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Nov 20, 2012

Thanksgiving Day shopping: retailer sales trump tradition

By Nivedita Bhattacharjee

(Reuters) – Whether U.S. shoppers and workers like or loathe the encroachment of the holiday shopping season into Thanksgiving Day, one thing is for certain – the trend is not going away.

Even as stores fight charges of spreading holiday creep instead of cheer, retailers are making money out of moving the start of the holiday shopping season from “Black Friday” — the day after Thanksgiving — into Thanksgiving night, or even the Day itself.

Nov 15, 2012

Gap raises full year profit view, quells slowdown fears

Nov 15 (Reuters) – Gap Inc posted a bigger quarterly
profit on Thursday and quelled fears of a possible slowdown
ahead of the holiday season as the retailer raised its profit
view for the year, sending its shares up 3 percent after the
bell.

The owner of the Gap, Old Navy and Banana Republic chains
expects to earn between $2.20 to $2.25 a share, up from its
August forecast of $1.95 to $2.

Nov 14, 2012

Rosy profit, outlook send Abercrombie shares up 30 percent

By Nivedita Bhattacharjee

(Reuters) – Robust demand in foreign markets helped Abercrombie & Fitch Co (ANF.N: Quote, Profile, Research, Stock Buzz) report unexpectedly improved third-quarter profit and a full-year outlook that exceeded analysts’ estimates, sending shares up as much as 30 percent on Wednesday.

The retailer expects to earn $2.85-$3.00 a share for the full year. Analysts, on average, expect the company to earn $2.48 a share, according to Thomson Reuters I/B/E/S.

Nov 14, 2012

Abercrombie & Fitch jumps 30 percent on results, outlook

Nov 14 (Reuters) – Shares of Abercrombie & Fitch Co
soared more than 30 percent in premarket trading after the teen
clothing retailer reported improved third-quarter profit
Wednesday on demand in foreign markets and a full-year forecast
that exceeded analysts’ estimates.

Still, the improved performance doesn’t signal the end of
Abercrombie’s troubles, analyst Brian Sozzi of NBG Productions
said.

Nov 13, 2012

Kors expects more profits, sees demand strengthen

By Phil Wahba and Nivedita Bhattacharjee

(Reuters) – Fashion company Michael Kors Holdings Ltd’s (KORS.N: Quote, Profile, Research, Stock Buzz) second- quarter income more than tripled and the company raised its full-year profit view as it benefited from strong demand at home as well as in European markets.

Michael Kors, whose founder is a judge on the long-running television fashion show “Project Runway,” said holiday-quarter sales at its own stores, open a year, could rise by a “mid-20 percent.”

Nov 12, 2012

Groupon fights for its life as daily deals fade

CHICAGO/SAN FRANCISCO (Reuters) – Groupon and its compatriots in the much-hyped daily deals business were supposed to change the very nature of small-business advertising. Instead, it is the daily deal vendors that are racing to change as evidence mounts that their business model is fundamentally flawed.

Groupon last week reported another quarter of disappointing earnings as its core business stagnated, sending its stock down 30 percent to an all-time low of $2.76. Its biggest rival, Living Social, is piling up losses, and part-owner Amazon.com (AMZN.O: Quote, Profile, Research) earlier this month recorded a quarterly loss after writing down its Living Social investment.

Nov 12, 2012

Analysis: Groupon fights for its life as daily deals fade

CHICAGO/SAN FRANCISCO (Reuters) – Groupon and its compatriots in the much-hyped daily deals business were supposed to change the very nature of small-business advertising. Instead, it is the daily deal vendors that are racing to change as evidence mounts that their business model is fundamentally flawed.

Groupon last week reported another quarter of disappointing earnings as its core business stagnated, sending its stock down 30 percent to an all-time low of $2.76. Its biggest rival, Living Social, is piling up losses, and part-owner Amazon.com earlier this month recorded a quarterly loss after writing down its Living Social investment.

Nov 1, 2012

US retailers’ holiday season to withstand Sandy effect

Nov 1 (Reuters) – A handful of U.S. retailers expect the
massive storm on the U.S. East Coast this week to hurt demand in
November, while overall holiday sales should still show the slow
growth that was previously forecast.

Costco Wholesale Corp, Nordstrom Inc and
Rite Aid Corp all said on Thursday that November sales
would suffer because of store closures due to Sandy, one of the
largest storms to hit the United States.

Nov 1, 2012

PVH unites Calvin Klein lines in $2.8 billion deal

By Nivedita Bhattacharjee

(Reuters) – Clothing maker PVH Corp (PVH.N: Quote, Profile, Research, Stock Buzz) will unite Calvin Klein underwear, jeans and sportswear lines under one roof in a $2.8 billion deal to buy rival Warnaco Group Inc (WRC.N: Quote, Profile, Research, Stock Buzz), the latest move in the consolidation of the apparel manufacturing industry.

The cash and stock deal also nets PVH Warnaco’s brands and licenses like Speedo and Chaps to go along with its Tommy Hilfiger, IZOD and Van Heusen brands.

Nov 1, 2012

US stores have solid October, small Sandy impact so far

Nov 1 (Reuters) – A handful of U.S. retailers expect the
massive storm that hit the U.S. East Coast this week to hurt
sales in November, while overall holiday sales should still show
the slow growth that was forecast before Sandy hit.

Costco Wholesale Corp, Nordstrom Inc and
Rite Aid Corp all said on Thursday that November sales
would suffer because of store closures due to Sandy, one of the
largest storms to ever hit the United States.

    • About Nivedita

      "Think all things tech and telecoms. Currently in Mumbai. Previously in Chicago, covering retail, transport and airlines. Joined Reuters in 2008."
      Joined Reuters:
      2008
      Languages:
      English, Hindi, Bengali
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