5 out of 9 vogue corporations reported a ‘Moderate’ second-quarter efficiency for 2025, whereas two corporations every discovered their efficiency categorised below ‘Strong’ and ‘Weak’. Of the 5, 4 are primarily based within the US.
The second-quarter efficiency was reported over two months – August and September. Though some corporations reported half-year efficiency too, the categorisation is strictly primarily based on Q2 efficiency solely.
In Q2 2025, 5 of 9 vogue corporations reported ‘average’ efficiency, two had been ‘sturdy’, and two ‘weak’.
Brazilian model Arezzo and US retailer Burlington led development with larger gross sales and earnings, whereas Dillard’s, Ross, Kohl’s, Ludwig Beck, and American Eagle confirmed combined outcomes.
Delta Galil and Macy’s lagged amid margin pressures and weak gross sales.
Sturdy: Progress In Each Gross sales & Income
Azzas 2154 SA (Arezzo) (BVMF: ARZZ3)
The Brazilian vogue firm, which reported a powerful monetary efficiency for the second quarter (Q2) of 2025 in early August, marked one yr for the reason that creation of the Azzas 2154 Group. The reported quarter’s EBITDA reached R$535.6 million (~$100.77 million), with a margin of 18.5 per cent, representing an growth of 80 bps versus Q2 FY24.
Through the quarter, gross income from persevering with manufacturers reached R$3.6 ($0.68) billion, rising 10.3 per cent over the identical quarter final yr. Together with contributions from discontinued manufacturers, the expansion in gross income was 7.4 per cent. Division-wise, income for vogue and life-style girls delivered the best development at 20.1 per cent, adopted by vogue and life-style males at 11.5 per cent.
On a half-year foundation, gross income elevated 10.7 per cent from R$6,264.6 million (~$1,178.66 million) in Q2 FY24 to R$6,931.8 million.
Though the quarter’s gross margin dropped from 56.1 per cent final yr to 55.9 per cent this yr, the gross revenue in worth phrases improved from R$1,554.8 million to R$1,620.5 million. The rise of 81.7 per cent in web earnings was additionally sturdy.
Half-year web earnings elevated from R$257.9 million to R$655.5 million.
As of the second quarter of 2025, the Belo Horizonte-headquartered firm runs 2,061 shops spanning an space of 208,452 m².
Burlington Shops, Inc (NYSE: BURL)
In late August, New Jersey-based Burlington Shops reported a ‘Strong’ second-quarter efficiency, marked by a complete gross sales enhance of 10 per cent on prime of 13 per cent final yr. Comparable retailer gross sales elevated 5 per cent on prime of 5 per cent final yr. Internet earnings stood at $94 million, and diluted EPS was $1.47, exhibiting development over web earnings of $74 million, or $1.15 per share, final yr.
NYSE-listed Burlington is a nationally recognised off-price retailer of high-quality, branded attire, footwear, equipment, and residential merchandise at on a regular basis low costs. Its second quarter ended August 2, 2025, with $1,694 million in liquidity.
For the primary six months, complete gross sales elevated 8 per cent in comparison with H1 FY24, and web earnings elevated 28 per cent to $195 million, or $3.05 per share versus $2.37 per share within the prior interval. Adjusted web earnings, excluding $12 million and $7 million, respectively, of bills (web of tax) related to bankruptcy-acquired leases, was $217 million, or $3.39 per share, versus $171 million, or $2.66 per share, final yr.
The corporate’s outlook now contains complete gross sales development within the vary of 5 to 7 per cent for the third quarter and seven to eight per cent, on prime of 11 per cent final yr, for the total fiscal 2025.
Average: Progress In Both Gross sales Or Income
Dillard’s Inc. (NYSE: DDS)
Dillard’s, Inc introduced working outcomes for the 13 (Q2) and 26 (H1) weeks ended August 2, 2025.
For Q2, comparable web gross sales had been $1.514 billion (FY25) and $1.490 billion (FY24), respectively. These gross sales figures embrace operations of the corporate’s development enterprise, CDI Contractors, LLC (CDI). Excluding CDI, complete retail gross sales had been $1.447 billion and $1.426 billion, respectively, rising 1 per cent.
Dillard’s reported web earnings for the quarter at $72.8 million, or $4.66 per share, together with a pretax acquire of $4.8 million ($3.7 million after tax or $0.24 per share) primarily associated to the sale of three properties, in comparison with $74.5 million, or $4.59 per share, in the identical quarter final yr.
Consolidated gross margin for the second quarter was 36.6 per cent of gross sales in comparison with 37.6 per cent in Q2 FY24.
