By the way, recently Macy AND leg locker signaled that US consumers could spend less on discretionary goods in a volatile economy. Gap expects third-quarter net sales to fall by a double-digit percentage, while analysts had expected a decline of 6.76%. In fiscal 2023, revenues are expected to fall by about 5% from $15.6 billion a year earlier. The rate is the strategy of the new CEO Richard Dixonformerly chief operating officer Mattelthat contributed to the transformation of the brand Barbie.
Second quarter with a minus also for nordstromwhose income has declined by 8% to $3.77 billion. Moreover, on average, analysts expected a lower value of 3.65 billion in data collected Finishing. Earnings were 84 cents per share compared to 44 cents estimated by analysts. The high-end department store brand has expressed some concerns about demand in the second half of the year and warned of increasing credit losses due to non-payments from more consumers.
“We still see a cautious consumer,” he repeated. Katherine SmithNordstrom’s chief financial officer, adding that sales slowed in the third quarter at both namesake stores and low-end stores. Nordstrom Rack. Default rates are above pre-pandemic levels, Smith said, which could lead to higher credit losses in the second half of the year and into 2024. Eric Nordstrom, also said theft continues to weigh on earnings, though not more than the company had already forecast for this year. On a positive note, inventories fell 17.5% in the quarter, for the third straight time.
Net sales in the second quarter Abercrombie and Fitch instead, they rose 16% to $935 million from analysts’ estimates of $842.4 million. Therefore, last Wednesday the company raised its forecasts for 2023: growth is expected to be 10% compared to the previous target of +2% to + 4%. In three months, the Abercrombie brand recorded a 26% increase, while Hollister recorded an 8% increase after repeatedly declining for five consecutive quarters. Earnings per share for the quarter ended July 29 was $1.10, Refinitiv said, 17 cents above analysts’ expectations.
Good news for the brand too. Assume? What, with the support of overseas business, the company saw growth in revenue and profits and raised its annual targets. In the second quarter, turnover reached $664.51 million from $642.69 a year earlier, while net income increased from $23.96 million to $39.03 million. However, in the Americas, retail sales declined (-8%), with comparables including e-commerce (-6%) and wholesale also lagging (-13%). For the entire fiscal year, the group’s earnings should grow in the range of 2.5-4.0%, better than the previous growth estimate of 2.0-4.0%.
On the same day that the change of hands was announced, tapestry11th August, Capri Holdings announced the trend of the first fiscal quarter: turnover decreased by 9.6% to 1.23 billion, and net income for the period decreased from 201 to 48 million dollars. Versace contained the fall in sales from -5.8% to $259 million, while Michael Kors he charged -13.8% to 787 million. Jimmy Chooon the contrary, it amounted to 183 million, +6.4% compared to a year earlier.
same day Ralph Lauren reported quarterly earnings per share of $2.34, above analysts’ expectations of $0.19, after quarterly revenue topped $1.50 billion, slightly above consensus of $1.48 billion. The figure shows a slight increase (+0.4%) in turnover compared to the previous year. Sales in North America fell 10% to 632 million. President and CEO Patrice Louvet continues to estimate annual growth in the range of 5% at constant exchange rates.
In the photo above Georgina Rodriguez — the new face of the Guess FW 23 campaign AND They march
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