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Lululemon Leaps in Q1, Vince Narrows Loss

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Lululemon Athletica

Lululemon Athletica

Despite Chip Wilson’s claim that Lululemon Athletica (LULU) has lost its way, the athleisure brand posted a 3 percent increase in sales at stores open more than a year in the quarter ended May 1, while direct-to-consumer revenue rose 17 percent to $97.6 million. Net revenue also increased 17 percent, from $423.5 million to $495.5 million, and the brand opened 11 new stores during the quarter. However, profits fell from $47.8 million, or $0.34 diluted earnings per share, to $45.3 million, or $0.33.

Oxford Industries

Print-happy Lilly Pulitzer was the only bright spot for Oxford Industries (OXM) in the first quarter of fiscal 2016, generating a 1 percent increase in comparable store sales and a 10 percent increase in net sales to $64.7 million. The company reported a decrease in consolidated net sales, down from $260.4 million to $256.2 million, while earnings from continuing operations were $1.26 per share, compared to $1.30 in the year-ago period. Comps declined 13 percent at Tommy Bahama and net sales were down 6 percent to $162.7 million. Lanier Apparel, which makes men’s tailored clothing, posted a decrease in net sales, too, from $28 million to $26.6 million.

Vince Holding Corp.

Contemporary apparel brand Vince (VNCE) reported a mixed bag of results Tuesday. Though net sales increased 13 percent from $59.8 million to $67.6 million in the first quarter, with wholesale and direct-to-consumer revenue rising 16.9% and 6.1% respectively, comps decreased 12.3%, including e-commerce sales. At the same time, however, the company narrowed its net loss from $2.5 million to $1.9 million.

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