The Wet Seal said Thursday that its second-quarter net income fell by nearly half as consumer spending remained volatile. The teen retailer reported net income of $1.6 million for the quarter ended July 31, compared with net income of $3.1 million in the year-ago period. Revenue dropped to $131.5 million from $136.4 million. Wall Street expected revenue of $133.6 million.
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LONDON -- Office-products retailer Staples Inc. on Thursday said second-quarter net income rose to $129.8 million, or 18 cents a share, from $92.4 million, or 13 cents a share, in the same period a year ago. Adjusted earnings, which exclude a $22 million pre-tax integration and restructuring expense, were 20 cents a share, Staples said. A survey of analysts by FactSet Research produced a consensus forecast of 20 cents. Sales were flat at $5.5 billion. The company said it no longer expects Congress to extend provisions that allow companies to defer income tax on certain foreign earnings. Staples said
The Buckle reported Thursday that net income for the quarter ended July 31 declined 17% on higher costs and weaker sales. The teen retailer earned $20.7 million, compared with about $25 million in the same quarter a year ago.Revenue fell 2% to $188.6 million, from $192.9 million a year earlier. Analysts expected revenue of $192.4 million.Same-store sales fell 7.3% in the quarter.Teen merchants were among the hardest hit in the second-quarter as consumers began to pull back on spending.
The Bon-Ton Stores, parent company of Boston Store and other department store chains, reported Thursday that it narrowed its second-quarter loss by 3% to $33.7 million, compared with a loss of $34.8 million the year before.Sales for the quarter dipped to $608.6 million, from $609.2 million a year ago.Same-store sales edged up 0.2%.Bon-Ton Stores operates 278 stores, including 11 furniture galleries, in 23 states. It runs stores under the Bon-Ton, Bergner’s, Boston Store, Carson Pirie Scott, Elder-Beerman, Herberger’s and Younkers nameplates and, in the Detroit area, under the Parisian nameplate.
NEW YORK (Reuters) - Sears Holdings Corp reported a quarterly loss on Thursday as consumers curbed spending in a grim U.S. economy. The operator of Sears department stores and Kmart discount stores said its net loss narrowed to $39 million, or 35 cents a share, in the second quarter ended July 31 from $94 million, or 79 cents a share, a year earlier. Sales fell $93 million to $10.5 billion. That missed the analysts' average estimate of $10.6 billion, according to Thomson Reuters I/B/E/S. Earlier this week, the retailer's Canadian
) New York & Co. said Thursday it posted a loss of $88.5 million in the period ended July 31, compared with a loss of $4.8 million in the year-ago period. Excluding one-time charges related to exiting its five accessories concept stores as well as other items, the company's net loss was $29.3 million. Revenue fell to $243.3 million, down from $247.8 million last year. Analysts expected revenue of $244.7 million. Same-store sales declined 1.8% in the quarter. In a statement, New York & Co. said that the second-quarter results were negatively affected by higher levels of markdowns to
Greenville-based Delta Apparel, Inc. continued its strong earnings growth, reporting today record sales and an 88.8% increase in net income for its fiscal year ended July 3. For the fourth quarter, net sales increased 20.5% to $126.2 million, and net income was $5.7 million, up from 42% from $4 million in the prior-year quarter. Gross margins improved 70 basis points to 23.9%. For the year, net sales increased 19.5% to a record $424.4 million, from $355.2 million in the prior year. Net income increased 88.8% to $12.2 million versus $6.5 million in fiscal year 2009. “We are encouraged to
Hot Topic Inc.'s (HOTT) fiscal second-quarter loss widened on sales weakness as the teen retailer's outlook for the current quarter fell short of analysts' forecast.
SAN FRANCISCO -- Aeropostale Inc. late Thursday reported second-quarter net income of $43.6 million, or 46 cents a share, up from $38.6 million, or 38 cents a share, in the year-ago period. Revenue rose 9% to $494.7 million from $453 million last year. Analysts surveyed by Thomson Reuters had forecast the clothing retailer to earn 46 cents a share on sales of $503 million. Copyright © 2010 MarketWatch, Inc.
NEW YORK/DETROIT (Reuters) - Upscale home-goods chain Williams-Sonoma Inc posted a far stronger-than-expected quarterly profit as it used mailers and exclusive merchandise to lure more shoppers. The operator of Williams-Sonoma cookware stores and the Pottery Barn furnishings chain said net profit was $30.8 million, or 28 cents a share, in the second quarter ended on Aug. 1, compared with $399,000, or break-even per share, a year earlier. Excluding items, the company earned 31 cents a share. Analysts on average were expecting 22 cents, according to Thomson Reuters I/B/E/S. Net sales