Ascena says its second quarter revenue got a big boost from the acquisition of Ann Inc., but same-store sales declined sharply during the period.
\r\n\tFor the second quarter ended Jan. 23, the companyreported a net loss of 12 cents per diluted share compared to net income of 5 cents per diluted share in the same period of fiscal 2015.Net sales were $1.842 billion compared to $1.289 billion last year, with the increase driven by the acquisition of Ann Inc. Second quarter total comparable sales were down 6%.
","showSummary":null,"url":"/news/shoppers-stay-away-ann-taylor-justice-over-holidays","date":"2016-03-02T00:00:00","author":{"email":null,"uname":"Anonymous","firstName":null,"lastName":null,"bio":null,"title":null,"picture":null,"phone":null,"contactForm":null},"digitalEdition":null,"sponsored":false,"taggedPro":null,"teaserImage":{"id":56887,"url":"https://assets1.chainstoreage.com/styles/secondary_articles_short/s3/teaser_image_39733.jpg?itok=nski2vWW","width":767,"height":575,"alt":null},"topics":[{"name":"News","url":"/news"},{"name":"FINANCE","url":"/finance"}],"attachedFiles":[]},{"title":"Weather boosts sales at Big 5 Sporting Goods","id":54418,"bundle":"article","summary":"Cold winter weather in the Western states helped Big 5 Sporting Goods post an increase in same-store sales and profit in the fourth quarter.
\r\n\t
\r\n\tFor the fourth quarter ended Jan. 3, the retailer said net sales increased to $275 million from net sales of $250.3 million for the fourth quarter of fiscal 2014. Same-store sales increased 0.1% for the fourth quarter of fiscal 2015 and 1.4% for the full year.
\r\n\t
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The Sports Authority on Wednesday filed for Chapter 11 bankruptcy protection and said it plans to close or sell as many as 140 of its 463 stores nationwide. The beleaguered company has struggled in recent years under increased competition not only from online players, but also from the likes of Dick’s Sporting Goods and specialty retailers such as Lululemon that have capitalized on the “athleisure” boom in fitness apparel.
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Dollar Tree on Tuesday credited sales at its Family Dollar division as helping to boost the company’s overall results for the fourth quarter. But the increase still fell short of analysts expectations.
\r\n\t
\r\n\tSales for the quarter ended Jan. 30 totaled $5.37 billion, a 116.7% increase from the year-ago period but still less than expected. The boost in revenue was the result of $2.68 billion in sales from the Family Dollar segment.
\r\n\t
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FINANCE
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Rite Aid posts year-end sales lift of 1.3%
Rite Aid on Thursday announced February sales results of its retail pharmacy segment. For the five weeks ended Feb. 27, total drugstore sales for the five-week period increased 0.1% with sales of $2.6 billion. Prescription sales accounted for 69.4% of drug store sales, and third-party prescription sales represented 98% of pharmacy sales.
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Costco prevails during holidays
Costco’s profit fell short of analysts’ estimates at the mid-point in its fiscal year, but business trends were solid in the company’s second quarter with a 4% same store sales increase at U.S. locations.
The company said its total revenues for the period ended Feb. 14, which included the holidays, increased 2.6% to $28.2 billion. Merchandise and service sales increased 2.6% to $27.9 billion and membership fees increased 3.6% to $603 million.