By Christiana Sciaudone
Investing.com — Retailers are reveling in their rocking results.
Five Below (NASDAQ:) and PVH (NYSE:), which sells Tommy Hilfiger and Calvin Klein brands, put analyst estimates to shame for the quarter. PVH reported earnings per share of 13 cents compared to the estimated loss per share of $2.52, while Five Below published earnings per share of 50 cents compared to the expected 14 cents.
Five Below shares bounced 7.4%, PVH rose 5.5%, and Macy’s (NYSE:) popped 11%, while Coty (NYSE:) was up 5.5%.
Both Five Below and PVH said the current quarter is showing potential.
“The third quarter is off to a strong start and we are focused on the all-important holiday season,” said Five Below Chief Executive Officer Joel Anderson in a statement.
PVH Chief Executive Officer Emmanuel Chirico noted the trend toward lounge-friendly clothing, and the return of the all important Chinese market.
“We continue to see outperformance in our digital businesses and across our comfort and casual assortments. As we head into the third quarter, trends in China and Europe continue to be very encouraging,” Chirico said in an earnings statement.
Macy’s on Wednesday reported profit and sales that beat expectations, with upscale brand Bloomingdale’s sparkling the brightest.
“From textile to shoes, to handbags, to mattresses, to diamonds, luxury proved to be strong across almost every category of the Bloomingdale’s business, significantly growing its penetration of the business year-over-year. Given our strength in this area, we are leaning harder into luxury in order to capitalize on the shift in spending,” said Felicia Williams (NYSE:), interim chief financial officer at Macy’s, in an earnings call yesterday.
While Coty reported dismal earnings on Aug. 27, the fragrance and makeup company did announce its new chief executive officer, Sue Nabi, officially took over on Wednesday. Nabi previously headed up L’Oréal Paris and founded the vegan skincare brand Orveda.
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