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1 Jun

Macy’s Reports Tough First Quarter, Brings Guidance Down

by Beautifaire101
Beauty, Featured
Macy’s Reports Tough First Quarter, Brings Guidance Down
Macy’s Inc., seeing waning consumer demand, reported first-quarter top- and bottom-line declines and has revised its guidance for the yr downward. Net income for the quarter ended April 29 was $155 million, or $0.56 per diluted share, in comparison with $286 million, or $0.98 per share, within the year-ago period. Earnings before interest, taxes, depreciation and amortization got here to $466 million versus $684 million within the year-ago quarter. Net sales of $5 billion were down 7 percent in comparison with $5.35 billion in the primary quarter of 2022. Comparable sales were down 7.2 percent. Brick-and-mortar sales decreased 6 percent versus the primary quarter of 2022, and digital sales decreased 8 percent versus the primary quarter of 2022.  In pre-market trading Thursday, Macy’s stock was...
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10 May

Olaplex Has Tough Quarter, but CEO Says It’s the

by Beautifaire101
Beauty, Featured
Olaplex Has Tough Quarter, but CEO Says It’s the
Olaplex Holdings saw sales fall across the board in its first quarter, but beat Wall Street forecasts. Nevertheless, its stock closed down greater than 7 percent at $3.70. The hair care brand specializing in bond constructing’s net sales got here in at $113.8 million in the primary quarter ended March 31, down 38.9 percent year-over-year. Analysts polled had forecast $110 million. Inside that, the skilled channel drew in $48.4 million, down 37.2 percent; specialty retail was $34.9 million, down 45.8 percent, and direct-to-consumer was $30.5 million, down 31.9 percent. Net sales decreased 60.3 percent within the U.S., while international sales were flat. Adjusted diluted EPS was 5 cents, as in comparison with 13 cents for the primary quarter of 2022. This got here in...
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2 Mar

After a Tough Q4 and 12 months Ahead, Macy’s

by Beautifaire101
Beauty, Featured
After a Tough Q4 and 12 months Ahead, Macy’s
After a Tough Q4 and 12 months Ahead Macy’s Inc. has a long-term view to reverse declines of 2022 and 2023 into gains in 2024. “Our five vectors for growth will reach a rate of maturation that may start to offer us growth, help us take market share and surmount macroeconomic aspects,” chairman and chief executive officer Jeff Gennette told WWD, referring to Macy’s private brands “reimagination,” off-mall and online marketplace expansion, a luxury acceleration and personalization initiatives in offerings and communications with customers. Interviewed Thursday, just after Macy’s Inc. reported top- and bottom-line declines for the fourth-quarter and projected declines for 2023, Gennette told WWD: “The luxurious consumer is healthy. Luxury is a growing pie and we are able to get a...
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30 Dec

Victoria’s Secret CEO Says It Will Be ‘A Tough

by Beauty Tips
Fashion, Featured
Victoria’s Secret CEO Says It Will Be ‘A Tough
Victoria’s Secret is gearing up within the race to draw consumers this holiday shopping season.  “We’re in for a tricky December throughout across retail and we have to be prepared to sharpen our elbows and fight as hard as we are able to,” Martin Waters, chief executive officer of Victoria’s Secret & Co., told analysts during Thursday morning’s conference call.  Looks from Victoria’s Secret’s holiday campaign. Courtesy Photo The lingerie and beauty retailer’s game plan includes increased promotions, an expanded assortment, more Stores of the Future and the recent addition of Adore Me to the corporate’s portfolio, all with an emphasis that shoppers can have less money to spend this 12 months.  “We remain mindful of the continued economic headwinds and pressure on our...
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