Earnings season continues in the retail industry. Here are some highlights of some of the latest retailers' earnings reports and future sales estimates. Some of the retailers in this round of earning reports put up positive numbers, which is good to see.
Hot Topic has been faring well despite the recession. Hot Topic's same-store sales were up over 5% in the 4th quarter. Hot Topic has Twilightto thank for its postive sales numbers.
Net-a-Porter reported sales up by 50% for its fiscal year ending January, 2009.
Michaels Stores performed very well with 4th quarter net income up 40%. The company's core arts-and-crafts business had positive sales while sales of its home decor and seasonal products fell. Crafts were expected to be somewhat recession proof.
Profits plunged 27% and sales were flat for UK retailer John Lewis.
Kroger's sale and net-profits were up thanks largely to the company's private-label Kroger brand products.
Bon-Ton is forecasting sales at its store to fall in 2009. Sales for the company fell 9.7% in the fourth quarter of 2008.
Dick's Sporting Goods reported an 8.6% drop in same-store sales and they are forecasting a similar 9% to 12% drop for the first quarter.
American Eagle's profit was down in the fourth quarter. The company's same-store sales for Q4 were also down slightly.
Staples 4th quarter profits fell 14%. Staples chose not to provide first quarter or 2009 estimates. They expect "weak economic climate to continue throughout the year."
