Jil Sander's Navy, Limelight Marketplace, Nordstrom and Target Grow, Price of Cotton Increasing, Polo and Target Report Strong Quarter
"Prints, color and California are not words typically associated with Jil Sander, a collection anchored in strict devotion to minimalism and precision cuts. Yet those concepts unite in Jil Sander Navy, Raf Simons’ new casual collection that the Milan-based company is launching for spring 2011." see more
"After a decade of deflation, the cost of producing apparel is on the rise. Prices for cotton are up about 55% from a year earlier. "We are facing a very serious problem in terms of increased cotton prices,"Abercrombie & Fitch Co. Chief Executive Michael Jeffries said Tuesday. The increases are making it harder for the high-priced teen retailer to restore margins already eroded by steep markdowns and depressed sales."
"Better apparel sales helped both Polo Ralph Lauren Corp. and Target Corp. come in ahead of Wall Street expectations Wednesday. Polo’s net more than doubled in its fourth quarter to $114.1 million, or $1.13 a share, from $44.5 million, or 44 cents a share, in 2009. Target grew its first quarter bottom line by 28.6 percent to $671 million, or 90 cents a diluted share, from $522 million, or 69 cents a share, a year ago." read more
It was an Episcopalian place of worship, then a drug rehab center, briefly a nightclub, and now a pricey specialty marketplace in the heart of Chelsea. There are a range of shops, everything from a bakery to an antique store, including a shop for dog bone shaped cookies for your 6 inch teacup poodle. The maze of shops will keep you looking for hours, but we do have to agree, the black and white theme is vertigo inducing! read more
"Coming out of the recession, Gap has no debt, $2.3 billion in cash, a clearer grasp of what apparel customers want in the lean economy, remodeled and relocated U.S. and Canadian stores, and online sales in Canada poised to launch, Murphy said."
“As consumers sit on the sidelines, we have to give them a reason to part with their dollars,” said Nordstrom. “This forced us to evolve our product offering. We continue to see improvement with bringing in fresh new product every day." Reflecting on recent improvements in the business — such as the 43.2 percent increase in first-quarter profit reported last week and the 10 percent improvement in 2009 earnings — Nordstrom said, “It’s a lot better to be here today than it was a year ago.”” read more