(Reuters) – Evidence that Chipotle Mexican Grill Inc’s (CMG.N: Quote, Profile, Research, Stock Buzz) sales growth cooled in the latest quarter raised concern about other areas where consumers could trim discretionary spending, sending down shares of several other retailers and restaurateurs.
Chipotle’s stock shed nearly 25 percent of its value on Friday, a day after the upscale burrito chain’s closely-watched sales at established restaurants missed analysts’ expectations for the second quarter.
CHICAGO (Reuters) – Groupon India has removed at least two deals for clothes by retailers American Eagle Outfitters Inc (AEO.N: Quote, Profile, Research, Stock Buzz) and Abercrombie & Fitch (ANF.N: Quote, Profile, Research, Stock Buzz) from its web site, because it did not have the rights to sell them, the company told Reuters.
“The retailer is not authorized to sell this product, we will investigate the situation to determine appropriate next steps,” American Eagle Outfitters spokesperson Rachel DiCarlo told Reuters in an email. She said the company could not be specific at this time about whether it will pursue legal charges.
July 10 (Reuters) – Tommy Bahama, known for its beach-themed
clothes and accessories, is launching a global e-commerce
platform as it tries to boost its fledgling international
The U.S.-based company, owned by Oxford Industries Inc
, has tied up with FiftyOne Global Ecommerce to take its
online stores to 108 countries, four years after it launched its
domestic online store. The company is expected to announce the
launch later on Tuesday.
(Reuters) – When women shop for lingerie at Victoria’s Secret, they focus on the product and do not worry so much about saving money.
Equity analysts say its relatively well-to-do clientele like trying out the latest in cuts and colors, although some industry watchers worry about the pace of sales growth.
By Nivedita and Bhattacharjee
(Reuters) – Nike Inc (NKE.N: Quote, Profile, Research, Stock Buzz) missed quarterly profit estimates for the first time in at least two years as high spending and costs of raw materials used in its shoes and T-shirts hurt margins, sending its shares down 11 percent.
The company also saw some tempering in demand, especially in China. Futures orders, which are a closely watched metric for its swoosh-marked products, rose 7 percent. That is less than half of the rise in the third quarter.
By Nivedita Bhattacharjee
(Reuters) – When Germany faces Portugal at the Euro 2012 football championship on Saturday, another battle is playing out between sponsors Nike Inc and Adidas AG for the top spot in selling gear for the world’s most popular sport.
The Portuguese team’s Nike-sponsored red jerseys, set against the white Adidas jerseys worn by Germany, underscore how much headway Nike has made against Adidas, once the dominant brand for all things football.
June 8 (Reuters) – When Germany faces Portugal at the Euro
2012 soccer championship on Saturday, another battle is playing
out between sponsors Nike Inc and Adidas AG
for the top spot in selling gear for the world’s most popular
The Portuguese team’s Nike-sponsored red jerseys, set
against the white Adidas jerseys worn by Germany, underscore how
much headway Nike has made against Adidas, once the dominant
brand for all things soccer.
(Reuters) – With a weak job market, signs of rising inventories and the shopping-intensive festive season still months away, U.S. retailers are bracing for a bland second quarter.
Quarterly earnings for the retail sector are expected to rise 8.8 percent in the quarter from a year ago, after jumping 12.2 percent in the first quarter when unseasonably warm weather and colorful clothes helped sales, according to Ken Perkins, president of research firm Retail Metrics.
(Reuters) – Shares of Talbots Inc (TLB.N: Quote, Profile, Research, Stock Buzz) plunged as much as 39 percent on Friday after exclusive negotiations with Sycamore Partners ended without an agreement for the private equity firm to buy the women’s apparel retailer, which can now look for other deals.
Talbots said it is open to pursuing a transaction with Sycamore at $3.05 per share, which would value the retailer at around $215 million, if the private equity firm can provide certainty that it can get financing and close the deal. Talbots said Sycamore was not ready make a deal at this time.
(Reuters) – Abercrombie & Fitch Co (ANF.N: Quote, Profile, Research, Stock Buzz) posted a sharp drop in profit and its first quarterly decline in sales at established stores in more than two years, pressured in part by weak sales in Europe.
Its shares fell some 8 percent in premarket trading.
Same-store sales, or sales at stores open at least a year — an important measure of retail growth — fell 5 percent in the quarter, and the teen clothing retailer forecast a tepid year ahead.