Macy’s (USA) lowered its Q4 guidance forecasting sales to come in at the low to middle point of its previous estimate of between $8.2 billion and $8.4 billion.

• The retailer pointed to a tightening of consumer spending and high levels of credit card debt, along with price increase as core challenges.

Sosandar (UK)  reported a record quarter of sales as women snapped up suits and dresses in the run-up to Christmas. In the last three months of the year Sosandar’s sales hit £11.6 million ($14.2 million), a 30% jump from a year earlier. The firm did not disclose its profits but said it was in the black for the fifth quarter in a row.

• Its average order was worth £106.37 ($129), an 11%  jump in a year as women opted for pricier items such as outerwear, suits and party dresses.
• It is forecast to be one of the UK’s fastest growing brands.

JD Sports (UK) said its annual profits are set to come in towards the top end of expectations. Sales for the last 6 weeks of 2022 rose 20% year-on-year, while sales from August through December rose 10%. 

• Pre-tax earnings for the year ending 28 January are now anticipated to be near the high point of the current consensus range, which is between £933 million and £985 million ($1141 million to $1204 million).
• For 2023, pre-tax profits are forecast to exceed £1 billion.

Bed Bath & Beyond (USA) reported Q3 net sales fell 33% year-on-year to $1.3 billion. Operating loss rose 423% from last year, while net loss grew 42.2% to $393 million.

• A turnaround strategy announced at the start of Q3 was thwarted by inventory constraints.
• The company continues to warn that a bankruptcy filing is likely.

Looking ahead … Lululemon warned that results for the quarter ending January 29 might not be quite as good as previous quarters.   Abercrombie & Fitch has raised its sales forecast for Q4 2022.