Core Insights - Abercrombie & Fitch Co reported strong second-quarter earnings of $2.32 per share on revenue of $1.21 billion, surpassing estimates of $2.30 per share and $1.20 billion in revenue, despite a decline in comparable sales by 11% [1] - The company raised its full-year outlook, indicating resilience against $90 million in tariff costs [1] Stock Performance - Abercrombie & Fitch stock increased by 1.6% to $98.20, recovering from earlier negative territory, supported by the 80-day moving average [2] - Year-to-date, the stock is down 34.3%, although it has been climbing since reaching a 52-week low of $65.40 on April 8 [2] Options Activity - In the options market, 14,000 calls and 15,000 puts have been traded today, which is 2.1 times the average daily options volume [3] - The most popular options contracts include the weekly 8/29 82-strike put and the September 95 call, with new positions opening in both [3] Short Interest - Abercrombie & Fitch has significant short squeeze potential, with short interest accounting for 14.6% of the available float [4] - It would take nearly three days for short positions to be fully covered at the average trading pace [4]

Goods valued under $800 were permitted to enter the US duty-free under the so-called dimminimous exemption. That rule will end on August 29th. So retailers knew this was going to go away.They thought it was going to be another year or two and all of a sudden it's a quick end to any of that advantage. This has been a huge kind of end of a loophole for the retail industry when we think about categories like apparel and footwear in particular and any kind of small goods that might be shipping direct to consume ...

Citi Trends (CTRN) Q2 2026 Earnings Call August 26, 2025 09:00 AM ET Company ParticipantsNitza McKee - Senior Associate - IRKenneth Seipel - CEO & Chairman of the Board of DirectorsHeather Plutino - CFO & EVPConference Call ParticipantsMichael Baker - MD & Senior Research AnalystJeremy Hamblin - Senior Research AnalystOperatorGreetings, and welcome to the Citi Trends Second Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. A question and answer se ...

Financial Data and Key Metrics Changes - In Q2 2025, Citi Trends reported sales of $190.8 million, an 8% increase compared to Q2 2024, with comparable store sales growth of 9.2%, marking the fourth consecutive quarter of mid to high single-digit comp sales growth [19][25] - The gross margin rate for Q2 was 40%, the highest since fiscal 2021, with an 890 basis point expansion year-over-year [20] - Adjusted EBITDA for the quarter was a loss of $2.6 million, but an increase of $14.6 million compared to Q2 2024 [22] Business Line Data and Key Metrics Changes - The product performance was broad-based across categories, with strong sales in women's plus and big men's apparel, as well as children's categories [10][11] - Transaction growth accounted for the majority of sales gains, with improvements in units per transaction while maintaining stable average unit retails [8][10] Market Data and Key Metrics Changes - The company experienced consistent results across climate zones, regions, and store volume deciles, indicating broad-based improvement [8][19] - Year-to-date comparable store sales growth was reported at 9.6%, with a two-year comp stack of 10.3% [23] Company Strategy and Development Direction - Citi Trends is focused on a three-phase transformation strategy: Repair, Execute, and Optimize, aimed at delivering sustainable profitable growth [5] - The company plans to remodel approximately 50 stores per year and expand square footage in the mid-single-digit range, with a goal of achieving $40 million or more in EBITDA by 2027 [29][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the turnaround plan, noting that the macroeconomic environment remains uncertain but sales momentum has continued into Q3 [25][31] - The company is navigating the changing tariff landscape successfully and is focused on maintaining flexibility and liquidity [17] Other Important Information - Total inventory dollars at quarter-end decreased by 12.9% compared to last year, with average in-store inventory down 5.7% [24] - The company has no debt and maintains a strong balance sheet with $50 million in cash [25] Q&A Session Summary Question: Discussion on expenses and incentive compensation - Management confirmed that SG&A expenses are expected to average around $78 million per quarter in the back half of the year, with a slight increase in Q4 due to holiday sales [34][35] Question: Incremental margin flow-through on sales - The goal is to achieve a 20% to 25% EBITDA flow-through on incremental sales, with expectations of around 25% in the back half of 2025 [36] Question: Insights from the new trend director - The trend director has focused on interpreting consumer voice and translating it into tangible styles and trends, leading to better product curation [37][38] Question: Sustained momentum in Q3 - Management indicated that sustained momentum is driven by refined preseason planning, thoughtful category reviews, and improved execution in stores [42][45] Question: Store remodels and new store economics - The average remodel cost is between $85,000 and $130,000, with expected sales lifts varying by market [56][59]

