Content about Top Stories - Newsletter

August 28, 2014

Abercrombie & Fitch credited an ongoing profit improvement initiative as driving its net income growth in the second quarter, which increased 13% to $12.9 million, from $11.4 million a year ago, and beat Wall Street estimates.

Abercrombie & Fitch credited an ongoing profit improvement initiative as driving its net income growth in the second quarter, which increased 13% to $12.9 million, from $11.4 million a year ago, and beat Wall Street estimates.

But the company’s revenue decreased 5.8% to $890.6 million in the quarter, and same-store sales dropped 7%, with U.S. same-store sales down 5%. The third quarter may see some progress, however, since it will include back-to-school sales.

August 28, 2014

Dollar General made the case for the superiority of its Family Dollar takeover bid with the release of second quarter results that revealed consistency as well some deceleration in sales and profit growth.

Dollar General made the case for the superiority of its Family Dollar takeover bid with the release of second quarter results that revealed consistency as well some deceleration in sales and profit growth.

August 28, 2014

Soft traffic and promotional activity have continued to put Guess’ North American stores under pressure, but the retailer said it is encouraged by its North American online business, which soared 50% in the second quarter.

Soft traffic and promotional activity have continued to put Guess’ North American stores under pressure, but the retailer said it is encouraged by its North American online business, which soared 50% in the second quarter.

The company reported net earnings of $22 million, a 50.5% decrease compared to adjusted net earnings of $44.3 million for the year ago period, which prompted the retailer to cut its fiscal year outlook.

Sales for the quarter decreased 4.8% to $608.6 million, from $639 million a year ago. Same-store sales decreased 5.4%.

August 28, 2014

Destination XL president and CEO David Levin credited increased traffic and higher conversion rates for helping drive sales in the second quarter.

Destination XL president and CEO David Levin credited increased traffic and higher conversion rates for helping drive sales in the second quarter.

Although charges related to the decision by Destination XL to exit the Sears Canada Direct business resulted in the retailer’s net loss growing to $4 million in the quarter, from $1.6 million a year earlier, total sales fared better, increasing 6% to $103.7 million, compared with $98 million in the second quarter of fiscal 2013. Same-store sales rose 7%.

August 28, 2014

An increased risk of an emerging El Nino and a continuation of warmer than normal ocean waters in the Atlantic will produce warmer and wetter conditions along the East Coast along with an elevated tropical system risk...

An increased risk of an emerging El Nino and a continuation of warmer than normal ocean waters in the Atlantic will produce warmer and wetter conditions along the East Coast along with an elevated tropical system risk. The total number of tropical systems will be reduced overall, but should a storm threaten the U.S., the East Coast would be at highest risk. Much cooler weather will be common across the Plains with increased rainfall east of the Rockies.

August 28, 2014

Williams-Sonoma’s second quarter results may have met Wall Street expectations, but shares dropped nearly 12% as a result of the company’s weak guidance for the third quarter of fiscal 2014 — which will include earnings from most of the back-to-school season.

Williams-Sonoma’s second quarter results may have met Wall Street expectations, but shares dropped nearly 12% as a result of the company’s weak guidance for the third quarter of fiscal 2014 — which will include earnings from most of the back-to-school season.

For the quarter, the company posted net revenues of $1.04 billion, an almost 6% increase from $982 million a year ago. Total same-store sales increased 5.7%. Direct-to-customer revenues climbed 9.4%.

August 27, 2014

Express CEO Michael Weiss was optimistic about the retailer’s progress in the second quarter, especially considering the difficult environment the company has been dealing with in recent months.

Express CEO Michael Weiss was optimistic about the retailer’s progress in the second quarter, especially considering the difficult environment the company has been dealing with in recent months.

August 27, 2014

Price cuts made to clear seasonal merchandise were a primary driver of Chico’s lower net income for the second quarter ended Aug. 2.

Price cuts made to clear seasonal merchandise were a primary driver of Chico’s lower net income for the second quarter ended Aug. 2.

The company posted net income of $30.1 million for the quarter, a drop of 31% from $43.6 million in the year-ago period. Net sales for the quarter were $671.1 million, an increase of 3.3% from $649.5 million in the previous year, but driven primarily by sales at 98 net new stores. Same-store sales inched up by 0.3%.

August 27, 2014

Roughly two months removed from an initial public stock offering, Michaels CEO Chuck Rubin said the company is on track to implement a multi-year strategic plan following the release of second quarter results that showed broad based sales strength and healthy margins.

