New York & Company Beats Q2 Estimates on Outlet Conversions
Analysts were looking for break-even results at New York & Company, which recently converted 50 stores to New York & Company Outlet locations. In Q2, the company beat sales and earnings expectations on positive comps (up 0.3 percent) and omnichannel initiatives, and sales growth at the Eva Mendes and Jennifer Hudson lines.
Saks Fifth Avenue Off 5th fills Off-Price Gap in Canada
Hudson’s Bay Company has received a boost from Saks Fifth Avenue Off 5th’s recent store expansions, especially at its Canadian locations.
Saks Fifth Avenue and OFF 5TH, CEO, Jerry Storch said, “In Canada, we are seeing strong early results from our first two Saks Fifth Avenue stores and our first four OFF 5TH stores,” said Jerry Storch, CEO of Hudson’s Bay, parent company o...
Top retailers tout the value sector as a highlight in Q1.
Vera Bradley’s Outlet Locations Drive Growth
Vera Bradley CEO John Wallstrom said recently that his company’s customer base continues to grow, thanks to its outlet shops.
“The strongest driver has been the growth of our outlet business at our Vera Bradley Outlet locations where we see growth in total customer households in both retained and new customers,” Wallstrom said...
Some thing new is on the horizon when brands sound optimistic even when their retail and wholesale businesses are lagging. Although the recent dips have a lot to do with the drop in spending by international tourists, brands are also feeling more confident for another
reason. They have something to fall back on: They’re omnichannel now.
And direct-to-consumer in all its forms, from outlet stores to ecommerce to retailer-driven ...
New York & Company reported 4Q net income of $84,000 versus a loss of $6.7 million in the year ago comparable quarter. Sales rose 1.5 percent and same store sales increased 1.9 percent, achieving its fourth consecutive comp store gain. For fiscal 2015, the 3.1 percent comp gain
was the most robust in the last 10 years with sales psf rising 5.4 percent to $372 from 2014’s $353
level. New York & Company reported a loss per share o...
In ICSC/VRN’s webinar, “15 Things You Really Need to Know About Outlet Retailing,” a group of seasoned outlet execs batted around topics ranging from site selection to predatory leasing to outdated research. The webinar, held June 19, was one of ICSC’s most successful to date, with more than 150 viewers, including the program’s highest number of international participants. Here is a recap of the points that were covered:
VRN’s Marie Driscoll spent a day touring Staten Island during a site visit arranged for outlet retailers.
STATEN ISLAND, N.Y.— Staten Island, long the safe, somewhat humdrum middle child of New York’s five boroughs, is on the cusp of a revitalization designed to capture a larger share of New York City’s 52 million annual visitors.
By summer 2016, the New York Observation Wheel and its neighboring Empire Outlets will be open. T...
Q2 underscores heft of the outlet channel: Q2 was a mixed bag as apparel and accessories companies generally performed better than pure retailers.
The weakest category for retailers during the second quarter of 2013 was juniors. Youth retailers are under considerable pressure as teens flee traditional mall stores. Macy’s cited juniors as a soft category, though off-price retailers Ross Stores and T.J. Maxx experienced traffic g...
CHANNEL CHECK: Luxury Channel Check Posh on parade at Bicester Village
IOJ’s luxury analyst pays a visit to Value Retail’s top-producing outlet village.
My MECCA IS 130 luxury shops in a rural setting less than an hour from London by train. Today the town of Bicester, England, is as much known for Value Retail’s designer outlet village there as it is for its 1,000 years of Saxon history and its proximity to Bleinheim Palace (W...