A Macy’s Buyout? The Price Could Be the Next Fight.
An investor group seeking to buy the retailer might be willing to raise its bid after seeing the company’s financials, according…
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International business and accessories growth fuel Lululemon sales
Accessories and new market entries are keeping Lululemon customers coming back. On Thursday, the company reported its 2023 second quarter earnings, in which revenue jumped by 18% year-over-year to $2.2 billion, while same-store sales increased 11%. Lululemon’s quarterly profit hit $341.6 million, compared to $289.5 million the same period last year.
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Lululemon outlook lift thrills Wall St as yogawear stays in vogue
Lululemon Athletica Inc (LULU.O) raised its annual sales and profit forecasts on Thursday as wealthy Americans snap up its pricey activewear even though inflation hounds wider retail spending, sending the company’s shares up 13% after hours. A strong rebound in China, easing air freight costs and tighter inventory control also helped first-quarter results surpass estimates…
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Macy’s gives upbeat profit forecast amid retail gloom, shares surge
Macy’s Inc (M.N) beat estimates for holiday quarter results and forecast annual profit largely above expectations as the department store operator looks to rein in promotions to beef up its margins, sending its shares up 10% on Thursday. Like many retailers, Macy’s offered steep discounts during the holiday season to get rid of excess inventory…
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Abercrombie sees better holiday-quarter sales, posts surprise profit
Abercrombie & Fitch Co (ANF.N) said on Tuesday it was “cautiously optimistic” about the holiday season and forecast a smaller-than-expected drop in current-quarter sales after resilient demand led to a surprise quarterly profit. The Ohio-based apparel retailer’s shares that have lost nearly half of their value this year were up about 19% after the company…
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Boot Barn says its store expansion strategy is paying off
Boot Barn says it propelled sales forward thanks to store expansion — even as digital channels face headwinds. On Wednesday, the western and work-wear apparel retailer announced it opened 10 stores during the second quarter of its 2023 fiscal year — including expansion into New Jersey and Delaware — bringing its total number of locations to 321. The…
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American Eagle Outfitters stock plummets on profit miss, paused dividend
American Eagle Outfitters (NYSE:AEO) stock slid by double-digits in Wednesday’s extended session after the company posted a disappointing second quarter earnings result. The Pennsylvania-based retailer posted significantly lighter than expected EPS alongside in-line revenue. Gross profit declined 26% from a particularly strong 2021 and reflected an over 11% margin contraction. “This is an unprecedented time…
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Is Dillard’s setting the pace for mid-tier department stores?
As Macy’s, Kohl’s and J.C. Penney grapple with what success means for a mid-tier department store in the 21st century — fending off activist investors, taking on new owners or announcing new strategies — Southern department store chain Dillard’s quietly plugs along. The company grabbed 0.4% of market share in the second quarter compared to…
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Retailers lower outlooks with discretionary spending under pressure
Discretionary apparel retailers proffered less-than-sunny earnings vistas this week, with Macy’s, Nordstrom, T.J. Maxx parent TJX, Victoria’s Secret and Abercrombie & Fitch all lowering their outlooks. Gap completely withdrew its second-half forecast on falling sales, while Urban Outfitters missed estimates.Why it matters: After a resurgence in 2021 — when the apparel industry saw one of…
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The inflationary 2020s mean fast food just isn’t cheap anymore
The all-American genre of fast food has historically been an inflation killer. Industrialization in the restaurant industry has lowered prices for consumers year after year ever since the first White Castle opened in 1921, signaling the beginning of the industry, and definitely since McDonald’s debuted in the early 1940s.
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