April 23 (Reuters) – After years of losing customers to
Europe-based retailers that give young shoppers fresh fashions
more quickly, U.S. clothes retailers are fighting back.
To pick up speed, companies like Gap Inc (GPS.N: Quote, Profile, Research), American
Eagle Outfitters (AEO.N: Quote, Profile, Research) and Macy’s Inc (M.N: Quote, Profile, Research) are placing
smaller orders in more factories, and waiting until the last
minute to say what colors and cuts the fabric should take. They
are also slashing the time clothes spend in warehouses, industry
(Reuters) – Wal-Mart Stores Inc, the world’s largest retailer, squelched an internal investigation into allegations of bribery at its Mexican subsidiary instead of broadening the probe, the New York Times reported on Saturday.
The Times said that in September 2005, a senior Wal-Mart lawyer received an e-mail from Sergio Cicero Zapata, a former executive at the company’s largest foreign unit, Wal-Mart de Mexico, describing how the subsidiary had paid bribes to obtain permits to build stores in the country.
April 5 (Reuters) – Summery weather and an early Easter
spurred consumers to shop for bright-colored clothes and other
seasonal items in March, prompting some retailers to raise their
profit expectations for the quarter.
Retailers like Victoria’s Secret parent Limited Brands Inc
, Target Corp, Macy’s Inc and Gap Inc
beat analysts’ estimates for sales at stores open at
least a year as they lured shoppers with blue, yellow and pink
clothes and other spring merchandise.
March 29 (Reuters) – American men increased their spending
on clothing more than women did in 2011, buying more dress
clothes in particular as the economy improves, a study showed.
Overall sales of clothes in the United States rose 4 percent
to $199 billion in 2011, market researcher the NPD Group said on
March 22 (Reuters) – Teen retailer Hot Topic Inc
said it has sold out some of its merchandise for “The Hunger
Games” even before the highly anticipated, post-apocalyptic film
opens in theaters on Friday.
The movie, based on the book by author Suzanne Collins, is
about children forced into a fight to the death and is touted to
be one of the year’s biggest hits.
(Reuters) – Souvenirs of “The Hunger Games” are selling like hot cakes ahead of the potential blockbuster movie’s release on Friday, but the sales boost is unlikely to last for Hot Topic Inc, the company that is selling most of the merchandise.
Retail industry experts are not betting on the post-apocalyptic movie to bring any sustainable growth in sales for the California-based retailer, despite signs of some initial success.
CHICAGO (Reuters) – Mammoth enterprises are not the way for Corporate America to grow anymore and smaller deals are what companies are betting on, an M&A executive said.
“We’re in an incredibly robust market for financing and we’re seeing … deals getting done every week,” Greg Pearlman, head of BMO Capital Markets’ food and consumer group, said at the Reuters Global Food and Agriculture Summit in Chicago on Monday.
(Reuters) – Ann Inc (ANN.N: Quote, Profile, Research, Stock Buzz) forecast improved margins, and outlined plans to improve the performance and brand image of its struggling Ann Taylor stores, sending shares up as much as 8.7 percent.
Ann Taylor is the company’s higher-end brand, catering to professional women in their 30s and beyond. Ann sells more affordable clothes for younger women at LOFT, which has been its growth area.
By Nivedita Bhattacharjee
(Reuters) – Genevieve Spinella sold her Lincoln Navigator in August and bought a more fuel efficient Kia Soul as gasoline prices began weighing on her mind.
She is also staying closer to home when she goes out and runs errands with her family to save on gas.
(Reuters) – Gap Inc’s (GPS.N: Quote, Profile, Research, Stock Buzz) profit forecast for the year ahead failed to excite investors, but the company did lay down concrete plans for a revamp as it tries to work on its merchandise and move away from the heavy discounts seen in the holiday quarter.
For almost a decade now, Gap has struggled with its fashion mix, losing out to rivals such Inditex, which overtook Gap as the world’s biggest clothing retailer by sales in 2010.