Tag: quarter

Real-Estate Losers in 2020, Like Hotel and Mall Owners, Starred in the First Quarter

by  on  in Mall

Shares of companies that own shopping centers, hotels and New York office buildings were decimated most of last year but mounted a first-quarter comeback, as investors bet that a vaccine rollout can revitalize these hard-hit businesses.

Real-estate investment trusts overall rose 9% during the three months, beating the S&P 500’s 6% gain, according to data-analytics firm Green Street. Fueling the REIT rally was an 18% rise in the shares of lodging owners and a 32% gain by mall owners.

The real-estate recovery was part of a broader market surge that lifted many beaten-down sectors starting late last year, when

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Shoe Carnival Reports Fourth Quarter and Fiscal Year 2020 Financial Results

by  on  in Shoe Store

EVANSVILLE, Ind.–()–Shoe Carnival, Inc. (Nasdaq: SCVL) (the “Company”), a leading retailer of moderately priced footwear and accessories, today reported results for the fourth quarter and fiscal year ended January 30, 2021.

Fourth Quarter 2020 Highlights

  • Record fourth quarter net sales of $253.9 million
  • Fourth quarter net income increased 114 percent year-over-year
  • Record fourth quarter diluted net income per share of $0.52
  • Cash and cash equivalents were $106.5 million with no outstanding debt as of January 30, 2021
  • Comparable store sales increased 6.4 percent for the quarter, on top of a 3.2 percent comparable store sales increase in
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Retail sales increased, but clothing stores and shoe stores were hit hard in the fourth quarter

by  on  in Shoe Store

Clothes stores have been hit hard. Photo: DutchNews.nl

Despite the coronavirus crisis, Dutch retail sales increased by nearly 6% annually, according to new figures from the national statistic agency CBS.

This means that retail sales have increased for the seventh consecutive year, CBS said.

However, there are significant differences depending on the type of retail. In addition, shoe and clothing store sales fell 27% year-on-year during the last three months of the year, when some non-essential stores were closed.

In contrast, Internet shopping surged 55% in the previous quarter, CBS figures show.

The overall increase is due to grocery stores,

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Shoe Carnival to Report Second Quarter Financial Results on September 1, 2020

by  on  in Shoe Store

EVANSVILLE, Ind.–()–Shoe Carnival, Inc. (Nasdaq: SCVL) (the “Company”), a leading retailer of moderately priced footwear and accessories, today announced second quarter 2020 earnings results will be released on Tuesday, September 1, 2020, after the market close. The Company will host its quarterly conference call to discuss second quarter 2020 results at 4:30 p.m. Eastern Time.

The earnings call will be webcast and can be accessed at the Investors section of Shoe Carnival’s website at www.shoecarnival.com. The online replay of the conference call will be available shortly after the call and will be available for one year.

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Victoria’s Secret is closing a quarter of its stores

by  on  in Mall
L Brands (LB), which owns the company, said the 250 store closures might just be the start: It warned it could close more stores over the next few years. There are approximately 1,100 Victoria’s Secret locations in North America.

Chief Financial Officer Stuart Burgdoerfer said in an earnings call Thursday that it was a “very significant decision” that is intended to “strengthen” Victoria’s Secret. L Brands previously had an agreement with private equity firm Sycamore Partners to take the retailer private, but the firm decided to pull out of the agreement in early May citing temporary store

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