Lizabeth Dunn
Lizabeth Dunn
cents decline due earnings expect jeans jones last management percent polo provide quarter reflect report revenue sale total versus
We expect Jones to report total revenue of $1.15 billion, a decline of 14.4 percent versus last year, and earnings of 47 cents per share. Management did not provide quarterly guidance, and this quarter will reflect a decline in revenue due to the sale of Polo Jeans Company.
below bite currency europe sales took
Sales decelerated in Europe and Asia, futures excluding currency were below expectations, and currency took a big bite out of futures.
both business continued exhibit margin polo retail sales strength tremendous wholesale
Polo continued to exhibit tremendous momentum. The strength in the business was broad, with wholesale and retail both outperforming our sales and margin expectations.
bears grasp onto quarter
We think the quarter had more for the bears to grasp onto than the bulls.
apparel believe brand expect major mostly problems
We see major headwinds for Kellwood, more than any other apparel company. We believe its problems are mostly brand and distribution problems, and we don't expect these problems to reverse.
bad deal dominant given goal increasing looks major margin market news pass retail rivalry share stated
The deal makes sense to us at first pass given Adidas' stated goal of increasing market share in the U.S. and its rivalry with Nike. On the margin this looks like bad news for Nike, which has dominant share in major retail accounts.