Department Store Roundup: Nordstrom Shares Soar After Standout Q2
Nordstrom Inc. shares skyrocketed on Friday—the day after a stellar quarterly earnings report—increasing $6.94, or 13.3 percent, at market close to secure the company’s spot as the standout department store performer in the second quarter.
Aisle Talk Week of August 13
Top headlines from the active lifestyle industry you may have missed this week, including VF Corp.’s market-moving news that the company is spinning off its jeans division and relocating to Colorado along with The North Face, Smartwool and other brands.
The North Face Names Jean-Marc Djian VP Of Global Footwear
The North Face on Thursday announced the appointment of Jean-Marc Djian as vice president of Global Footwear, effective immediately. Jean-Marc will report directly to Arne Arens, global brand president.
Reebok Appoints Kelly Hibler To Lead Classics Business
Reebok on Thursday announced the appointment of Kelly Hibler as general manager, Reebok Classics business unit. He will report to Reebok President Matt O’Toole.
Blain’s Farm & Fleet Announces Fourth Michigan Location
Family-owned and operated Blain’s Farm & Fleet has announced plans for the company’s fourth Michigan location in Ottawa County’s Holland Township. It is slated to open in the fall of 2019.
Dillard’s Beats Q2 Earnings, Revenue Targets
Dillard’s Inc. reported a net loss for the 13 weeks ended August 4 of $2.9 million, or 10 cents per share, compared to a net loss of $17.1 million, or 58 cents per share, for the prior year second quarter, beating Wall Street estimates by 35 cents.
J.C. Penney Q2 Revenue Sinks On Store Closures
J.C. Penney Co. Inc. on Thursday morning reported total net sales decreased 7.5 percent to $2.76 billion in the second quarter ended Aug. 4 primarily due to the 141 stores that closed in fiscal 2017.
July Retail Sales Increase 4.9 Percent Over 2017
July retail sales were up 0.4 percent seasonally adjusted from June and increased 4.9 percent unadjusted year-over-year, giving the industry a solid kickoff for the third quarter as consumers continued to spend despite concerns about the growing trade war, the National Retail Federation said Wednesday.
Macy’s Raises Guidance After Q2 Earnings & Revenue Beat
Macy’s Inc. raised the company’s guidance for fiscal 2018 after topping Wall Street’s earnings and revenue expectations in the second quarter. The company reported revenue of $5.57 billion, a decrease of 1.1 percent from Q2 2017 but ahead of analysts’ estimates by $20 million.
REI To Open First Store In Memphis, TN
Outdoor co-op REI will open the company’s first store in Memphis, TN, on August 24. The new 23,000-square-foot store will offer a wide assortment of quality outdoor gear, experiences and expertise, as well as a full-service bike shop.
Perry Ellis International Enters Into Licensing Agreement With Fashion Footwear
Perry Ellis International Inc. has announced that the company has entered into a new license agreement with Fashion Footwear LLC, granting rights to design and distribute Havanera flip flops and casual footwear for men, women, boys and girls in the U.S. and Canada.
Yue Yuen Revenue Up 7.2 Percent In First Half Of 2018
Hong Kong footwear manufacturer Yue Yuen Industrial (Holdings) Ltd. reported revenue for the six months ended June 30 grew 7.2 percent to $4.8 billion. Profit declined 41.9 percent to $150.1 million from $258.5 million the same period last year, and basic earnings per share declined 41.8 percent to $9.14 from $15.71.
Anta Sports Revenue Up 44 Percent In First Half Of 2018
Anta Sports Products Ltd. reported that revenue increased 44.1 percent to RMB1.94 billion for the six months ended June 30, 2018. Profit attributable to equity shareholders increased 34 percent to RMB1.94 billion, while basic earnings per share increased 29.4 percent increase to RMB72.44 cents.
VF Corp. Shares Slip After Spinoff, Relocation Announcement
VF Corp. shares fell 3.6 percent Monday after the company announced spinoff and relocation plans. While investors asked “Why now?” about the move, analyst reaction was mostly positive as VF can now target more growth—both organically and acquisitively—in the outdoor and active lifestyle space.
Colorado ‘Thrilled’ To Welcome VF Corp.’s New Global Headquarters
As part of VF Corp.’s decision to separate into two publicly traded companies, the corporation will move VF’s headquarters to the Denver metro area, a move lauded by Colorado’s Office of Economic Development and International Trade.
