Redbook reported Thursday that U.S. chain store sales, which comprise roughly 10 percent of all retail sales, mostly improved in August and apparel retail stocks inched up by 0.48%, or 29.49 points, in the month. By comparison, the Dow Jones Industrial Average declined 0.17% in August, or 31.36 points.
Teen retailer Tilly’s (TLYS) saw its stock jump 53.6% in August to end the month at $8.73 per share, after reporting that net sales rose 5 percent to $136.4 million in its second quarter. In addition, net income increased from $0.6 million a year ago to $1.4 million or 5 cents per diluted share.
Shares of Beaverton, Oregon-based Nike (NKE), set to release its next quarterly earnings report on Sept. 22, gained 3.86% last month to close at $57.63. This was an improvement on the prior month, when the share price fell to $55.50 after its full-year results fell short of expectations.
After announcing that sales at stores open for at least a year rose by only 4 percent in its second quarter, compared with a 6 percent increase a year earlier, off-price operator TJX Companies (TJX) experienced a 5.24% decline in shares to end August at $77.42.
Discount retailer Dollar General (DG), which expects to operate 15,000 stores by the end of fiscal 2017, closed August at $73.50, losing 22.51% in the month.
Specialty retailer Express (EXPR) announced in August that comparable store sales decreased 8 percent in its second quarter, versus a 7 percent increase the previous year, and its share price suffered as a result—falling more than 20 percent to end the month at $11.86.
Sales are still falling at Gap Inc.’s (GPS) three big brands—Gap, Old Navy and Banana Republic—and its share price fell 3.57% to close August at $24.94.
Macy’s (M) announced plans last month to close 100 stores in early 2017 to focus more on omnichannel, after revealing that sales at stores open for at least a year decreased 2 percent in its second quarter. Thanks to the promise of an enhanced online presence, the company’s share price gained 0.98% in August to end the month at $36.28 and some analysts described its stock as “lucrative.”
How Amazon may strip Whole Foods of its touchy-feely ethos—and why that's a good thing—had how cold brew proves you can teach old dogs new tricks.Read more
Loftex Home and GHCL sign CertainT licences, Hollander Sleep Products Buys Pacific Coast Feather and Oeko-Tex certifies Tuft & Needle.Read more
The National Retail Federation continues to lobby Congress with regards to the border adjustment tax, reiterating its claim that it would shift corporate tax savings to consumers.Read more
NRF announced new board members this week, while Topshop hired a new CEO and Macy's stepped up its off-price game with a new executive.Read more
Fashion can’t escape what’s happening in the world whether it wants to or not, and for the Autumn/Winter 2018-19 season, textiles will look to balance all that’s been upended.Read more
The Chittagong Port Authority has taken steps to alleviate the congestion situation at Bangladesh’s top port, but no comprehensive plan is in the works to fix what has been a long-term logistical problem.Read more
Looking to boost cotton quality and exports, Egypt’s Ministry of Trade and Industry has signed a cooperation protocol with United Nations Industrial Development Organization (UNIDO) and the Italian Development Cooperation.Read more