AnnTaylor Stores Corp reported a smaller-than-expected quarterly loss on Wednesday 20 May as tight inventory management and cost-cutting improved margins, but it gave a cautious forecast, helping to send its shares down 2.9 percent.
Tween Brands Inc reported a narrower-than-expected first-quarter loss, aided by a tight control of expenses and inventory levels, and said it was on track to "comfortably satisfy" its credit facility covenants.
Citi Trends Inc posted first-quarter profit and revenue above analysts estimates, helped by reduced freight costs and lower markdowns due to tight inventory control, and raised its fiscal 2009 outlook.
Clothing retailer American Apparel Inc swung to a first-quarter loss, cut its full-year outlook and said it may have to restate prior financial statements due to the classification of its revolving credit facility, triggering a 20% slide in its stock.
Dick's Sporting Goods Inc posted higher-than-expected quarterly results as revenue from new stores offset weakness in its golf category, and it forecast second-quarter profit largely in line with market estimates.
K-Swiss must economise this year. After having seen a plunge of 28% in its results during the last quarter of 2008 and having closed its French subsidiary after just two years of its existence, the sports shoe specialist is parting ways with the brand Royal Elastics.
China's hunger for jewellery is boosting demand for platinum at a time when the metal is being hit by the ailing auto sector, metals consultancy Johnson Matthey said in an annual report released Monday 18 May.