Finance & Capital Management

Moorestown, N.J. – Destination Maternity Corp. swung to a loss in a generally difficult second quarter of fiscal 2015.

Costs related to store closures and headquarters relocation helped drive the retailer to a net loss of $2.68 million from net income of $321,000 a year earlier.

Specialty men’s retailer Destination XL Inc. reported Thursday that it shrank its net loss in the second quarter.

GameStop Corp. grew sales and revenue in the second quarter, but it also took steps to expand its non-gaming business.

For the second quarter ended Aug. 1, the retailer’s net income rose 3% to $25.3 million from $24.6 million. Total global sales rose 2% to $1.76 billion from $1.73 billion, and consolidated global same-store sales increased 8.1% (10.8% in the U.S. and 1.8% internationally).

Columbus, Ohio – Big Lots on Friday reported second-quarter profit and revenue that beat analysts' estimates. The retailer also announced several promotions as part of a realignment of its supply chain management.

Big Lots’ net income dropped 13% to a better-than-expected $17.63 million from $19.94 million, with loss from discontinued operations cutting otherwise flat profit.

Net sales for the quarter increased 1% to $1.21 billion, from $1.19 billion. Same-store sales rose 2.8%.

Brisbane, Calif. – Bebe Stores Inc. continues to expand its global presence.

Bebe announced it has signed a five-year strategic cooperation agreement with Shanghai-based brand agency Longgoal LLC to open between 60 and 150 Bebe stores, shop-in-shops and third-party retailers in Greater China, Hong Kong, Macau and Taiwan. The first store is expected to open in the summer of 2016.

Dallas – Some major retailers are participating in the 30th Retailing Summit conference hosted by The Texas A&M University’s Center for Retailing Studies at Mays Business School.

Marvin Ellison, the new CEO of The J.C. Penney Co. Inc. and Barry Beck, co-founder and COO of Bluemercury, which was recently purchased by Macy’s, will be among the speakers at the conference, held Oct. 8-9 at the Westin Galleria in Dallas.

The CEO of Michaels says an improved merchandising strategy and a focus on the customer experience helped drive sales growth at the specialty retailer in the second quarter.

Total sales increased 3.8% to $984.3 million in the second quarter ended Aug. 1 at Michaels and same store sales increased 2.9%. Michaels reported a profit of $35.7 million, or 17 cents a share, vs. a loss of $46.8 million, or 26 cents a share, a year ago.

The turnaround plan at Big Lots, which is helping the retailer grow profit and same store sales, is also prompting some management changes.

For the second quarter ended Aug. 1,  same store sales increased 2.8%. Net sales increased 1.2% to $1,209.7 million. Big Lots reported a profit of $17.6 million, or 34 cents a share, down from $19.9 million, or 36 cents, a year earlier. Excluding certain items, per-share profit rose to 40 cents from 31 cents. Revenue edged 1.2% higher to $1.21 billion.