Urban Outfitters said late Monday that its second-quarter net income rose 46% on increased sales across its brands. Net income rose to $71.7 million in the quarter ended July 31, compared with net income of $49 million in the year-ago period.Revenue rose 20% to $552.2 million, surpassing analysts’ expectations of $542 million in revenue.Sales at Anthropologie, Free People and Urban Outfitters increased to $425.7 million from $361.8 million.
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EBay has named Miriam Lahage as the new general manager for its fashion marketplace. Lahage is a retail veteran whose career includes more than 20 years with TJX Cos. In 2007, she launched online discount designer boutique Koodos.com and, more recently, she served as a consultant to members-only discount fashion site Net-A-Porter.
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Staples said Tuesday it has made executive appointments in its international business that will help drive the company’s growth globally.John Barton has been appointed executive VP international development and Anders Kristiansen has been appointed president of Staples China.Staples also announced the appointment of Noah Herschman as chief of merchandising for Staples China.As executive VP of international development, a new position at Staples, Barton has direct responsibility for Staples’ high-growth markets in China, India and South America. In addition, he has oversight for developing the company’s operational best practices worldwide across its retail, contract and catalog channels.As president of Staples
Gilt Groupe began life as an exclusive high-fashion sales site that offered deals on designer duds by invitation only. - More - Venda's Merchants Beat Industry Growth in 2010 Retailers using Venda's onDemand eCommerce platform saw average Year-Over-Year revenue increases of 108% in Jan. 2010. The growth is partly attributable to the broad range of revenue-enhancing features available as part of Venda's SaaS solution. Learn more about Venda's 10 Tactics for Online Store Profitability in this white paper .
Abercrombie & Fitch Co. reported Tuesday that it swung to a profit in the second quarter as lowered prices bolstered sales. The teen retailer recorded net income of $19.5 million, compared with a loss of $26.7 million in the year-ago quarter. Abercrombie also said Tuesday it will close 60 stores in the United States in 2010 as it expands internationally.Revenue rose 17% to $745.8 million, surpassing Wall Street expectations of $727.7 million.Same-store sales rose 5%.In the United States, the retailer said it plans to open three Abercrombie & Fitch stores; three Abercrombie Kids stores; three Hollister stores; two Gilly
Canton, Mass.-based Casual Male Retail Group Inc. (CMRG) has officially opened its new Destination XL (DXL) concept store, a new men's superstore concept catering to the bigger and taller man, in Las Vegas. DXL is an all-inclusive concept that offers a wide range of clothing, shoes and products under one roof from CMRG's four existing apparel businesses. Currently with three other locations in Schaumburg, Ill., Houston and Memphis, Tenn., DXL offers a collection of good, better and best products merchandised by lifestyle, with a focus on servicing the "end-of-the-rack" department store shopper. The DXL store is also designed to
Home Depot reported Tuesday that net income for the second quarter rose 7% to $1.19 billion, from $1.12 billion last year. Revenue rose 2% to $19.41 billion. Analysts predicted $19.59 billion.Same-store sales rose 1.7% worldwide and 1% in the United States, a third consecutive quarter of gains worldwide and a second consecutive quarter in the United States.The largest home-improvement retailer also trimmed its revenue outlook to a 2.6% increase, from a 3.5% rise. That implies revenue of $67.9 billion. Analysts expect revenue of $68.21 billion.
A report by Business First of Columbus on Monday said that Victoria’s Secret has officially launched its Canadian debut, opening on Thursday the first of four stores planned for the provinces in 2010.Victoria’s Secret opened an 18,000-sq.-ft. store in West Edmonton on Thursday. A 13,500-sq.-ft. store is set to open Aug. 26 in Toronto, and stores are scheduled to open in September in Mississauga and in Toronto in October.The openings come two years after Limited Brands began its international expansion, first taking its Bath & Body Works chain into Canada. Victoria’s Secret’s Pink nameplate has since moved into Canada,