In an election that will have significant implications for a wide range of public policy issues facing the retail industry, Republicans rode a tide of voter discontent over job losses and the economy to win control of the House on Tuesday, while Democrats saw their majority narrowed in the Senate.
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PHILADELPHIA, Nov. 4, 2010 /PRNewswire-FirstCall/ -- Destination Maternity Corporation
Gap (NYSE:GPS) gained more than 6% after posting stronger-than-expected third-quarter revenue, driven in part by October sales and international demand. The San Francisco-based retailer reported third-quarter revenue of $3.65 billion, up 2% from $3.59 billion a year ago, beating the Street’s view of $3.56 billion. Comparable store sales for the three-month period ended Oct. 31 were flat. Gap said international demand, up 3% in comparable store sales from a 6% decline last year, led the identical store sales, with Gap North America up 1% from a 7% drop last year
TEL AVIV -- Stage Stores Inc., the Houston retailer, reported that for October, comparable-store sales fell 3.5%. A survey of analysts by Thomson Reuters produced a consensus estimate of same-store sales up 1.5%. Total sales fell 1.1% to $100 million. For the third quarter ended Oct. 30, same-store sales slipped 0.3% while total sales rose 2.1% to $332 million. Copyright © 2010 MarketWatch, Inc.
Abercrombie & Fitch (NYSE:ANF) surged more than 5% after posting strong October sales, led by rapidly climbing demand in its international markets. The New Albany, Ohio-based company posted sales for the four-week period ended Oct. 30 of $226.8 million, up 13% from $200.2 million a year ago. Comparable stores sales for the specialty retailer gained 2%, while direct-to-consumer net merchandise sales grew 11% to $23.6 million. October sales were fed significantly by gains in its international markets, up 86% to $53 million, including direct-to-consumer revenues. Meanwhile, the
According to results of Shop.org's eHoliday Study conducted by BIGresearch, 84.8% of online retailers will offer free shipping at some point during the holiday season, and 31.4% said these offers will begin earlier this year than a year ago. Shoppers may even see more free shipping deals this year, as 36.7% of retailers said their budget for free shipping is higher than last holiday season.
LONDON -- Cato Corp. said Thursday that its October sales at stores open at least one year rose 2%. The rise in same-store sales matched the forecast of analysts polled by Thomson Reuters. Total sales for the period rose 3% to $64 million. Copyright © 2010 MarketWatch, Inc.
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U.S. retailers from discounter Target Corp. to teen apparel chain Zumiez reported October same-store sales above Wall Street expectations, helped by unique merchandise and cheap prices.
HONG KONG -- Adidas Thursday reported a 25% jump in third quarter net income, driven by strong sales for its adidas and Reebok branded products and accelerated growth in emerging markets, including in Greater China. Net income rose to 266 million euros ($376 million), or 1.27 euros per share, from 213 million euros, or 1.03 euro per share. Group revenues increased 10% on a currency-neutral basis. The company said it expects to earn between 2.68 to 2.70 euros per share in 2010 on a sales expansion of 8%. The company said it expects further gradual improvements in 2011 as