Declines – Beautifaire

24 Nov

Kohl’s Posts Q3 Declines, but Cites Progress on Strategic Initiatives

Updated Nov. 21 at 11:37 a.m. EST Kohl’s Corp. last quarter continued to yield sales and profit declines, but raised its bottom-line outlook for the yr and cited progress on turnaround strategies. On Tuesday, the Menomonee Falls, Wisc.-based retailer reported that its net income for the quarter ended Oct. 28 fell to $59 million, or 53 cents per diluted share, beating expectations of 35 cents. Within the year-ago period, net income reached $97 million, or 82 cents per diluted share. Operating income was $157 million in comparison with $200 million within the prior yr. As a percentage of total revenue, operating income was 3.9 percent, a decrease of 82 basis points year-over-year. Net sales decreased 5.2 percent year-over-year, to $3.8 billion, with comparable sales down 5.5...

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23 Aug

Kohl’s Sees Steep Q2 Declines But Reassures Wall Street

by Beautifaire101

Beauty, Featured

Kohl’s Sees Steep Q2 Declines But Reassures Wall Street

Kohl’s Corp., faced with softening consumer demand, saw steep declines in each the highest and bottom-lines in the course of the second quarter, but the outcomes fell in step with the retailer’s expectations. Net income for the period ended July 29 was $58 million, or $0.52 per diluted share. This compares to net income of $143 million, or $1.11 per diluted share within the prior 12 months. Operating income was $163 million in comparison with $266 million within the prior 12 months. As a percentage of total revenue, operating income was 4.2 percent, a decrease of 233 basis points year-over-year. Net sales decreased 4.8 percent to $3.7 billion, from $3.86 billion within the year-ago period. Comparable sales were down 5 percent. “I might think that 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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7 Apr

Levi Strauss Shares Hit by Gross Margin Declines, Wholesale Weakness

by Beauty Tips

Fashion, Featured

Levi Strauss Shares Hit by Gross Margin Declines, Wholesale Weakness

As Wall Street anxious over signs of somewhat fading at Levi Strauss & Co., chief executive officer Chip Bergh told WWD that the denim leader continues to be very much in its groove. Shares of Levi’s fell 16 percent to $15.14 after the corporate turned in first-quarter earnings that topped expectations, but were accompanied by gross margin declines, still-heavy inventories and weakness at wholesale. “The market’s going to do what the market’s going to do,” Bergh said. “We’re going to at all times run this business for the long term.” Like many of the fashion industry, Levi’s loaded up on inventory early last 12 months when the patron was stronger and the provision chain was slower. Bergh said the concept was: “Stonewashed 501s don’t...

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