For the primary halves of FY25 and FY24, web gross sales amounted to $3.043 billion and $3.039 billion, respectively.
Dillard’s is headquartered in Little Rock, Arkansas. The corporate operates 272 Dillard’s shops, together with 28 clearance centres, spanning 30 states (totalling 46.2 million sq. toes), together with an e-commerce website.
Ross Shops Inc (NASDAQ: ROST)
Ross Shops, Inc reported EPS for the 13 weeks ended August 2, 2025 (Q2 FY25) of $1.56 on web earnings of $508 million, in comparison with EPS of $1.59 on web earnings of $527 million for the 13 weeks ended August 3, 2024. Complete gross sales for the second quarter of 2025 elevated 5 per cent to $5.5 billion, up from $5.3 billion for a similar interval in 2024, with comparable retailer gross sales additionally up 2 per cent versus final yr.
A drop in web earnings regardless of a rise in gross sales meant a ‘moderate’ efficiency for the Dublin, California-based off-price retailer.
For the six months ended August 2, 2025, EPS was $3.03 on web earnings of $987 million, in comparison with EPS of $3.05 on web earnings of $1 billion in H1 FY24. Gross sales for the primary six months of 2025 grew to $10.5 billion, up from $10.1 billion within the prior yr, with comparable retailer gross sales growing 1 per cent.
For each the third and fourth quarters, comparable retailer gross sales development is anticipated to rise by 2 to three per cent. Based mostly on H1 FY25 outcomes and H2 FY25 steering, EPS for the 52 weeks ending January 31, 2026, is now projected to be within the vary of $6.08 to $6.21 versus $6.32 final yr.
Ross Shops, Inc is an S&P 500, Fortune 500, and Nasdaq 100 (ROST) firm that provides designer attire, equipment, footwear, and residential fashions.
Kohl’s Corp (NYSE: KSS)
Like Dillard’s and Ross Shops, Kohl’s Corp additionally ended the second quarter of FY25 on August 2, 2025, and introduced its ‘moderate’ efficiency on the finish of August, marked by a drop in quarterly gross sales however a rise in web earnings.
For the second quarter, web gross sales decreased 5.1 per cent y-o-y to $3.3 billion, with comparable gross sales additionally down by 4.2 per cent. Gross margin as a proportion of web gross sales was 39.9 per cent, growing by 28 foundation factors, whereas web earnings improved to $153 million, or $1.35 per diluted share, in comparison with web earnings of $66 million, or $0.59 per diluted share, within the prior yr.
On a half-year foundation, web gross sales decreased 4.6 per cent y-o-y to $6.4 billion, with comparable gross sales additionally dropping by 4 per cent. Gross margin was recorded at 39.9 per cent of gross sales—a rise of 33 foundation factors. Internet earnings for the primary half amounted to $139 million, or $1.23 per diluted share, and adjusted web earnings reached $50 million, or $0.44 per adjusted diluted share. Comparable web earnings for a similar interval final yr was $39 million, or $0.35 per diluted share.
Wisconsin-based Kohl’s is a number one omnichannel retailer that operates greater than 1,100 shops in 49 states, an e-commerce website, and the Kohl’s App.
For the total yr 2025, the corporate presently expects a lower of 5 to six per cent in web gross sales, a lower of 4 to five per cent in comparable gross sales, an adjusted working margin within the vary of two.5 to 2.7 per cent, and adjusted diluted EPS within the vary of $0.50 to $0.80.
Ludwig Beck am Rathauseck (ETR: ECK)
In response to Ludwig Beck’s consolidated interim report for 2025, the corporate generated product sales of €37.8 million (~$44.37 million) within the first half of FY25, in comparison with €37.2 million (~$43.67 million) final yr, representing a rise of 1.5 per cent. Gross sales within the ‘textile’ section elevated from €28.3 million within the earlier yr to €29 million. The Ludwig Beck on-line store additionally developed positively, recording a 5.4 per cent enhance in gross sales in comparison with the earlier yr.
Gross revenue elevated from €15.1 million (~$17.73 million) to €15.5 million (~$18.19 million) within the first half of the yr, and gross revenue margin improved to 48.8 per cent from 48.1 per cent in H1 FY24, resulting from cheaper price reductions. Nonetheless, the corporate’s earnings after taxes (EAT) continued to plummet additional to €-2.7 million from €-1.5 million final yr.
For the second quarter, gross sales income elevated to €19.5 million versus €18.5 million in Q2 FY24, and EAT dropped farther from €-0.4 million final yr to €-0.7 million, confirming a average efficiency.
