(Reuters) – Leading clothing retailers like Gap Inc (GPS.N: Quote, Profile, Research, Stock Buzz) , American Eagle Outfitters (AEO.N: Quote, Profile, Research, Stock Buzz) are forecast to report larger fourth-quarter profits in the coming weeks, the latest evidence that smart inventory management and lower costs helped overcome sluggish holiday sales for most in the industry.
For calendar 2013, clothes retailers are expected to see margins improve due to better control of when their products arrive in stores, lower manufacturing costs and smarter use of technology for online sales and price comparisons.
(Any opinions expressed here are those of the author, and not necessarily those of Thomson Reuters Corp.)
The mother and father of the 23-year-old Delhi gang-rape victim were cremating their daughter’s body around the same time I discovered Honey Singh, now lately known for his notorious song, “Ch**t,” or “Cu*t.” The song revolves around the singer’s vision of satisfying a woman’s lust, followed by beating her with a shoe and then moving on to other things.
Dec 28 (Reuters) – British education and media publisher
Pearson Plc has agreed to acquire a 5 percent stake in
Barnes & Noble Inc’s Nook Media unit for $89.5 million,
sending shares of the bookstore operator up as much as 9.7
percent on Friday.
The Nook Media unit comprises Barnes & Noble’s digital
businesses – including the Nook e-reader and tablets and the
Nook digital bookstore – and 674 college bookstores across the
(Reuters) – British education and media publisher Pearson Plc has agreed to acquire a 5 percent stake in Barnes & Noble Inc’s Nook Media unit for $89.5 million, sending shares of the bookstore operator up as much as 9.7 percent on Friday.
The Nook Media unit comprises Barnes & Noble’s digital businesses — including the Nook e-reader and tablets and the Nook digital bookstore — and 674 college bookstores across the United States.
Dec 26 (Reuters) – The 2012 holiday season may have been the
worst for retailers since the 2008 financial crisis, with sales
growth far below expectations, forcing many to offer massive
post-Christmas discounts in hopes of shedding excess inventory.
While chains like Wal-Mart Stores Inc and Gap Inc
are thought to have done well, analysts expect much less
from the likes of book seller Barnes & Noble Inc and
department store chain J. C. Penney Co Inc.
Dec 26 (Reuters) – As the U.S. holiday season winds down,
retailers were left to hope that post-Christmas sales could help
salvage their worst performance since 2008, preliminary data
Holiday-related sales rose 0.7 percent from Oct. 28 through
Dec. 24, compared with a 2 percent increase last year, according
to data from MasterCard Advisors SpendingPulse.
Chicago, Dec 21 (Reuters) – In retail, showrooming has not
hit shirts yet.
Showrooming, the retail term for shoppers who try a product,
then buy it cheaper on Amazon.com or other websites,
has driven retailers to the point of hiding barcodes, improving
their own websites and coming up with methods to get people to
complete their purchase in the store.
But brand-name clothing retailers have an advantage over
companies that sell items you can buy anywhere, like televisions
and home goods.
(Reuters) – Nike Inc (NKE.N: Quote, Profile, Research, Stock Buzz) reported forecast-topping quarterly profit on Thursday on strong demand in North America, and its orders volume indicated steady worldwide demand, sending its shares up more than 5 percent after the bell.
Orders for Nike-branded shoes and clothing scheduled for delivery from December 2012 through April 2013, known as futures orders, were up 14 percent in North America, Nike’s most mature market.
(Reuters) – Best Buy Co Inc (BBY.N: Quote, Profile, Research, Stock Buzz) agreed to extend the deadline to February 28 for founder Richard Schulze to make a bid for the company, continuing the uncertainty for shareholders over whether he can put a bid together.
Best Buy shares fell 14.2 percent to $12.12 on the New York Stock Exchange.
The company said on Friday the extension would allow Schulze to include the consumer electronics retailer’s full-year results as part of his due diligence review.
(Reuters) – With West Coast port workers back on the job Wednesday, U.S. retailers and trade groups were turning focus back to negotiations to stop a potentially more damaging port strike in the East.
Retailers ranging from Target and American Eagle to Home Depot told Reuters they have their holiday merchandise in place and the eight-day long strike at the ports of Los Angeles and Long Beach would not upset plans.