latest from financial and general interest news

Delta Galil: Sales, Income Up In 2nd Qtr.

Delta Galil’s second quarter sales and earnings were both up over the same quarter last year, continuing to propel the firm towards its first fiscal year with sales over $1 billion. In fact, the company has “already reached that milestone during the four quarters ended June 30, 2014,” noted CEO Isaac Dabah in comments accompanying the financial release. » I want to read more and receive info from Delta Galil

Income Up, Sales Down At Yarn Maker Unify

Yarn maker Unifi, Inc. reported a higher net income for the 52 week year ended June 29, 2014, of $28.8 million on lower sales of $687.9 million. In the 53-week fiscal year that ended June 30, 2013 the company reported net income of $16.6 million on higher sales of $714.0 million. » I want to read more and receive info from Unifi

UK La Senza Lingerie Stores In Administration

Marnixheath Limited, which controls the La Senza lingerie chain of 55 stores in the UK, has been placed into administration, a legal status similar to bankruptcy. La Senza operations in other parts of the world are controlled by L Brands and are unaffected by the move. » I want to read more and receive info from La Senza

Victoria’s Secret Stores Up 3%, Direct Up 6%

“Victoria’s Secret stores North America June comparable store sales increased 3% driven by increases in lingerie and Pink” while June sales at Victoria’s Secret direct rose 6% over the same month last year, according to Amie Preston, chief investor relastions, at parent company L Brands. » I want to read more and receive info from Victoria’s Secret

Hanes To Buy European Underwear Firm DBA

HanesBrands announced today intends to acquire DBApparel of France, an underwear and hosiery producer, from Sun Capital Partners, Inc. for a purchase price of “€400 million on an enterprise basis (approximately $550.” » I want to read more and receive info from HanesBrands

Gildan Activewear Agrees To Acquire Doris

Gildan Activewear, Inc. announced it has signed an agreement to “acquire substantially all of the assets of Doris Inc. (Doris), a marketer and manufacturer of branded sheer hosiery, legwear and shapewear products to retailers in Canada and the United States." The initial purchase price is approximately $101.4 million. » I want to read more and receive info from Gildan Activewear

Soma’s Parent May Be Considering Takeover

Chico’s FAS, Inc., in early June, was widely reported to be in preliminary discussions to consider the option of a private equity buyout or some type of takeover, this leading to a significant jump in its stock price. One of the firm’s best-performing divisions is Soma, a retailer of intimates, sleepwear and loungewear. » I want to read more and receive info from Soma

VS Direct Down 10%, Stores Up 2% For May

While Victoria’s Secret North American comparable store sales for May rose 2%, and Victoria’s Secret direct sales declined 10%, parent company L Brands reported a company-wide net sales increase of 4%. » I want to read more and receive info from Victoria’s Secret

L Brands Income Rises, VS Strategies Adjusted

In the conference call to discuss its first quarter earnings, L Brands acknowledged a modest reduction in the number of U.S. lingerie stores it plans to open this year, said it is exiting some apparel and make-up categories, and confirmed its emphasis on opening new Pink stores as opposed to Victoria’s Secret stores in this country. » I want to read more and receive info from L Brands

Frederick’s Completes "Going Private" Deal

The acquisition of Frederick’s of Hollywood Group Inc. by “HGI Funding LLC, a wholly owned subsidiary of Harbinger Group Inc., and certain of the company’s other common and preferred shareholders” was approved May 28th “by over two-thirds of the aggregate voting power of the company’s common stock.” » I want to read more and receive info from Frederick’s of Hollywood

Delta Galil: 1st Quarter Net Income Up 40%

Delta Galil is off to a great start in 2014. First quarter net income soared to $9.3 million, 40% above the same quarter last year, while sales also rose, and the company raised its sales guidance for the full year — now even further above the $1 billion mark than it had originally predicted. » I want to read more and receive info from Delta Galil

Victoria’s Secret Store Sales Rose 8% In April

Victoria’s Secret comparable store sales for April, in the U.S. and Canada, rose 8% over the same month last year. Meanwhile, Victoria’s Secret Direct sales dropped 3% from last year. » I want to read more and receive info from Victoria’s Secret

Victoria’s Secret: 50 New U.S. Stores In 2014

The number of Victoria’s Secret stores here and around the world will take another big jump in 2014, most likely topping 1,100 in the U.S., according to parent company L Brands’ annual report for 2013 and information released during the firms 4th quarter conference call. » I want to read more and receive info from Victoria’s Secret

