Urban Outfitters’ Q4 Profits Decline 23 Percent, Miss Analyst Targets
Urban Outfitters, Inc.’s earnings slumped 23.2 percent in the fourth quarter and came in below analysts’ consensus estimates. Sales came in slightly ahead of targets with strength at its Anthropologie, Free People and Nuuly brands.
Big 5 SG Sees Q4 Same-Store Sales Fall 13 Percent; Margins And Earnings Shrink
Big 5 Sporting Goods Corporation reiterated its fiscal 2022 fourth quarter net sales were $238.3 million, compared to net sales of $273.4 million for the fourth quarter of fiscal 2021. Same-store sales decreased 13.2 percent for the fourth quarter of fiscal 2022 compared to the fourth quarter of fiscal 2021.
Ross Stores Top Q4 Expectations; Sees Flat Comps For 2023
Ross Stores Inc. reported earnings rose 21.9 percent in the fourth quarter ended January 28 as both earnings and sales topped guidance.
Kohl’s Names President And COO
Kohl’s hired Dave Alves as president and chief operating officer. Most recently, the 30-year retail veteran was president and chief retail officer for Bealls Retail Group.
Kith Opens Second Store In Miami
Kith opened its second store in Miami in the city’s design district. Spanning two floors, the ground floor features men’s and womenswear, while the second-floor houses Major Food Group’s New York restaurant, Sadelle.
Target Ekes Out Fiscal Q4 Comp Sales Gain On Strong Traffic; Beats Expectations
Target Corporation reported that total comparable sales grew 0.7 percent in the fiscal fourth quarter ended January 28, reflecting comparable stores sales growth of 1.9 percent and a comparable digital sales decline of 3.6 percent.
Aerosoles Inks Licensing Agreement With United Intimate Group
Aerosoles signed a new licensing agreement with United Intimate Group to distribute women’s sleepwear, robes and intimate apparel. American Exchange Group acquired Aerosoles in 2022.
Retail Giant Pou Sheng Sees Sharp 2022 Profit Decline On Pandemic Woes
Pou Sheng International (Holdings) Limited warned that it expects to record a 20 percent decline in revenues to approximately RMB18.6 billion for the year ended December 31. The resulting profit is attributable to owners of the Chinese mega-retailer and is forecasted to fall approximately 75 percent to approximately RMB89 million for the year compared to the 2021 financial year.
Berkshire Hathaway’s Apparel And Footwear Sales Slide 4.5 Percent In 2022
Berkshire Hathaway Corp.’s sales across its apparel and footwear businesses slid 4.5 percent in 2022 compared to 2021 due to inventory reduction efforts in the mass channel, according to the holding company’s annual report. The businesses include Fruit of the Loom, Russell, Spalding, Garan, H.H. Brown Shoe Group, and Brooks Sports.
Zalando To Eliminate “Hundreds” Of Jobs
German online fashion retailer Zalando said in an e-mail to employees that it plans to cut hundreds of jobs to help it confront a “more challenging” economic environment after years of rapid growth.
Report: Foot Locker In Discussions On India Entry
Indian multi-brand footwear company, Metro Brands, is talking with Foot Locker to bring the U.S. brand into India.
Authentic Brands Closes In On Acquisition Of Quiksilver, Billabong Parent
Authentic Brands Group has proposed a new term loan that it plans to use to support a potential acquisition of Boardriders, Inc., according to a report from Moody’s.
Swing Racquet + Paddle Inks Wilson Deal For “Sportstainment” Venue
Swing Racquet + Paddle has inked a deal with Wilson Sporting Goods Co. as a leading sponsor a “first-of-its-kind dedicated multi-racquet & paddle sport and Sportstainment venue.”
Dillard’s, Inc. Declares Cash Dividend
The Dillard’s, Inc,’s board of directors declared a cash dividend of 20 cents per share on the Class A and Class B Common Stock of the company.
VF Prices €1 Billion Of Senior Notes To Fund Sustainable Development Goals
On the heels of a Moody’s Investors Service downgrade in the debt ratings of VF Corporation, the active lifestyle company has priced €500 million aggregate principal amount of unsecured senior notes due 2026
