Executive

TJX posts net loss of 887 million dollars

8 days ago   |   By Fashion United

The TJX Companies, Inc. has reported net sales for the first quarter of 4.4 billion dollars, while net loss reached 887 million dollars and loss per share was 74 cents. The company said in a statement that its first quarter results were negatively impacted by the temporary closure of its stores for approximately half of the quarter due to the Covid-19 pandemic and as a result, it reported a substantial pre-tax loss versus an original expectation of significant pre-tax income.
Commenting on the trading update, Ernie Herrman, Chief Executive Officer and President of The TJX Companies, Inc...
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Macy's estimates first quarter loss to reach 1.1 billion dollars

8 days ago   |   By Fashion United

In a preliminary report, Macy's, Inc. said estimated first quarter net sales may range between 3,000 to 3,030 million dollars compared to 5,504 million dollars in the same quarter last year, while the company estimates reporting operating loss in the range of 905 million dollars to 1,110 million dollars.
“This is a challenging time for the country, for retail and for Macy's, Inc. Covid-19 has impacted the lives of many of our colleagues and customers. We closed all of our stores - Macy's, Bloomingdale's and Bluemercury - on March 18, which had a significant impact on our first quarter...
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Cato reports Q1 loss, sales decline by 57 percent

8 days ago   |   By Fashion United

The Cato Corporation has reported net loss of 28.4 million dollars or 1.19 dollars per diluted share for the first quarter compared to net income of 21.3 million dollars or 87 cents per diluted share for the same quarter ended May 4, 2019. The company said in a statement that sales for the quarter were 98.8 million dollars or a decrease of 57 percent, while same-store sales for the quarter decreased 56 percent to last year.
“Cato closed its stores on March 19, along with most non-essential retailers. We were able to reopen approximately 700 of our 1,300 stores May 1 and hope to have the...
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