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Friday, 13 May 2011 |
Retail shares traded modestly higher on Thursday, as showed the FashionUnited Top 100 Index showed,
closing up by 16.13 and settling down at a comfort height of 1348.81.
In USA, Kohl's results, combined with Macy's (+0.99%) strong results earlier in the week, lifted retail shares. The S&P 500 Retail Index gained while shares of most department stores traded higher on Thursday, including JC Penney, which gained 2.31%.
In the corporate news chapter, True Religion Apparel announced that has named Jordan Daly as Vice President of Brand Strategy, Marketing and Public Relations effective May 1, 2011. Soon after released the nomination, shares of the jeans retailer went up by 0.39%. Ms. Daly will be responsible for developing the direction for, and managing all aspects of brand management, marketing, public relations and special projects on a global basis. She will drive a strategic multi-platform communication plan, oversee brand identity and positioning, campaigns, public relations, special events, product launches and internal communications to further build the Company’s market leadership position and maximize profitability. Ms. Daly was most recently Vice President Public Relations Americas for Burberry Group.
Also The Children's Place Retail Stores Inc. just named Eric Bauer to the newly created position of chief operating officer. The company´s shares closed up by 0.57%.
Finally, The Gap Inc. is scheduled to report its first quarter FY 2011 earnings on May 19. The retailer already reported a small drop in net sales for the first quarter ended April 2011. The company reported a decrease of 1 percent to $3.30 billion for the first quarter FY 2011, compared with $3.33 billion for the first quarter last year. The company's first quarter comparable sales, which include the associated comparable online sales, were down 3 percent compared with a 5 percent increase in the first quarter of the prior year. For the last quarter, the company's reported EPS exceeded analysts' consensus estimates by margin of 3.40 percent. |
