Foot Locker profit soars in Q2
New York City — Foot Locker reported Thursday that net income in the second quarter was $37 million, compared with $6 million in the year earlier period.
Sales surged 16.3% to $1.3 billion this year, and same-store sales increased 11.8%.
Finally some good news after
Wet Seal profit edges up in Q2
Foothill Ranch, Calif. — The Wet Seal reported Thursday that net income for the quarter ended July 30 rose to $2.2 million from $1.6 million.
Sales rose to $148.8 million, compared with $131.5 million a year earlier. Same-store sales increased 6%, the strongest second-quarter comps since 2005, according to the company.
Looking ahead, Wet Seal said it plans to spend $17 million to $18 million in fiscal 2011 on construction of new stores or remodeling of existing stores upon lease renewals and/or store relocations.
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New president named at True Religion
VERNON, Calif. — True Religion Apparel has announced that Lynne Koplin has been named president of the company effective immediately.
Koplin joined the company in January 2010 as COO. Prior to joining the company, and since July 2005, she was the president women’s division, of Tommy Bahama, a subsidiary of Oxford Industries, and before that worked for a number of apparel and retail companies.
“Lynne has made significant contributions to the improvements in our business over the past 18 months,” stated Jeffrey Lubell, chairman, CEO and chief merchant of True Religion Apparel Inc. “We are pleased to announce her appointment as President, a role in which she will have an even greater influence on the direction and success of our business,” he added.
Koplin succeeds Mike Egeck, who has resigned from the company to pursue other opportunities.
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