MOSS ADAMS CAPITAL: Apparel and foowear market monitor highlights notable deals, stock prices and results.
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Retailers reported mixed results for October this morning, with some coming in below expectations and lowering their third quarter earnings guidance, while others posted good results.
Here are the results from a variety of retailers. Zumiez reported October sales Wednesday. Click here for details.
The Buckle continued to post solid results, with October same store sales up 8.7%. In the third quarter, same store sales rose 9.1%.
The Buckle's October results were better than the 6.3% increase expected by analysts.
Abercrombie & Fitch, the parent company of Hollister, reported that its domestic business in the third quarter accelerated while its international business slowed, and comps turned negative at its international flagship stores. Sales in Japan and Canada also fell.
In total, Hollister was the company’s best performing chain, with same store sales rising 8% in the third quarter. Hollister ended the quarter with 501 stores in the U.S. and 63 international stores.
Company wide, sales in the U.S. rose 14% to $820.2 million. International sales rose 56% to $255.7 million. Total sales rose 21% to $1.07 billion.
Macy’s reported a 2.2% rise in October same store sales, with warmer weather and then a late-month snowstorm impacting sales. Same store sales in the third quarter rose 4%. The company expects a solid holiday season with same store sales in the fourth quarter expected to rise 4% to 4.5%.
Nordstrom said same store sales in October rose 5.4%, while same store sales in the third quarter rose 7.9%.
Wet Seal reported one of the biggest declines, with same store sales falling 9.7%. Sales were “well below expectations” at both Wet Seal and Arden B. As a result, the company lowered third quarter earnings expectations.
Hot Topic said same store sales declined 1.6% in the third quarter, and the company said earnings would come in at the low end of its guidance, and it lowered its expectations for the fourth quarter.