NPD: Tights Up 33%, Women’s Apparel 4%

The NPD Group estimated women’s apparel retail sales grew to $116.4 billion in 2013, a 4 percent increase over the $112.3 billion it estimated for 2012. And one particularly dramatic increase occurred in hosiery where “dollar sales for tights grew 33 percent in 2013.” » I want to read more and receive info from NPD

Victoria’s Secret Comp March Sales Down 1%

“Victoria’s Secret North America March comparable store sales decreased 1%,” according to Amie Preston, chief investor relations officer at parent company L Brands. » I want to read more and receive info from Victorias Secret

Frederick’s: Closes 16 Stores, Loses $5.1 M

Frederick’s of Hollywood Group Inc. lost $5.1 million in the fiscal second quarter 2014 on sales of $23.5 million, compared to a loss of $10.0 million on sales of $24.3 million in the same period last year. » I want to read more and receive info from Frederick’s of Hollywood

Thekkekara of Dolce Vita Purchases Lunaire

Jack Thekkekara, who owns Dolce Vita Intimates, LLC and some years ago purchased the Movie Star brand, has purchased the Lunaire brand. Lunaire is a 20-year-old firm that specializes in attractive bras in fuller sizes. » I want to read more and receive info from Dolce Vita

Victoria’s Secret Comp February Sales Up 2%

February comparable store sales at Victoria’s Secret stores in North America were up 2% “driven by core lingerie and Pink,” while at Victoria’s Secret direct sales rose “1%, as growth in bras, panties, Pink, swim and sport was partially offset by a decline in apparel,” according to Amie Preston, chief investor relations officer at parent company L Brands, Inc. » I want to read more and receive info from Victoria’s Secret

Delta Galil: Sales Will Top $1 Billion in 2014

Sales at Delta Galil in 2013 rose 19%, from $817,782,000 to $974,719,000 and CEO Isaac Dabah projects that “Based on our initial financial guidance,” 2014 “will be our first year of sales in the $1 billion-plus range” in a press release that accompanied the year end results. » I want to read more and receive info from Delta Galil

Problems At Intimacy As Van de Velde Rises

Sales rose slightly in 2013 at Van de Velde, the Belgian firm that owns Intimacy and PrimaDonna among other stores and brands (up 0.4% to 182.4 million euros - about $251.9 million at today’s exchange rates). » I want to read more and receive info from Van de Velde

L Brands: Small To No Sales Gains In February

L Brands, Inc., parent to Victoria’s Secret and La Senza among others, reported “Earnings per share for the 13-week fourth quarter ended February 1, 2014, were $1.65 compared to adjusted earnings per share of $1.76 for the 14-week fourth quarter ended February. 2, 2013. Adjusted earnings per share for the prior year on a 13-week basis were approximately $1.68.” » I want to read more and receive info from L Brands

Hanes Sales Rose, Profits Doubled In 2013

Hanesbrands recorded double the net income in 2013 that it did in 2012, despite a fourth quarter 2013 in which net income fell from $80.4 million in 2012 to $32.3 million. Full year sales in 2013 were $4.628 billion compared to $4.526 billion the year before as profits rose from $164.7 million to $330.5 million. » I want to read more and receive info from HanesBrands

L Brands Comparable Sales Up 9% in January

L Brands, Inc., (parent to Victoria’s Secret and La Senza), reported “comparable sales for the four weeks ended Feb. 1, 2014 increased 9% compared to the four weeks ended February 2, 2013,” as well as sales increases for the full year 2013. » I want to read more and receive info from Victorias Secret

Suit Opposes Frederick’s ’Going Private’ Deal

A minority Frederick’s of Hollywood shareholder, Bruce Paul, is the lead plaintiff in a class action lawsuit filed in New York County Supreme Court opposing the proposal by a consortium of shareholders to take the company private. » I want to read more and receive info from Fredericks of Hollywood

Victoria’s Secret Parent: Sales Up In December

L Brands, Inc., parent to Victoria’s Secret and La Senza among other stores and brands, reported sales increases for both December and the 48 weeks ended January 4th, 2014, while at the same time lowering its estimated earnings moderately for the fourth quarter due to lower margins and increase promotions. » I want to read more and receive info from Victorias Secret

Frederick’s Going Private, Lynch Still CEO

Frederick’s of Hollywood Group Inc. has agreed to be taken private by a group of investors who already own most of its outstanding shares. The proposed move was first announced at the end of September. Thomas Lynch, the current CEO, has received a contract to remain with the company for three more years. » I want to read more and receive info from Frederick’s of Hollywood

