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28 Nov

Despite Successful Black Friday Weekend, Retailers Remain Cautious on Holiday

by Beautifaire101
Beauty, Featured
Despite Successful Black Friday Weekend, Retailers Remain Cautious on Holiday
It’s one other season of mood swings for retailers. Black Friday weekend saw heady online gains and an OK turnout at stores, putting retail executives on a brief high. Yet while consumers responded to the barrage of price promoting over the past week — with dry and cooler weather encouraging them to get out and buy gifts and winter styles — after Cyber Monday retailers anticipate a serious lull in business until about 10 days before Christmas. Industrywide, caution over the general holiday outlook stays and no person is able to revise the conservative forecasts for fourth-quarter low-single-digit revenue increases or declines, despite last weekend’s end result.  As Jeff Gennette, the outgoing chairman and chief executive officer of Macy’s Inc., told WWD on...
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23 Nov

Neiman Marcus Group Cites Slowdown, Cautious Luxury Consumers

by Beautifaire101
Beauty, Featured
Neiman Marcus Group Cites Slowdown, Cautious Luxury Consumers
Neiman Marcus Group, confronting a volatile macro economy and increasingly cautious consumers, saw a dip in each revenues and profitability in its first fiscal quarter which ended Oct.28. Adjusted earnings before interest, taxes, depreciation and amortization, eased to $95 million in the most recent three-month period, versus $112 million within the prior-year period, the corporate disclosed to WWD on Wednesday. The luxurious retailer, operator of Neiman Marcus and Bergdorf Goodman stores and e-commerce web sites, also reported $948 million in sales for its last fiscal quarter, in comparison with $1.034 billion within the prior 12 months. Same-store sales fell 8 percent last quarter. The corporate ended the quarter with $35 million of money, versus $194 million within the prior-year period. “The decline in...
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22 Aug

Macy’s Inc. Posts Q2 Declines, Stays Cautious on Consumers

by Beautifaire101
Beauty, Featured
Macy’s Inc. Posts Q2 Declines, Stays Cautious on Consumers
Macy’s Inc., impacted by higher levels of markdowns to clear spring merchandise and customers pulling back on spending, reported second-quarter top- and bottom-line declines but said the outcomes were higher than expected. The web loss got here to $22 million for the quarter ended July 29, in comparison with a $275 million profit within the year-ago period. The loss included a non-cash settlement charge related to the transfer of pension obligations for certain retirees and beneficiaries. Diluted loss per share of $0.08 and adjusted diluted earnings per share of $0.26 last quarter in comparison with diluted EPS of $0.99 and adjusted EPS of $1 within the second quarter of 2022. Earnings before interest, taxes, depreciation and amortization were $221 million in the...
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2 Jun

Brands Cautious Ahead of Denmark’s 3daysofdesign

by Beauty Tips
Fashion, Featured
Brands Cautious Ahead of Denmark’s 3daysofdesign
MILAN — As Denmark’s capital prepares for its three-day annual design festival, Danish industry leaders are cautious concerning the remainder of 2023, given the nearby war following Russia’s invasion of Ukraine and the rising cost of living. “The war in Europe has made a problematic impact on the design sector and could possibly be a difficult 12 months for a lot of firms,” said 3daysofdesign managing director Signe Byrdal Terenziani, adding that many design firms increased their profit in 2022 versus 2021 and that rally may slow within the near term. The tenth edition of the design showcase will run from June 7 to 9 with events from about 300 local and international brands. The three-day event will unfold under the “Where...
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