Finance & Capital Management

Only 53% of executives believe the EMV chip and pin will protect against a data breach, despite claims that it is more secure, according to a new study.

Weis Markets says its customer experience strategy is paying off, as the grocery chain credited the effort with its increase in same store sales in the first quarter.

New York -- O’Reilly Automotive posted a strong first quarter, laying the foundation for continued growth in 2015. America’s second largest retailer in the automotive aftermarket industry said its expansion plans are on track after profit rose in the first quarter on higher sales and better margins, continuing a trend of 15% or greater profit growth for the past six years. The company said it plans to build a new distribution center in Texas to help support its 205 new stores in 2015.

New York -- Expansion plans are under way at surging Tractor Supply Co., which had a 5.7% increase in same store sales and a 19% increase in earnings in the first quarter.

The Tennessee-based retailer said it plans to open 110 to 115 new stores in 2015, as well as build a new distribution center in Casa Grande, Ariz. For the first quarter, same store transaction count increased 4.8% and average ticket increased 0.8%. Pet and heating consumables, fencing, truck accessories and tools all performed well, the company said.

Lakeland, Fla. – Publix Super Markets Inc. satisfied the public in the first quarter of fiscal 2015. The retailer’s net income jumped 11% to $548.9 million from $493.7 million in the same period a year earlier.

Sales were $8.3 billion, a 7% increase from $7.8 billion. Same-store sales increased 5.3%.

Publix stock is not publicly traded and is made available for sale only to current Publix associates and members of its board of directors.

Greenboro, N.C. – The Fresh Market Inc. has elected Michael D. Casey, CEO and a director of Carter’s Inc., and Robert K. Shearer, formerly CFO of V.F. Corp, and currently a director of Church & Dwight Co. Inc., as independent directors. With these additions, The Fresh Market’s board has nine directors, eight of whom are independent directors.

New York – Specialty eyewear Warby Parker has reportedly received $100 million in financing the company plans to use to build new brick-and-mortar stores. According to the Wall Street Journal, the round of financing, led by T. Rowe Price, values Warby Parker at $1.2 billion.

Mississauga, Canada – Target Corp.’s exit from Canada is reportedly not turning out as smoothly as the retailer had hoped. According to the Toronto Globe and Mail, Target is returning 55 leases it could not find a bidder for to their landlords.

Target is also returning 19 leases for office and warehouse space in Canada. The company operated a total of 133 stores in Canada; meaning about 40% of the store leases did not attract bidders.

San Jose, Calif. – eBay Inc. shareholders have reportedly voted themselves a measure of power to nominate directors on the company’s board. According to the Wall Street Journal, 59% of shares voting at the meeting approved allowing investors who hold at least 3% of eBay’s shares for three years to nominate up to 25% of the company’s directors.

Sunbury, Pa. – A reduction in pretax income drove an 11% year-over-year decline in net income at Weis Markets Inc. during the first quarter of fiscal 2015. Net income fell to $13.11 million, from $14.77 million the same quarter a year earlier.

Net sales fared better, rising 4% to $712.43 million, from $687.13 million. Same-store sales rose 3.4%.