The Buckle’s Q2 Profits Slide 9 Percent
Profits at The Buckle, Inc. fell 9 percent in the second quarter ended July 29 as sales sagged 3.2 percent.
Farfetch Revenues Tick Down in Q2 as In-Store Decline Offsets Digital Gains
Consolidated total revenue decreased 1.3 percent year-over-year to $572.1 million in second quarter, with an in-store decline offsetting 10.2 percent growth in Digital Platform revenues.
EXEC: Walmart’s Robust Q2 Delivers Upbeat Signal for Retail’s Recovery
Walmart, Inc. lifted its outlook for the year after reporting second-quarter results that handily topped guidance due to strength in the grocery but also a better-than-expected performance in general merchandise. The strong results were a relief for the retail sector following sluggish sales reports from Target and Home Depot although Walmart’s CEO Doug McMillon told analysts household budgets remain under pressure.
Ross Stores Swings to Positive Q2 Comp Store Sales Trend; EPS Increases
Comparable store sales were up 5 percent, partially reversing the 7 percent comp store sales decline in the second quarter of 2022.
U.S. Jobless Claims Fall As Economy Chugs Along
In the week ending August 12, the advance figure for seasonally-adjusted initial claims declined 11,000 to 239,000 from the previous week’s revised level. The previous week’s level was revised up by 2,000 from 248,000 to 250,000.
Walmart Makes Leadership Changes Across Operating Segments
Walmart announced several leadership changes to its core operating units. Judith McKenna, president and CEO of Walmart International, announced her retirement. She will be succeeded by Kath McLay. Chris Nicholas becomes president and CEO of Sam’s Club U.S., and Kieran Shanahan, EVP and chief operating officer of Walmart U.S.
Digital Brands Group Swings to Profit on Q2 Revenue Gain
The company reported that net revenues for the second quarter increased 69.6 percent to $4.5 million. Net income attributable to common stockholders was $5.0 million, or 38 cents per diluted share, in the quarter.
Moody’s Withdraws New Era’s Ratings Following Debt Repayment
Moody’s Investors Service withdrew all New Era Cap, LLC debt ratings following the repayment of its outstanding rated debt in conjunction with the closing of a recent refinancing transaction.
Underwear Startup Parade Bought by Ariela & Associates International
Parade, an underwear brand popular with Gen-Zers, has agreed to be acquired by Ariela & Associates International, the intimates manufacturer and licensee of Fruit of the Loom.
Report: Traffic Report Sees Dick’s and Hibbett Well-Positioned for BTS
With Dick’s Sporting Goods releasing second quarter earnings next week and Hibbett Sports usually close behind in timing of its release, a new report from Placer.ai looks to be rather timely.
Next Level Apparel’s Debt Ratings Lowered On Default Risk
S&P Global Ratings lowered the debt ratings of YS Garments LLC, doing business as Next Level Apparel, as the Gardena, CA-based clothing company has disclosed that it has entered into an agreement with its lender group to waive its financial covenant for the second quarter ended June 30, 2023 through Sept. 30, 2024.
Costco Wholesale Corporation Elects New Board Director
Costco Wholesale Corp. elected Helena Buonanno Foulkes to its Board of Directors. Most recently, Foulkes was CEO of Hudson’s Bay Company.
Herschel Supply Opens Flagship in New York City
Herschel Supply has opened its new SoHo flagship store in New York City, continuing its retail expansion plans for 2023 following recent store openings in Santa Monica, CA and NYC’s Flatiron district.
BofA Upgrades Adidas To Buy, Lifts Price Targets for Dick’s and Academy
Bank of America Corp. (BOFA) upgraded Adidas to “Buy” due to its progress in improving margins while lifting its price target on Dick’s Sporting Goods and Academy Sports on improving sales trends.
Outdoor Retailer to Unveil New Format at Summer Market 2024
New features will reportedly roll out with Outdoor Retailer Summer 2024, taking place June 17-19, 2024 at the Salt Palace Convention Center in Salt Lake City, UT. The upcoming OR Winter show in November will be held in its existing format at the Salt Palace.