Financial Data and Key Metrics Changes - In Q2 2025, Citi Trends reported sales of $190.8 million, an 8% increase compared to Q2 2024, with comparable store sales growth of 9.2%, marking the fourth consecutive quarter of mid to high single-digit comp sales growth [19][25] - The gross margin rate for Q2 was 40%, the highest since fiscal 2021, with an 890 basis point expansion year-over-year [20] - Adjusted EBITDA for the quarter was a loss of $2.6 million, but an increase of $14.6 million compared to Q2 2024 [22] Business Line Data and Key Metrics Changes - The product performance was broad-based across categories, with strong sales in women's plus and big men's apparel, as well as children's categories [10][11] - Transaction growth accounted for the majority of sales gains, with improvements in units per transaction while maintaining stable average unit retails [8][10] Market Data and Key Metrics Changes - The company experienced consistent results across climate zones, regions, and store volume deciles, indicating broad-based improvement [8][19] - Year-to-date comparable store sales growth was reported at 9.6%, with a two-year comp stack of 10.3% [23] Company Strategy and Development Direction - Citi Trends is focused on a three-phase transformation strategy: Repair, Execute, and Optimize, aimed at delivering sustainable profitable growth [5] - The company plans to remodel approximately 50 stores per year and expand square footage in the mid-single-digit range, with a goal of achieving $40 million or more in EBITDA by 2027 [29][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the turnaround plan, noting that the macroeconomic environment remains uncertain but sales momentum has continued into Q3 [25][31] - The company expects full-year comparable store sales growth to be in the mid to high single digits, an increase from previous guidance [26] Other Important Information - The company sold a 72,000 square foot building in Savannah, Georgia, realizing a gain of approximately $11 million [22] - Total inventory dollars at quarter-end decreased by 12.9% compared to last year, reflecting improved inventory efficiency [24] Q&A Session Summary Question: Discussion on expenses and incentive compensation - Management confirmed that SG&A expenses are expected to average around $78 million per quarter in the back half of the year, with a slight increase in Q4 due to holiday sales [34][35] Question: Incremental margin flow-through on sales - The goal is to achieve a 20% to 25% EBITDA flow-through on incremental sales, with expectations of around 25% in the back half of 2025 [36] Question: Insights from the new trend director - The trend director has focused on interpreting consumer preferences and translating them into tangible styles, leading to improved product curation [38][39] Question: Sustained momentum in Q3 - Management indicated that sustained momentum is driven by refined preseason planning, better execution, and a more curated product assortment [42][45] Question: Store remodels and new store economics - The average remodel cost is between $85,000 and $130,000, with expected sales lifts varying by market [56][59]

22 Aug 2025 01:49:04 ET │ 13 pages Li Ning (2331.HK) Downbeat 2H outlook with worse-than-expected 3Q performance; 25E full-year guidance maintained CITI'S TAKE Compared to market's excitement on its 1H results beat, mgt is downbeat on 2H outlook and have repeatedly cautioned worse-than-expected retail performance in July-Aug (incl. YoY enlarged retail discount in Aug vs July, sequentially worsened offline traffic in July-Aug vs 2Q, mounting GPM pressure in 2H vs 1H). Mgt expect its selling expenses to "subs ...

How An Upstart Apparel Brand Lured Jack Draper Away From Tennis Juggernaut Nike https://t.co/ExgjE9DnXw (Photo: Vuori) https://t.co/EAuJccFR2S ...

How An Upstart Apparel Brand Lured Jack Draper Away From Tennis Juggernaut Nike https://t.co/VlyMoFqUeW (Photo: Vuori) https://t.co/rFqnC8vXY2 ...