Roughly two months removed from an initial public stock offering, Michaels CEO Chuck Rubin said the company is on track to implement a multi-year strategic plan following the release of second quarter results that showed broad based sales strength and healthy margins.

August 27, 2014

Famous Footwear parent company Brown Shoe said it believes stepped up omnichannel efforts will drive sales this back-to-school season sales after reporting better than expected second quarter results.

Famous Footwear parent company Brown Shoe said it believes stepped up omnichannel efforts will drive sales this back-to-school season sales after reporting better than expected second quarter results.

August 27, 2014

While food and consumable retailers are struggling to pass along price increases and grow same stores sales, luxury retailer Tiffany is having little difficulty with either metric.

While food and consumable retailers are struggling to pass along price increases and grow same stores sales, luxury retailer Tiffany is having little difficulty with either metric.

August 26, 2014

Ace Hardware is kicking off its J.D. Power Award Neighborhood Tour for the second year in a row. Recently ranked "Highest in Customer Satisfaction with Home Improvement Retail Stores" for the eighth year in a row by J.D. Power, Ace will celebrate the achievement by taking all eight J.D. Power trophies on the road, visiting 38 states and more than 175 neighborhood stores.

Ace Hardware is kicking off its J.D. Power Award Neighborhood Tour for the second year in a row. Recently ranked "Highest in Customer Satisfaction with Home Improvement Retail Stores" for the eighth year in a row by J.D. Power, Ace will celebrate the achievement by taking all eight J.D. Power trophies on the road, visiting 38 states and more than 175 neighborhood stores.

August 26, 2014

Leading Northeastern food retailer Wegmans is introducing a new line of peeled, deveined and wild-caught Gulf of Mexico shrimp and enticing shoppers with seafood promotion featuring a wide range of domestically sourced products.

Leading Northeastern food retailer Wegmans is introducing a new line of peeled, deveined and wild-caught Gulf of Mexico shrimp and enticing shoppers with seafood promotion featuring a wide range of domestically sourced products.
 

August 25, 2014

Amazon has reached an agreement to acquire Twitch Interactive, a leading live video platform for gamers. In July, more than 55 million unique visitors viewed more than 15 billion minutes of content on Twitch produced by more than 1 million broadcasters, including individual gamers, pro players, publishers, developers, media outlets, conventions and stadium-filling e-sports organizations.

Amazon has reached an agreement to acquire Twitch Interactive, a leading live video platform for gamers. In July, more than 55 million unique visitors viewed more than 15 billion minutes of content on Twitch produced by more than 1 million broadcasters, including individual gamers, pro players, publishers, developers, media outlets, conventions and stadium-filling e-sports organizations.

August 25, 2014

Two industry retailers were honored for their political advocacy and grassroots support at the National Association of Chain Drug Stores Political Involvement Reception during the NACDS Total Store Expo.

Two industry retailers were honored for their political advocacy and grassroots support at the National Association of Chain Drug Stores Political Involvement Reception during the NACDS Total Store Expo.

NACDS chain member H-E-B received the NACDS RxIMPACT “Leader of the Year” award for its efforts to engage in practically every program of the NACDS RxIMPACT brand, including congressional meetings during the annual NACDS RxIMPACT Day on Capitol Hill, conducting numerous NACDS RxIMPACT Pharmacy tours and hosting pharmacy advocacy training programs.

August 25, 2014

PetSmart has partnered with the City of Sacramento to bring a portable, popup dog park to Sacramento. The dog park, which provides more than 9,000 sq. ft. of space for pet owners and their pets, is now open.

PetSmart has partnered with the City of Sacramento to bring a portable, popup dog park to Sacramento. The dog park, which provides more than 9,000 sq. ft. of space for pet owners and their pets, is now open.

There are currently two other PetSmart P.U.P.s in the country: one in Phoenix, Arizona, and a second in downtown Detroit (Detroit’s first urban dog park). In addition, PetSmart plans to bring a P.U.P. to one more community by the end of 2014.

August 25, 2014

ShopYourWay, the digital loyalty, marketing and shopping platform of Sears and Kmart, has enlisted YouTube celebrities Ricky Dillon and Jenn McCallister to be “curators of cool” for the site.

ShopYourWay, the digital loyalty, marketing and shopping platform of Sears and Kmart, has enlisted YouTube celebrities Ricky Dillon and Jenn McCallister to be “curators of cool” for the site.

Dillon and McCalister collaborated with Shop Your Way to deliver their first semester fashion picks, creating catalogs members can like, follow and share. They have nearly 10 million fans combined on social media networks such as YouTube, Instagram and Twitter.

