U.S. Department stores are back in fashion showing strong Q1 financial results. Brands and discounters are suddenly facing a tougher market


“We saw a notable shift back to occasion-based apparel and in-store shopping, as well as continued strength in sales of luxury goods.” – Jeff Gennette, chairman and CEO, Macy’s.


Nordstrom (USA) reported net earnings reached USD 20 million for the quarter ended April 30, compared to a loss of USD 166 million a year ago.

  • Net sales rose 18.7 % to USD 3.47 billion, exceeding pre-pandemic levels.
  • Nordstrom banner net sales increased 23.5 %, Nordstrom Rack net sales rose 10.3%.
  • The retailer raised its annual forecast for sales growth to 6 % to 8 %, up from its previous target of 5 % to 7 %.


Macy’s (USA) reported Q1 net income increased 177 % to USD 286 million, from USD 103 million a year ago.

  • Revenue increased nearly 14 %to USD 5.35 billion.
  • Dresses, women’s shoes, accessories and men’s tailored apparel showed strong sales.


Abercrombie & Fitch (USA) posted a net loss of USD 16.5 million for the quarter ended May 1, compared to net income of USD 41.8 million a year ago.

  • Sales rose 4 % to USD 812.8 million from USD 781.4 million, beating analysts’ estimates.
  • For Q2 the company expects a low single-digit sales decline. For the full year the retailer expects sales to be flat to up 2 %.

Ralph Lauren (USA) reported Q4 profit reached USD 24.4 million compared with USD 74.1 million a year ago.

  • Sales in Q4 rose 18 % to USD 1.5 billion.
  • Full year profit reached USD 600.1 million, on revenue of USD 6.22 billion.


The Children’s Place (USA) reported Q1 net sales fell 17 % to USD 362.4 million. Net sales were down 12.1 % compared with Q1 2019.

  • Net income fell 44 % to USD 19.8 million
  • The company is now forecasting a mid-single digit decline in sales for 2022.


Footlocker (USA) reported Q1 net income fell 32 % year-on-year to USD 133 million.

  • Total sales increased 1 % to USD 2.17 billion, however same-stores sales fell 1.9 %.


Chanel (France) posted record sales of USD 15.6 billion for the year to the end of December 2021. Operating profit hit a record USD 5.5bn, more than double a year ago, and up 58 % from 2019.

  • US sales were up nearly 80 % year-on-year to USD 3.5 billion.


Next (UK) will remain ‘resilient’ despite pressure on costs and the consumer, according to S&P Global analysts.


Boohoo (UK) is working on a pre-pack rescue deal to buy Missguided, its financially stricken rival.

Dollar Tree(USA) reported Q1 net income increased 43.2 %to USD 536.4 million.

  • Net sales rose 6.5% to USD 6.9 billion, topping estimates of USD 6.76 billion.
  • Dollar Tree also completed its conversion to the USD 1.25 price point (previously USD 1.00).