November Sales Up For Victoria’s Secret Parent

Victoria’s Secret November comparable sales declined 3% (while the brand’s direct channel sales increased by 9%) as parent L Brands, Inc. overall net sales rose to $988.5 million for the four weeks ended Nov. 30, 2013, compared to net sales of $922.0 million for the four weeks ended Nov. 24, 2012. » I want to read more and receive info from Victorias Secret

Victoria’s Secret Stores October Sales Up 10%

Comparable store gains of 10% at Victoria’s Secret stores this October over the same month last year led to company-wide sales gains for its parent, L Brands, Inc. (formerly known as Limited Brands). » I want to read more and receive info from Victorias Secret

Sales Rise, Net Income Falls At Delta Galil

Sales at Delta Galil Industries, Ltd. rose in the third quarter ended September 30, 2013 to $257,199,000 from $233,996,000 while income dropped significantly to $12,674,000 from $20,190,000 in the same period last year, the decline attributed, by the firm, to various “non-recurring” or “one-time” items. » I want to read more and receive info from Delta Galil

Frederick’s Has $22.5M Loss In Fiscal 2013

Frederick’s of Hollywood Group, Inc. reported Friday a loss of $22.5 million for 2013, as well as a dramatic 22.4% drop in sales from $111.4 million in the fiscal year ended July 28, 2012 to $86.5 million for the year ended July 27, 2013. The release of the year-end results comes as the company’s “sole disinterested independent director“ considers a recent offer to take the company private. And two weeks after Frederick’s amended agreements with its lenders, resulting in, among other things, an increase in its revolving line of credit from $24 million to $35 million with “$5 million having been advanced on October 10.” » I want to read more and receive info from Frederick’s of Hollywood

Limited Brands Closes Senior Notes Offering

L Brands, formerly known as Limited Brands (and parent to Victoria’s Secret), announced yesterday “the closing of its previously announced offering of $500 million aggregate principal amount of unsecured senior notes due 2023 (the “2023 Notes”).” » I want to read more and receive info from L Brands

September Sales Rise At Victoria’s Secret

L Brands, Inc. (formerly known as Limited Brands), parent to Victoria’s Secret, reported an increase in sales for the five weeks ended October 5, 2013 when compared to a similar period last year. Comparable store sales for this September vs. last September increased 1% at Victoria’s Secret stores, 2% at Victoria’s Secret direct and 3% at La Senza, the firm’s Canadian lingerie store chain. » I want to read more and receive info from L Brands

Group In Offer To Take Frederick’s Private

A “consortium” of shareholders owning about 70% of the outstanding common shares of Frederick’s of Hollywood Group Inc., a public company, has sent the company’s board of directors a “non-binding proposal letter” offering to purchase the remaining shares and take the company private. » I want to read more and receive info from Frederick’s of Hollywood

Hanes: Will Soon Close Maidenform Acquisition

HanesBrands has reaffirmed its 2013 financial guidance and said that its acquisition of Maidenform, intention of which it announced in July, “is expected to close by Tuesday, Oct. 8, 2013, pending approval by Maidenform stockholders voting at a special meeting on Thursday, Oct. 3, 2013, and satisfaction of other customary closing conditions. The acquisition has already received regulatory clearance.” » I want to read more and receive info from HanesBrands

Lingerie Sales Rose In August for L Brands

August comparable store sales were up 3% at both Victoria’s Secret stores and Victoria’s Secret Direct, as well as 8% at La Senza lingerie stores in Canada, as parent company Limited Brands, Inc., (now known as L Brands, Inc.) reported rising net sales of $704.7 million for the four weeks ended Aug. 31, 2013, compared to net sales of $665.6 million for the four weeks ended Aug. 25, 2012. » I want to read more and receive info from Limited Brands

L: Adding Pink, Cutting Victoria’s Secret Stores

Limited Brands, Inc. (now known as L Brands, Inc.), which is parent to Victoria’s Secret, is actually cutting the number of North American Victoria’s Secret stores by 20 in 2013, while at the same time increasing the number of Pink stores by 49. It also reported increased company-wide sales in July compared to last year. » I want to read more and receive info from Limited Brands

Victoria’s Secret Parent: Q2 Sales, Earnings Rise

Limited Brands, Inc. (now known as L Brands, Inc.), parent to Victoria’s Secret, reported increased sales and income for the second quarter and increased its guidance for per share earnings for the full year. » I want to read more and receive info from Limited Brands

Hanes Agrees to Acquire Maidenform for $575 M

HanesBrands announced today that it “has entered into a definitive agreement to acquire Maidenform Brands” in a transaction valued at approximately $575 million on an enterprise-value basis,” or “$23.50 per share, a 30 percent premium to Maidenform’s average closing price over the past 30 days.” » I want to read more and receive info from HanesBrands

