HR Quarterly Round-Up: Tiffany & Co., Movado, J.Crew

J.Crew Ballet Flats

(Photo: J.Crew.com)

Tiffany 1Q Profit More Than Doubles As Demand Rebounds (WSJ): Tiffany & Co.'s first-quarter earnings more than doubled on demand across most of its markets and product lines, a sign that higher-end and even mainstream consumers are feeling better about buying.

Movado's Q1 Beats Street, To Close Retail Boutique Unit (Reuters): Movado Group Inc posted a narrower-than-expected quarterly loss, helped by a recovery in consumer demand, and said it will close its retail boutique unit, which is expected to hurt the watchmaker's 2010 revenue by $30 million.

J. Crew doubles 1Q net income, raises guidance (AP): Catalog retailer J. Crew Group Inc. doubled its first-quarter net income as revenue soared nearly 20 percent and raised its guidance for the year above estimates.

HR Quarterly Round-Up: Gap, Ann Taylor, Polo, Aeropostale

Gap Inc. Earnings Rise 40% (LA Times): Apparel company Gap Inc. reported robust first-quarter profit Thursday and said sales grew across all of its brands.

Ann Taylor Stores Posts 1Q Net Income (Crain's New York): Ann Taylor Stores Corp. returned to profitability in its fiscal first quarter, helped by strong performances at both its namesake and Ann Taylor Loft stores and more full-price purchases.

Polo Ralph Lauren Profit More Than Doubles (Reuters): Polo Ralph Lauren Corp reported a quarterly profit on Wednesday that more than doubled, as strong sales at its retail stores helped offset a decline in wholesale revenue

Aeropostale 1Q Profit Up 43% (Businessweek): Teen clothing retailer Aeropostale Inc. said Thursday that its net income rose 43 percent as revenue grew and online sales surged.

HR Quarterly Round-Up: Abercrombie & Fitch, Saks, Limited Brands

Abercrombie & Fitch Narrows F1Q Loss, Expanding Abroad (WSJ): Abercrombie & Fitch Co.'s (ANF) fiscal first-quarter loss narrowed, and the high-priced teen-apparel retailer outlined further plans to expand its presence overseas.

Saks Profit Surpasses Projections on Fewer Markdowns (Businessweek): Saks Inc., the New York-based luxury retail chain, reported first-quarter earnings that beat analysts’ estimates after marking down fewer goods.

Limited Brands Beats Street, Outlook Disappoints (Reuters): Limited Brands Inc., the operator of the Victoria's Secret and Bath & Body Works chains, posted better-than-expected quarterly net income on Wednesday, but the midpoint of a profit outlook fell short of expectations, sending the company's shares down 5 percent.

Estee Lauder Buys Smashbox Cosmetics

The Estée Lauder Companies adds another prestige cosmetics brand to its portfolio with the acquisition of Smashbox Cosmetics Beauty, Inc., the makeup company founded in 1996 by Dean and Davis Factor (left), great-grandsons of the legendary makeup artist, Max Factor, in an effort to provide products for makeup artists on professional photo shoots.

EL Cos. announced their definitive agreement with the L.A. based company on Monday, saying that the deal will close in July and will add to earnings in 2011, minus transaction and integration costs. The purchase price is unknown, however sources told WWD that the price tag was between $200M and $300M. The deal also includes a minority stake in Smashbox Studios, the Los Angeles facility started by the Factors in 1991.

With EL's strategic priorities focused on skin care and Asia, Smashbox doesn't fit the bill of a desirable acquisition. However, the makeup brand has a strong presence in open-sell environments and is a well known brand in specialty channels, such as QVC and Sephora, allowing EL to have a stronger presence in alternative retail channels. Smashbox also has expertise in digital and social media, which will help Estee Lauder to expand and reach new and younger customers. In exchange, Smashbox will be able to expand globally via EL's international experience.

HR Quarterly Round-Up: Bulgari, Macy's, Nordstrom

A yellow gold, diamond, pearl and emerald necklace from the Bvlgari Heritage Collection

(Photo: Catherine Bigelow/SFGate.com)

Bulgari Loss Narrows on Sales of Necklaces, Perfume (Businessweek): Bulgari SpA, the world’s third- largest jeweler, reported a narrower first-quarter loss on rising sales of necklaces and perfume.

Macy's Swings to Profit, Aided By Move to Meet Local Demand (MarketWatch): Department-store operator Macy's Inc. on Wednesday said it swung to a better-than-expected $23 million first-quarter profit, helped by its strategy to tailor stock to local demand.
 
Nordstrom 1st-Qtr Net Rises, But Misses Street view (Reuters): Nordstrom Inc (JWN.N) said its first-quarter net profit rose 43 percent over last year, but it missed analysts' forecasts and shares fell after hours.