Olsen twins launch exclusive line for JCPenney
PLANO, Texas JCPenney has launched a new line from Mary-Kate and Ashley Olsen. The exclusive new line, Olsenboye, will be available for a limited time on jcp.com and in select JCPenney stores beginning Nov. 6, with a full launch set for spring 2010.
“Our juniors customers have grown up with Mary-Kate and Ashley and look to them not only as authentic designers, but also as style icons,” said Liz Sweney, EVP and general merchandise manager of women’s apparel at JCPenney. “The launch of Olsenboye brings aspiration and sophistication to our juniors department, while underscoring our commitment to continue to step up our style and offer our younger customers new, fashion-forward merchandise at affordable prices.”
The Olsebboye collection draws inspiration from different cities around the world and includes denim, bottoms, tops, dresses and shoes ranging in price from $20 to $50.
To help promote the new line, an Olsenboye “mobile shop” will drive around New York City offering consumers a chance to experience the brand and purchase merchandise before the launch.
Dollar Tree reports increase in Q3, raises outlook
CHESAPEAKE, Va Dollar Tree reported increase in sales and earnings during third quarter ended Oct. 31 and raises outlook.
The company reported earnings per diluted share of 76 cents, for third quarter ended Oct. 31, an increase of 61.7% compared with the 47 cents earnings per diluted share reported for quarter ended Nov. 1 the prior year. Consolidated net sales for third quarter were $1.25 billion, a 12.1% increase compared with $1.11 billion reported for quarter ended Nov. 1 the prior year. Comparable-store sales increased 6.5% for the quarter.
The company estimates sales for fourth quarter of 2009 to be in the range of $1.49 – $1.53 billion, based on low-to-mid single digit positive comparable-store sales. Diluted earnings per share are estimated to be in the range of $1.30 to $1.39.
Full year sales are now estimated to be in the range of $5.17 – $5.21 billion and diluted earnings per share are expected to be $3.34 – $3.43.
Amazon.com 3Q income soars on Kindle success
SEATTLE Amazon.com’s sales and income soared in the third quarter, thanks in large part to the success of the Kindle e-reader.
Amazon.com reported that net sales increased 28% to $5.45 billion in the third quarter, compared with $4.26 billion in third quarter 2008.
Net income increased 68% to $199 million in the third quarter, or 45 cents per diluted share, compared with net income of $118 million, or 27 cents per diluted share, in third quarter 2008.
“Kindle has become the #1 bestselling item by both unit sales and dollars – not just in our electronics store but across all product categories on Amazon.com. It’s also the most wished for and the most gifted. We are grateful for and energized by this customer response,” said Jeff Bezos, founder and CEO of Amazon.com. “Earlier this week we began shipping the latest generation Kindle. Its 3G wireless works in the United States and 100 countries, and we’ve just lowered its price to $259.”
Fourth-quarter net sales are expected to be between $8.125 billion and $9.125 billion, or to grow between 21% and 36% compared with fourth quarter 2008.