August 25, 2014

Ann Inc. is being urged to explore options, including a sale, by activist investor Engine Capital and Red Alder. The two firms, who collectively own more than 1% of the outstanding shares of Ann Inc., are publicly urging the company to sell at a substantial premium above current stock price.

Ann Inc. is being urged to explore options, including a sale, by activist investor Engine Capital and Red Alder. The two firms, who collectively own more than 1% of the outstanding shares of Ann Inc., are publicly urging the company to sell at a substantial premium above current stock price.

In an open letter to the retailer’s board of directors, Engine Capital and Red Alder stated that the company is “deeply undervalued” and could be worth $50 to $55 a share to an acquirer, or a 33- to 46.5% premium to its current stock price.

August 22, 2014

Although Ann Inc. began the quarter on a positive note, the company was unable to capitalize on the momentum it generated through mid-June. The second half of the quarter was marked by softer traffic levels and a highly promotional environment that pressured sales and margin.

Although Ann Inc. began the quarter on a positive note, the company was unable to capitalize on the momentum it generated through mid-June. The second half of the quarter was marked by softer traffic levels and a highly promotional environment that pressured sales and margin.

August 22, 2014

Although same-store sales at Gap were flat in the second quarter, the company reported a better-than-expected quarterly profit, buoyed by strong sales at Old Navy, and raised its full-year profit forecast as a result.

Although same-store sales at Gap were flat in the second quarter, the company reported a better-than-expected quarterly profit, buoyed by strong sales at Old Navy, and raised its full-year profit forecast as a result.

Net profit rose to $332 million in the quarter from $303 million a year ago.

August 22, 2014

Foot Locker chairman and CEO Ken C. Hicks credited his entire team for once again achieving record levels of sales and profits in the second quarter.

Foot Locker chairman and CEO Ken C. Hicks credited his entire team for once again achieving record levels of sales and profits in the second quarter.

Net income for the quarter increased to $92 million, from $66 million in the year-ago period.

Total sales increased 12.9%, to $1.64 billion, compared with $1.45 billion for the corresponding prior-year period. Excluding the effect of foreign currency fluctuations, total sales for the second quarter increased 11.7%. Same-store sales rose 7%, beating analysts’ expectations.

August 21, 2014

Describing second-quarter earnings as "unacceptable," Sears Holdings chairman and CEO Edward Lampert added that his company's transformation is continuing and online sales are growing.

Describing second-quarter earnings as "unacceptable," Sears Holdings chairman and CEO Edward Lampert added that his company's transformation is continuing and online sales are growing.

The company reported second-quarter net loss of $573 million, compared with a loss of $194 million in the same quarter last year. Revenues decreased $858 million to $8.0 billion for the quarter ended Aug. 2, 2014,

August 21, 2014

Dollar Tree delivered its 26th consecutive quarter of positive comparable store sales growth in the second quarter, but profit declined 2.6% thanks to increased freight costs and investments in higher-value products.

Dollar Tree delivered its 26th consecutive quarter of positive comparable store sales growth in the second quarter, but profit declined 2.6% thanks to increased freight costs and investments in higher-value products.

Consolidated comparable store sales increased 4.5% on a constant currency basis. Adjusted for the impact of Canadian currency fluctuations, the comparable store sales increase was 4.4%. Consolidated net sales increased 9.5% to $2.03 billion from $1.85 billion in the prior year’s second quarter.

August 21, 2014

Four years after it opened its first location in New York City, teen and pre-teen bargain retailer Five Below is set to open its first location in Brooklyn at the borough’s Gateway Center Aug. 29. The 7,500-sq.-ft. store will feature all of the company’s merchandise, all priced at or below $5.

Four years after it opened its first location in New York City, teen and pre-teen bargain retailer Five Below is set to open its first location in Brooklyn at the borough’s Gateway Center Aug. 29. The 7,500-sq.-ft. store will feature all of the company’s merchandise, all priced at or below $5.

August 21, 2014

Stein Mart CEO Jay Stein is focused on the company’s growth strategy, which includes plans to continue expanding the company’s e-commerce business, following second-quarter results.

Stein Mart CEO Jay Stein is focused on the company’s growth strategy, which includes plans to continue expanding the company’s e-commerce business, following second-quarter results.

Total sales for the quarter increased 2.5% to $298.2, while comparable store sales increased 1.3%. Gross profit for the quarter was $84.2 million, or 28.3% of sales.