Third-quarter financial results from Chico’s FAS Inc., Signet Jewelers and Burlington Coat Factory underscored the continuing theme that off-price is one of the few safe bets left for retail investors.
Total sales at Burlington during the quarter rose 7.1 percent to $1.44 billion, driven by new stores, while net income increased by 38 percent to $45 million. Comparable-store sales increased by 3.1 percent, but the results beat the retailer’s internal guidance, leading to a bump to its full-year earnings per share guidance to a high of $4.27 from $4.18.
Exclusive: @tommyhilfiger has tapped 22-year-old actress @zendaya to be his newest collaborator and together they will launch a see-now-buy-now collection in February. Speaking to WWD about the project, the Spider-Man actress said: “Fashion is more than just wearing cool clothes. It’s a way to celebrate self-expression and individuality, which is extremely empowering. This is why I am proud to partner with Tommy Hilfiger.” Tap the link in bio for the full scoop. #TommyXZendaya #wwdfashion
Fashion is facing a blistering pace of technology, a complex economic backdrop, and shifting social mores, priorities, and lifestyles. WWD's annual CEO summit on Oct. 30 and 31, will be the meeting place for some of the sharpest minds in the business who will address how these forces affect a consumer. Speakers this year include Antoine Arnault, Virgil Abloh, Gabriela Hearst, and Olivier Rousteing. Tap the link in our bio to find out more. #wwdceosummit