Macy’s, Inc. Delays Q3 Results After Employee Hid More Than $132M of Delivery Expenses
A single employee with responsibility for small package delivery expense accounting intentionally made erroneous accounting accrual entries to hide approximately $132 million to $154 million of cumulative delivery expenses from Q4 2021 through Q3 2024.
Perfect Moment Taps CD Network for Luxury Wholesale Representation in North America
The agency will spearhead efforts in the U.S. and Canada, marking Perfect Moment’s first sales agency engagement for these major markets. A new showrooms in New York City planned for December
USPS to Raise Rates in 2025 to Remain Competitive
The changes would raise shipping service prices by approximately 3.2 percent for Priority Mail and Priority Mail Express, 3.9 percent for USPS Ground Advantage, and 9.2 percent for Parcel Select.
Levi Strauss Continues Retail Expansion in Canada Ahead of Holiday Season
Store locations in Kelowna and Toronto will help expand Levi’s brand presence in British Columbia and Ontario, while a third store in Midtown Saskatoon, Saskatchewan, will be the first owned-and-operated location in the province
Puma Opens Las Vegas Flagship
Located in the heart of the Las Vegas strip, the store offers a “retail experience” with various immersive and interactive features, including a professional F1 racing simulator, an interactive arcade and a customization studio where customers can personalize apparel and footwear.
Ross Stores Sees Q3 Sales Growth Slow from Stronger First Half Trend
The CEO said the retailer needed to execute better but also cited a combination of severe weather during the quarter from Hurricanes Helene and Milton, along with unseasonably warm temperatures, that also negatively impacted results.
OluKai Opens First East Coast Location at Disney Springs, FL
The Disney Springs store will carry a curated assortment of OluKai active and island-inspired footwear.
The Buckle Posts Q3 Profit Decline on 3.2 Percent Sales Decline; E-Commerce Inches Up
Net income for the third quarter of fiscal 2024 was $44.2 million, or 88 cents per diluted share, compared with net income of $51.8 million, or $1.04 per diluted share in the prior-year third quarter.
Hydro Flask and Osprey Packs Parent Helen of Troy Expands Beauty Portfolio
Helen of Troy Limited, parent of the Hydro Flask, Osprey Packs and OXO businesses, has entered into a definitive merger agreement to acquire the business of Olive & June, LLC.
EXEC: Athleta Sees Benefit of Parent Investments as Positive Comps Return
Athleta’s third quarter net sales of $290 million were up 4 percent compared to Q3 last year. Comparable sales were up 5 percent year-over-year.
Topgolf Breaks Ground on Second Venue in Minnesota
This is the second venue in Minnesota for parent company Topgolf Callaway Brands Corp. in addition to an existing venue in Minneapolis’ Brooklyn Center.
Gildan Activewear Launches Private Offering of Senior Unsecured Notes
The company intends to use the net proceeds of the offering for the repayment of indebtedness outstanding under its credit facilities and other general corporate purposes.
EXEC: JD Sports Expects Full Year Profit at Lower End of Forecast on Weaker Comps
After a good start to the period, helped by strong back-to-school sales, the parent of the JD, Hibbett, Finish Line, DTLR, and Shoe Palace retail banners said it saw increased trading volatility in October, particularly in North America and the UK, reflecting elevated promotional activity and mild weather.
EXEC: Target Corporation Shares Hit New Low After Q3 Miss, Disappointing Guidance
For the fourth quarter, the company now expects approximately flat comparable sales and GAAP and Adjusted EPS of $1.85 to $2.45, translating to a full year expected GAAP and Adjusted EPS range of $8.30 to $8.90 per share.
TJX Adds Eight Sierra Locations in Q3; Has Big Merchandise Plans for Sierra E-Commerce
The company said it is well-positioned to take advantage of the outstanding availability in the marketplace and deliver an eclectic mix of exciting gifts to its stores and online throughout this holiday season. The CFO said they have some great merchandise plans for the U.S. e-commerce sites in the Sierra business.
