The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — Limited Brands Inc. rose the most in almost seven months after posting August sales that topped analysts' estimates, led by its Victoria's Secret lingerie brand.
Comparable-store sales rose 6 percent, the Columbus, Ohio- based company said Thursday in a statement. Analysts estimated 2.3 percent, according to Retail Metrics. Same-store sales at Victoria’s Secret also climbed 6 percent, beating the 2.3 percent average projection.
Limited Brands is working to sustain sales growth in its Victoria’s Secret and Bath & Body Works brands by bringing new merchandise into stores faster and improving customer service. Victoria’s Secret benefited from strong back-to-school demand for Pink brand products, even as the later Labor Day holiday shifted some sales into September, the company said on a conference call today.
The shares advanced as much as 5.6 percent to $90.55 in New York, the biggest intraday gain since Feb. 5. Limited Brands was little changed this year through Wednesday.
Genesco Inc., owner of the Lids baseball-cap stores, also rose Thursday after posting better-than-estimated results. Second-quarter profit was 36 cents a share, excluding some items, the Nashville, Tennessee-based company said in a statement. Analysts projected 25 cents. The shares climbed as much as 12 percent to $65.78, the biggest intraday gain since June 2011.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.