Jones Group beats Street as net income soars in Q3
New York – The Jones Group Inc’s net income rose a better-than-expected 67% in the third quarter, increasing to $28.3 million from $17.8 million.
However, revenues in the quarter ended Oct. 5 fell about 1%, to $1.02 billion from $1.03 billion.
The retailer credited several declines in internal expenses compared to the same period last year as helping drive its strong growth in net income. The cost of goods sold declined 1% to $662.4 million from $670.8 million. Selling, general and administrative expenses dropped 2% to $296.5 million from $301.9 million. Costs and charges were $12 million, two-thirds less than $35 million a year earlier.
"Third quarter revenues were in line with our expectations, with the jeanswear segment again registering the largest improvement in operating results, as those product lines continue to perform well,” said Wesley R. Card, CEO of Jones Group. “The domestic retail, international wholesale and international retail segments also showed improved operating results, led by the Nine West Outlet and Stuart Weitzman domestic retail businesses and the Jones New York businesses in Canada and Spain. Our new and refocused sportswear product offerings for fall are performing significantly better, and we anticipate that trend will continue."
Lifestyle/Trimco/Viaggio merges with Almax to form Global Visual Group
Brooklyn, N.Y. — Lifestyle/Trimco/Viaggio, the Brooklyn, N.Y.-based manufacturer of mannequins, forms, specialty fixtures, fabric applications, seasonal trim and holiday décor, has merged with Almax, the world-renowned mannequin company based in Italy.
The new company, Global Visual Group, will make its debut at A.R.E.’s Retail Design Collective, which will be in New York City, December 4-6, 2013.
“Global Visual Group changes the entire visual merchandising landscape,” said Richard Stolls, chairman. “Wherever a retailer may be, and whatever their needs, Global Visual Group can fulfill them. No longer will they need to rely on numerous vendors with limited capability, capacity or geographic reach.”
Global Visual Group will have headquarters in Brooklyn, N.Y., Milan and Shanghai, with showrooms in New York, Paris, Milan, Shanghai and Toronto. Factories in Brooklyn, Milan and Shanghai provide a combined manufacturing capacity of 300,000 sq. ft.
More than 300 employees worldwide will fulfill the needs of the world’s leading retailers, including Hugo Boss, Dillard’s, Verizon Wireless, Brooks Brothers, Burberry, Aeropostale, Macy’s, Sears, Bloomingdales and many more.
Global Visual Group’s mannequin collection includes a wide selection of options — from Almax’s unbreakable, eco-friendly Polystyrene designs to Lifestyle’s fiberglass mannequins, Poly-Eco mannequins and paper mache upholstered forms.
Retail clients of both organizations will continue to work with their current sales representatives, who will now be able to offer a full portfolio of visual merchandising products and solutions.
“Finally, retailers can now consolidate their visual merchandising vendor base,” said Ken Stolls, president. “With Global Visual Group, they will have a single point of contact for global distribution and be able to leverage their visual budgets in a more meaningful way.”
RadioShack opens new concept stores in Detroit, Philadelphia
Fort Worth, Texas – RadioShack Corp. has opened a new concept store in Detroit, and another in Philadelphia. All new concept stores in the company’s portfolio feature an upgraded shopping experience, which showcases the company’s new look, and incorporates interactive areas designed to help shoppers improve their technology profile.
Some features include a speaker wall where customers can shop and compare 13 different speakers using music installed on in-store tablets or played from their own Bluetooth-enabled mobile devices, interactive displays that enable shoppers to find and compare products, touch-screens and apps that help shoppers understand the benefits of products, newly configured displays highlighting in-demand brands, and a do-it-yourself area where consumers can plan projects.
RadioShack is opening a select number of these highly experiential stores in neighborhoods throughout the nation. By the end of 2013, RadioShack will have more than 100 concept and brand statement stores open and will have made improvements to nearly all 4,300 stores throughout the nation.