Financial Data and Key Metrics Changes - Total sales for the second quarter grew 5% to $5.5 billion, up from $5.3 billion last year, with comparable store sales up 2% [5] - Earnings per share for the second quarter were $1.56 on net income of $508 million, compared to $1.59 per share on net earnings of $527 million in the prior year [5] - Operating margin decreased 95 basis points to 11.5%, primarily due to tariff-related costs [12] Business Line Data and Key Metrics Changes - Cosmetics was the best-performing merchandise area in the second quarter [6] - The ladies' business showed positive comp growth, outperforming the chain average [26] - Overall comparable store sales at BB's Discounts were solid and ahead of Ross, with growth in both traffic and basket size [7] Market Data and Key Metrics Changes - The strongest markets were the Southeast and the Midwest [6] - New store openings included 28 new Ross locations and three dd's Discount locations, with a total of approximately 90 new locations planned for the year [8] Company Strategy and Development Direction - The company is focused on maintaining its value proposition relative to traditional retailers while balancing the opportunity to preserve merchandise margin [10] - The strategy includes expanding the portion of the business driven by closeouts to mitigate tariff impacts [9] - The company plans to open approximately 90 new locations this year, with a focus on new and existing markets [8] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the sales outlook for the remainder of the year, with comparable store sales growth projected at 2% to 3% for the third and fourth quarters [14] - The company anticipates modest pressure from tariffs in the third quarter, which is expected to be mitigated in the fourth quarter [10] - Management noted that pricing across the retail industry is beginning to rise, and they are focused on delivering high-quality branded merchandise at compelling price points [10] Other Important Information - The company repurchased 1.9 million shares of common stock for an aggregate cost of $262 million, remaining on track to buy back a total of $1.05 billion in stock for the year [13] - Management acknowledged the retirement of CFO Adam Orvis and expressed gratitude for his contributions [19] Q&A Session Summary Question: Can you elaborate on the sequential top line improvement and the rebound in July? - Management noted broad-based sequential improvement across nearly all merchandise categories, with strong performance in July, particularly in cosmetics and ladies' business [25][26] Question: What are the gross margin drivers for the third and fourth quarters? - Management indicated that tariff costs would continue to impact gross margins, but they expect the pressure to be slightly lower than in Q2 [29] Question: How is the customer responding to price increases? - Management stated that there has been a very modest change in prices, and they will be cautious about significant changes in average unit retail (AUR) [35] Question: What initiatives are being implemented to improve store operations? - Management highlighted store refreshes, self-checkout pilots, and new marketing campaigns as key initiatives to enhance customer experience and drive sales [41][46] Question: Are there any changes in consumer demographics or trade down activity? - Management reported no significant changes in income cohorts but noted a strong response from stores with high concentrations of Hispanic customers [60] Question: What actions are being taken to mitigate tariff impacts? - Management emphasized efforts in vendor negotiations, diversifying sourcing, and increasing closeout merchandise to offset tariff pressures [66][68] Question: What is the outlook for new store openings and associated costs? - Management expressed optimism about new store openings, particularly in Puerto Rico and the New York Metro area, with strong customer responses [98]

Company Overview - Zumiez Inc. is a leading specialty retailer focused on apparel, footwear, accessories, and hardgoods for young men and women interested in action sports, streetwear, and unique lifestyles [3] - As of August 2, 2025, Zumiez operates 731 stores globally, with 571 in the United States, 46 in Canada, 86 in Europe, and 28 in Australia [3] - The company operates under the names Zumiez, Blue Tomato, and Fast Times, and has ecommerce platforms at zumiez.com, blue-tomato.com, and fasttimes.com.au [3] Upcoming Financial Results - Zumiez Inc. will report its fiscal 2025 second quarter results on September 4, 2025, after the stock market closes [1] - A conference call to discuss the results will take place on the same day at 5:00 p.m. ET [1] Conference Call Details - Interested parties can pre-register for the conference call through a provided link and will receive confirmation with dial-in details [2] - The conference call will also be available via a live webcast, and a replay will be accessible for a limited time [2]