The corporate highlighted three predominant challenges affecting the German retail sector within the first half of 2025: unstable client sentiment, declining buyer footfall, and persevering with price will increase. Nonetheless, the corporate appears to be like confidently to the third quarter of 2025 and is relying on common situations stabilising once more, permitting administration to stick to the forecasts revealed in March 2025.
American Eagle Outfitters (NYSE: AEO)
NYSE-listed American Eagle Outfitters is an American vogue firm that delivered a average second-quarter efficiency, together with working earnings of $103 million, which elevated 2 per cent on income of $1.28 billion, exceeding expectations.
The corporate’s second quarter ended August 2, 2025, with web revenues and comparable gross sales each declining 1 per cent over the identical quarter final yr. The working margin of 8 per cent expanded 20 foundation factors from final yr.
The corporate paid $21 million by way of its quarterly money dividend of $0.125 per share, bringing YTD money dividends to $43 million.
Based mostly on the newest commerce insurance policies and estimated tariffs, the Pittsburgh-based firm shared its third- and fourth-quarter, and full fiscal 2025 outlook: comparable gross sales to stay up low single digit in each quarters and roughly flat for the total yr; and working earnings to remain between $95 and $100 million, $125 and $130 million, and $255 and $265 million, respectively.
American Eagle Outfitters, Inc is a world specialty retailer with a portfolio of attire manufacturers together with American Eagle, Aerie, OFFL/NE by Aerie, Todd Snyder, and Unsubscribed.
Weak: No Progress In Gross sales & Income
Delta Galil Industries (TLV: DELT)
Delta Galil Industries, Ltd—the worldwide designer, producer, and marketer of branded and private-label intimate, activewear, loungewear, and denim attire for women, males, and kids—reported a ‘weak’ monetary consequence for the second quarter ended June 30, 2025.
The Caesarea-based firm reported a decline in each gross sales and earnings in mid-August, with gross sales of $470.1 million remaining steady from the prior-year quarter, although own-web gross sales elevated 29 per cent, representing the tenth consecutive quarter of double-digit development.
Internet earnings in Q2 2025 was $16.7 million, in comparison with $21.0 million final yr. Nonetheless, web earnings in H1 2025 elevated to $34.3 million, in comparison with $33.1 million a yr earlier. Internet earnings excluding non-core gadgets, web of tax, stood at $34.3 million, in comparison with $35.5 million in H1 FY24.
The corporate revised its 2025 steering, excluding non-core gadgets, primarily based on alternate charges of $1.15 to €1 and three.45 NIS to $1, and present tax and tariff charges. The steering now tasks gross sales of $2,110 to $2,135 million in opposition to beforehand introduced $2,118 to $2,165 million; EBIT of $171 to $176 versus $192 to $200; and web earnings of $97 to $101 in comparison with earlier $112 to $118.
The corporate declared a dividend of $8 million, or $0.3065 per share, on September 9, 2025.
Macy’s Inc (NYSE: M)
New York-headquartered Macy’s reported second-quarter 2025 leads to early September and raised its annual web gross sales and adjusted diluted EPS steering.
Macy’s, Inc achieved web gross sales of $4.8 billion, declining 2.5 per cent regardless of exceeding the corporate’s steering. Comparable gross sales had been up 0.8 per cent on an owned foundation and 1.9 per cent on a comparable owned-plus-licensed-plus-marketplace foundation, additionally above the corporate’s steering, benefitting from optimistic comparable gross sales throughout nameplates (manufacturers).
Gross margin price of 39.7 per cent declined 80 foundation factors, reflecting proactive markdowns on remaining early spring product to take care of wholesome inventories and merchandise purchased below prior tariff charges.
GAAP web earnings for the quarter was reported at $87 million (2024: $150 million), or 1.7 per cent (2024: 2.9 per cent) of complete income, and adjusted web earnings amounted to $113 million (2024: $149 million), or 2.3 per cent (2024: 2.9 per cent) of complete income.
The corporate raised its annual steering, together with web gross sales and adjusted diluted EPS, to mirror second-quarter 2025 efficiency and the anticipated gross margin impression of present tariffs in Q3 and This autumn 2025.
Revised annual steering now contains web gross sales of $21.15 billion to $21.45 billion and adjusted diluted EPS of $1.70 to $2.05. Nonetheless, adjusted EBITDA and core adjusted EBITDA, as percentages of complete income, remained unchanged at 7.4 to 7.9 per cent and seven.0 to 7.5 per cent, respectively.
Macy’s owns the long-lasting manufacturers Macy’s, Bloomingdale’s, and Bluemercury.