Triumph About To Open 2 Long Island Stores

Triumph held a “media event” (in the words of one executive — meaning that the focus was not on impressing retailers, who were not in attendance in any number) the night of July 18, as part of its expansion plans for the U.S. Most significantly, two Triumph flagship locations are about to open, one in the Roosevelt Fields mall, one in the Walt Whitman mall. » I want to read more and receive info from Triumph

Hanes Names Moran of PetSmart To Its Board

HanesBrands appointed Robert Moran, former chairman and chief executive officer of PetSmart, Inc., to its board of directors. » I want to read more and receive info from HanesBrands

Van de Velde: 11% First Half Decline at Intimacy

First half sales fell by 2% at Van de Velde, the Belgian public company that is parent to several brands and retail chains. One of these stores, Intimacy in the U.S., suffered an 11% decline during the first six months. Company-wide, sales dropped to m€ 96.8 (about $126 million), compared to m€ 98.7 for the same period last year. » I want to read more and receive info from Van de Velde

Victoria’s Secret Store Sales Declined in June

Victoria’s Secret comparable stores sales as well as Victoria’s Secret Direct sales both declined in June. For parent L Brands, Inc. (which has been known as Limited Brands) overall net sales for the five weeks ended July 6, were $1.101 billion, slightly higher than “net sales of $1.077 billion for the five weeks ended June 30, 2012.” » I want to read more and receive info from Victoria’s Secret

Galleria Intima: Holding 2nd Trade Show in India

Galleria Intima, which describes itself as “India’s only sourcing fair for intimate apparel professionals,” will return for its second annual event in August (at the Grand Hyatt in Goa on the 23rd and 24th). And Invista and Lenzing will again be among the expanded list of exhibitors. » I want to read more and receive info from Galleria Intima

PVH: $20 Million Loss On Warnaco Expenses

PVH Corp. lost $20.0 million in its first quarter ended May 5, 2013 on sales of $1.823 billion, compared to a profit $95.5 million on sales of $1.313 billion for the same quarter last year, ended April 29. A company statement said that the loss was “due to significant costs incurred in connection with the company’s acquisition during the quarter" of Warnaco and “with the related integration and restructuring, a significant portion of which was non-cash.” » I want to read more and receive info from PVH

Wolford Reports Yearly Earnings Down Sharply

As a result of dramatically reduced earnings, Wolford announced in mid June that “the management board will propose to the annual general meeting to suspend the dividend payment for the 2012/13 fiscal year and to focus the financial resources on profitable growth.” » I want to read more and receive info from Wolford

Frederick’s: 3rd Quarter Loss of $643,000

Frederick’s of Hollywood Group Inc. lost $643,000 on sharply declining sales of $23,293,000 in its fiscal third quarter 2013, compared to a profit of $3,313,000 on sales of 30,181,000 during the same period last year. In addition the retailer has reduced, since mid-March, the number of its retail outlets by three, bringing the current total to 112. » I want to read more and receive info from Frederick’s of Hollywood

Victoria’s Secret Store Sales Up 4% in May

Increased sales at Victoria’s Secret and La Senza stores helped lift Limited Brands, Inc. (now known as L Brands, Inc.), net sales to $737.0 million for the four weeks ended June 1, 2013, compared to net sales of $671.9 million for the four weeks ended May 26, 2012. » I want to read more and receive info from Victoria’s Secret

$5 Million Increase To Frederick’s Credit Line

Frederick’s of Hollywood Group Inc. reported that Salus Capital Partners, LLC, its lender, “increased the FILO (first in last out) Advance credit line portion of the company’s credit facility by $5.0 million to $14.0 million.” Commented chairman and CEO Thomas Lynch, “By increasing the FILO Advance credit line to $14 million, we have greater financial flexibility to work with vendors and invigorate our merchandising strategy, which will play an important role in stabilizing our business.” » I want to read more and receive info from Frederick’s of Hollywood

Van de Velde: First Half Sales May Decline

Van de Velde announced that sales in the first half of 2013 may be below those in the first half of last year, noting that “The consumer market continues to be very tough. In the first quarter of 2013 there were signs of falling sales throughout Europe among independent retailers (in excess of 4%).” » I want to read more and receive info from Van de Velde

Limited Brands 2013 Q1 Sales, Earnings Rise

Limited Brands, Inc. (which has changed its name to L Brands, Inc. and is the parent to Victoria’s Secret and La Senza) reported first quarter earnings of $142.5 million on sales of $2.268 billion compared with earnings of $124.6 million on sales of $2.154 billion last year. » I want to read more and receive info from Limited Brands

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