Finance & Capital Management

Efforts to change its merchandising and branding are paying off for Abercrombie & Fitch Co., which reported a smaller profit and revenue loss than expected in the second quarter.

Abercrombie reported a net loss of $810,000, compared to net income of $12.9 million the same quarter a year earlier. Revenue fell 9% to $817.8 million from $890.6 million. Total company ame-store sales dropped 4%. Abercrombie same-store sales fell 7% and Hollister same-store sales fell 1%, below Wall Street’s expected rate of decline.

Fort Myers, Fla. – Chico’s FAS Inc. on Wednesday released better-than-expected second quarter sales and earnings and also announced it was selling off its Boston Proper specialty women’s apparel business.

Earlier this year, the retailer launched a turnaround plan that includes closing some 120 stores through February 2017, cutting jobs and reducing spending.

Minneapolis – Target Corp. has released an estimate of costs related to its 2013 data breach.

In a 10-Q filing with the Securities and Exchange Commission (SEC), Target estimated it had incurred $168 million in liabilities and was eligible for $55 million in insurance reimbursements (as of August 1, 2015).

Altoona, Pa. -- Family-owned convenience store chain Sheetz is partnering with First Bankcard to offer its first private label credit card, the Sheetz Personal Credit Card.

First Bankcard is a division of First National Bank of Omaha and a leading issuer of credit cards.

The card is designed to be used exclusively at Sheetz stores and offers customers’ automatic savings at the chain’s fuel pumps, as well the ability to earn points on every qualifying purchase in its stores.

Express Inc. says improved marketing and merchandising measures led to strong profit and revenue performance in the second quarter.

Net income totaled $21 million, compared to $6.9 million, boosted by gross profit resulting from cost of sales growth that was significantly behind the rate of net sales growth.

Net sales increased 11% to $535.58 million from $481.42 million. Same-store sales rose 7% and e-commerce sales grew 21%.

Livonia, Mich. -- Pet Supplies Plus is looking to capitalize on the $58 billion pet industry.

The company, the nation’s largest pet retail franchise, announced that, so far this year, it has 19 new locations in the pipeline. Newly signed agreements will bring the neighborhood pet stores to new and underserved markets including Nashville, Atlanta, Houston, Jacksonville and Denver.
 

Columbus, Ohio -- Express Inc. soared in the second quarter as its profit tripled amid increased sales and profit margins and reduced promotional activity.

The retailer on Wednesday reported better-than-expected sales and profit for the second quarter. It also raised its full year outlook.

Express’ net income totaled $21 million, compared to $6.9 million, boosted by gross profit resulting from cost of sales growth that was significantly behind the rate of net sales growth.

 Specialty apparel retailer The Children’s Place Inc. saw its net loss grow and net sales drop in a difficult second quarter of fiscal 2015.