Jeffrey Gennette – Macy’s, Inc. We know that these trends are secular “these are unusual and challenging times for retail, especially for mall-based department stores. And we certainly know that these changes that we’re seeing are secular and not cyclical. … Continued
Karen M. Hoguet – Macy’s, Inc. Sales down 4% ” Sales were $8.515 billion, down 4% from last year. On an owned plus licensed comp basis, sales were down 2.1%, which was at the low end of our expectations when … Continued
Macy’s (M) Q3 2016 Results Karen M. Hoguet – Macy’s, Inc. Fashion watch trend did improve “It’s actually was encouraging that our fashion watch trend did improve, as our expanded tech watch assortment hit our stores and websites late in … Continued
Macy’s (M) Q2 2016 Results – Earnings Call Transcript Karen M. Hoguet – Chief Financial Officer Sales down 4% but better than 1Q comp Sales in the second quarter were $5.866 billion, down 4% from last year. On a comp … Continued
Karen M. Hoguet – Chief Financial Officer 5.6% negative comp “Sales in the first quarter were $5.771 billion or 7.4% below last year due both to the stores that we’ve closed in 2015 and the decline in comp sales. While … Continued
Karen M. Hoguet – Chief Financial Officer Decline in tourist sales did not lessen “Unfortunately, the decline in international tourist sales did not lessen during the fourth quarter and hurt our comp performance by approximately one point. This was less … Continued
El Pollo’s (LOCO) CEO Steve Sather on Q3 2015 Results We’ve seen reduced visits from some of our more price conscious consumers “it was reduced the visits from some of our more price conscious consumers.” It’s going to take some … Continued
Retail industry is going through a tough period “We believe that the retail industry is going through a tough period that we seem to experience something like this every five years to seven years or so, and this one feels … Continued
Andrew Sohn, a junior at Columbia University, has started to contribute to Avondale’s company notes database. Below are quotes from some of the calls that Andrew has read this week. KORS Cannibalization of mall traffic “In North America, … Continued
Four factors contributed to sales weakness including weak tourist business, slow growth in core categories and challenges with the consumer We would highlight the following four major factors in no particular order that contributed to our sales weakness in the … Continued