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Jun 2, 2011

Jones Group buys shoe retailer Kurt Geiger

BANGALORE (Reuters) – Jones Group Inc (JNY.N: Quote, Profile, Research, Stock Buzz) said it had acquired upscale British shoe retailer Kurt Geiger from private equity firm Graphite Capital to increase its foothold in the international luxury market.

The deal is valued at about $350 million including assumption of about $100 million in debt, Jones Group said.

May 20, 2011

Discounts weigh on Ann Taylor parent’s margins; shares fall

BANGALORE (Reuters) – Ann Inc (ANN.N: Quote, Profile, Research, Stock Buzz), the parent of Ann Taylor and LOFT stores, saw first-quarter margins slip as it discounted more to get sales in an unseasonably cold spring and a highly competitive space, raising concerns about the company’s turnaround this year.

Shares of the women’s clothing retailer fell 6 percent to a near two-month low of $28.47 in Friday morning trade on the New York Stock Exchange.

May 19, 2011

Aeropostale sees discounts hurting second quarter profit

BANGALORE (Reuters) – Aeropostale Inc (ARO.N: Quote, Profile, Research, Stock Buzz) forecast second-quarter earnings much below analysts’ estimates, as the teen retailer struggles with rising cotton costs, big discounts and competition with peers.

Shares of the company were down 11 percent at $18.90 after the bell.

For the second quarter, the company expects to earn 11-16 cents per share, compared with analysts’ expectations of 27 cents a share, according to Thomson Reuters I/B/E/S.

May 19, 2011

Aeropostale sees discounts hurting Q2 profit, shrs fall

BANGALORE, May 19 (Reuters) – Aeropostale Inc
forecast second-quarter earnings much below analysts’ estimates,
as the teen retailer struggles with rising cotton costs, big
discounts and competition with peers.

Shares of the company were down 11 percent at $18.90 after
the bell.

For the second quarter, the company expects to earn 11-16
cents per share, compared with analysts’ expectations of 27
cents a share, according to Thomson Reuters I/B/E/S.

May 18, 2011

Abercrombie posts blowout quarter on higher margins

BANGALORE, May 18 (Reuters) – Abercrombie & Fitch Co
beat Wall Street’s quarterly profit estimates for the fourth
time in a row, as the teen retailer gained market share from
rivals in both domestic and international markets, sending its
shares up 5 percent at open.

The company’s decision to give up its
high-priced-and-won’t-discount stance has helped, with teenagers
happily returning to its stores to shop for denims and T-shirts.

May 18, 2011

Chico’s sales fall short of expectations, shares drop

BANGALORE, May 18 (Reuters) – Women’s clothing retailer
Chico’s FAS Inc saw margins grow as shoppers readily
spent money on clothes that sell at full price, but sales at the
company did not grow as much as expected.

Chico’s, whose chains include namesake stores as well as the
White House/Black Market and Soma Intimates chains, saw margins
rise 60 basis points to 59.1 percent.

Apr 28, 2011

Reviving economy puts gloss on Revlon results

BANGALORE, April 28 (Reuters) – Cosmetics maker Revlon Inc
posted a higher first-quarter profit as shoppers spent
more on cosmetics and personal care products in a recovering
economy, pushing its shares up 5 percent to a near 1-year high.

New York-based Revlon said sales in its domestic market –
which accounts for about 55 percent of the total — rose 2.3
percent. At least one analyst had expected U.S. sales to dip.

Apr 20, 2011

Canada’s Metro eyes benefits from inflation after dull Q2

BANGALORE, April 20 (Reuters) – Metro Inc (MRUa.TO: Quote, Profile, Research, Stock Buzz),
Canada’s No. 3 grocer, is eyeing benefits from small rise in
basic food prices after witnessing food-price deflation and
competitive discounting that ate into its margins in the second
quarter.

All through last year, a drop in wholesale food prices, also
known as food deflation, forced Canada’s grocers and retailers
to tighten profit margins as they fought off increased
competition and harsher regulations.

Apr 5, 2011

Diamond Foods buys Pringles from P&G for $1.5 billion

BANGALORE (Reuters) – Diamond Foods Inc (DMND.O: Quote, Profile, Research, Stock Buzz) will buy Pringles from Procter & Gamble Co (PG.N: Quote, Profile, Research, Stock Buzz) for $1.5 billion in stock, snagging a global brand that will more than triple the size of its snack foods business.

Pringles, known for its potato chips sold in more than 140 countries, will give Diamond a wider access to international markets and also more than double its sales in the United States and the UK.

Apr 5, 2011

Diamond Foods buys Pringles from Procter & Gamble for $1.5 bln

BANGALORE, April 5 (Reuters) – Diamond Foods Inc
will buy Pringles from Procter & Gamble Co for $1.5
billion in stock, snagging a global brand that will more than
triple the size of its snack foods business.

Pringles, known for its potato chips sold in more than 140
countries, will give Diamond a wider access to international
markets and also more than double its sales in the United States
and the UK.

    • About Nivedita

      "Reporter, covering the consumer/retail sector. Apparel is the beat. Currently based in Chicago. Joined Reuters in 2008"
      Hometown:
      Chicago
      Joined Reuters:
      2008
      Languages:
      English, Hindi, Bengali
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