Women's Wear Daily

Kohl’s Reports Strong Quarter

Kohl’s Corp., seeing strength across both store and digital channels, reported a 40 percent gain in net income to $292 million for the second quarter compared with $208 million in the year-ago period. Total revenues rose 4 percent during the quarter ended Aug.4 to $4.57 billion from $4.4 billion a year ago. Comparable sales gained 3.1 percent. ”We saw strength across the business — both our store and digital channels, all regions of the country and our proprietary and national brands,” said Michelle Gas, chief executive officer. Men’s and women’s apparel businesses led the company followed closely by footwear, Gass said. Due to the solid performance, the company now expects its fiscal 2918 diluted earnings per share to be $4.96 to $5.36, compared to previous guidance of $4.86 to $5.31. Kohl’s results are consistent with those of several major retailers including Nordstrom and Walmart which last week also reported healthy second quarter results.

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Authentic Brands Adds Daniel Dienst to C-suite

Authentic Brands Group has appointed Daniel Dienst its executive vice chairman and chief strategy officer. In his new role at ABG, Dienst will help shape the brand management firm’s long-term strategy, lead the company’s global business development and have oversight for the focus on media and digital strategy, as well as work closely with the firm’s chairman and chief executive officer Jamie Salter and the mergers and acquisitions team. The position of executive vice chairman is a new one for ABG. The company at one point had a chief strategy officer, but the role then was different in function from the one Dienst has taken on. Salter said, “Dan brings a compelling vision and powerful skill-set to our team. I look forward to working with him to strengthen and scale our organization.” Nick Woodhouse, ABG’s president and chief marketing officer, said he was impressed by Dienst’s passion and approach to business and leadership. Dienst said, “I’m thrilled to join ABG, an organization that is committed to building long-term value and driving innovation across all touchpoints and platforms.” Dienst’s most recent executive position at a public company was as chairman and ceo of Martha Stewart Living Omnimedia Inc., which was eventually sold in 2016 to Sequential Brands

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Macy’s ‘Watch-Drop’ a Play on Exclusivity

Macy’s has a “watchful” eye on innovation. The retailer launches its first “watch drop” on Sept. 5, with limited-edition timepieces, either re-issued or updated, as well as some vintage and retro styles to be introduced each Wednesday from Sept. 5 to Oct. 24 and on Nov. 14 and Nov. 21. It’s an effort to capitalize on one of Macy’s Inc.’s better-performing categories and the nation’s growing cadre of watch collectors, and add exclusivity to the assortment. One to four men’s timepieces per Wednesday  — 15 stockkeeping units in total  — will be dropped and Macy’s web page will preview the event starting a week before the first drop. “We anticipate we will sell out fairly quickly,” said Stephen Moore, Macy’s executive vice president and general business manager of center core. “These are limited editions, created or reissued specifically for Macy’s. Most are being introduced to the U.S. for the very first time. “What we love most about them is that they have interesting stories behind them. One watch is inspired by what was issued to the British Air Force in World War II. It’s by Longines. It has clean lines, a retro look and a beautiful strap.” From Macy’s “watch-drop.”  studio1 Tag Heuer, Movado, Rado, Hamilton, Tissot,

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