands geared to Generation Y. The company plans to expand its presence on college campuses and announced a shareholder rights repurchase plan in April.
May 2003: $123.1; November 2002: $191.7; Change: -35.8%Mother’s Work, the world’s largest designer and retailer of maternity apparel and owner of Motherhood Maternity, A Pea In The Pod and Mimi Maternity, said this month it will move into licensing to expand its brands. The company has 816 stores nationwide, plus 151 leased departments.
J. JILL GROUP
May 2003: $298.7; November 2002: $453.3 Change: -34.1%J. Jill, the Quincy, Mass.-based multichannel retailer, wants to become a national lifestyle brand. But first it must improve its performance. Earnings dropped 71.5 percent in the first quarter, although sales advanced 12.3 percent. This, after profits slid 11.9 percent in the previous quarter.
May 2003: $1,232; November 2002: $1,636; Change: -30.8%Dillard’s capped three years of declines with what chairman Bill Dillard described as a “shockingly bad” fourth quarter. Net and same-store sales for the quarter each declined 5 percent. The company closed five stores last year and Dillard vowed to continue to cut expenses.
May 2003: $202.8; November 2002: $281.7; Change: -28%Angling to get a bigger piece of the teen and tween pie, Charlotte Russe opened Charlotte’s Room, a lifestyle and accessories concept. But young women weren’t impressed. The chain closed Charlotte’s Room in March and will focus on its 270 Charlotte Russe and Rampage stores.
May 2003: $92.2; November 2002: $127.9; Change: -27.9%Caché, which sells clothing for women who’ve got it and want to flaunt it, saw same-store sales rise 4 percent in May, while total sales increased 9 percent to $17.8 million. However, in the first quarter, ended March 29, income fell 11.6 percent.
May 2003: $1,344; November 2002: $1,860; Change: -27.7%Saks Inc. posted a 1.6 percent same-store sales dip in May. The company is trying to hook new customers while they’re young. Saks Inc. bought the Libby Lu chain and helped FAO Schwarz by agreeing to buy $30 million of the bankrupt toy retailer’s convertible preferred stock.
May 2003: $4,699; November 2002: $6,358; Change: -26.1%During the first quarter ended April 26, Penney’s earnings fell 29.1 percent to $61 million. Chairman and ceo Allen Questrom is trying to turn things around. One of his marketing coups was getting Bisou Bisou exclusively for the chain. He’s now working on Oscar de la Renta.
SOURCE: PUBLIC RECORDS AND INDEPENDENT RESEARCH