- Prachi Singh |
RTW Retailwinds, Inc. has said that following poor holiday sales, it now expects comparable store sales for the fourth quarter to be down 8 percent to 10 percent, as compared to the same period last year. The operating loss for the quarter is now expected to reflect a loss in the low to mid 20 million dollars.
Commenting on the holiday trading, Gregory Scott, RTW Retailwinds CEO, said in a statement: “Growth in our core digital brand, celebrity brands and another double-digit comp increase for our Fashion to Figure business driven by ecommerce were not enough to offset disappointing holiday sales resulting from significant declines in store traffic which led to increased promotional activity.”
The company continues to expect inventory to be down in the mid-single-digit percentage range as we enter the spring season.
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