Finance & Capital Management

Foot Locker Inc. continues to cash in on the trend toward wearing fashionable active apparel, as the company reported impressive sales and earnings growth in its latest quarter.

For the second quarter ended Aug. 1, the retailer posted net income of $119 million, or 84 cents per share, compared with net income of $92 million, or 63 cents per share, last year, a 33% increase. Same store sales increased 9.6%. Total sales increased 3.3%, to $1,695 million this year, compared with sales of $1,641 million for the corresponding prior-year period.  

On the heels of another successful quarter from off-price rival TJX, Ross Stores Inc. also reported a spike in same store sales for the second quarter.

For the second quarter ended Aug. 1, Ross Stores says net earnings rose 8% to $259 million from $240 million the same quarter the prior fiscal year. Sales rose 9% to $2.97 billion from $2.73 billion, with same-store sales up 4%

With another difficult fiscal quarter under its belt, the CEO of Gap Inc. says the retailer will begin testing fast fashion merchandise in select stores.

Greensboro, N.C. – The Fresh Market Inc. did not meet Wall Street expectations for profit or revenue in the second quarter of fiscal 2015. The grocer reported net income of $17.47 million, up 53% from $11.39 million the prior period.

Higher gross margin and pretax income drove profit growth. Net sales increased 5% to $442.1 million from $422.23 million, and same-store sales decreased 1%. The Fresh Market plans to open 18 new stores and remodel or refresh nine to 10 stores during the full fiscal year.

New York — New York & Company Inc. maintained an essentially flat net loss in the third quarter of fiscal 2015, even as other financial metrics improved. The retailer reported net loss of $146 million, compared to $147 million the same period the previous fiscal year.

Increased selling, general and administrative expenses, including charges related to headcount reductions, consulting fees and legal and moving expenses that were part of an ongoing business re-engineering project, helped keep New York & Company in the red.

New York – Foot Locker Inc. scored big in the second quarter of fiscal 2015 with profit and sales that exceeded Wall Street expectations. Net income was $119 million, a 33% increase from $92 million the same period the prior year.   Total sales climbed 3% to $1.69 billion from $1.64 billion. Same-store sales grew 9.6%. Falling selling, general and administrative (SG&A) expenses aided profit growth, while foreign currency fluctuation had a negative impact on sales growth.  

Amazon.com is planning to open a fifth fulfillment center in the state of Texas.

In Texas, Amazon currently employs more than 3,500 full-time associates, has invested more than $400 million in the state and continues to grow its operations to meet customer demand. Amazon’s other Lone Star State fulfillment centers are located in Schertz, Coppell, and Haslet, with a fourth facility under construction in Dallas.

Seattle – Texas is known for its wide open spaces, and Amazon.com Inc. is slowly filling them in with distribution centers. Amazon plans to open a fifth Texas fulfillment center in San Marcos.

Amazon employees at the 855,000 sq.-ft. San Marcos fulfillment center will pick, pack, and ship smaller customer items, such as books, electronics and toys.