Finance & Capital Management

Columbus, Ohio — L Brands Inc. met Wall Street expectations with profit and revenue in the second quarter of fiscal 2015. Net income grew 7% to $202.48 million from $188.36 million the same period a year earlier.

The cost of goods sold rose at a slower rate than net sales, helping boost profits. Net sales grew 4% to $2.76 billion from $2.67 billion. Same-store sales rose 3% overall, with the Victoria’s Secret and Bath & Body Works banners both posting a 3% same-store sales lift.

On the heels of announcing accelerated plans for expansion in the Northeast and Midwest, Stein Mart has reported impressive sales results for the second quarter.

The Florida-based off-price retailer reported net income of $4.1 million, up 58% from $1.7 million the prior year quarter. Sa,e store sales rose by 3%. Net sales rose 4% to $311.58 million from $298.16 million.

Nashville, Tenn. — Even as net sales climbed, Kirlkland’s Inc. missed Wall Street expectations with growing net loss in the second quarter of fiscal 2015. Increases in operating expenses and depreciation helped more than double net loss to $2.3 million from $1.1 million the same quarter a year earlier.

Net sales rose 10% to $233.6 million from $211.7 million. Same-store sales, including e-commerce, rose 4.8%.

L Brands Inc. continues to elude the troubles that have plagued other mall retailers, as the company reported a spike in same store sales.

The parent company of Bath and Body Works and Victoria's Secret said earnings per share for the second quarter ended Aug. 1 increased 8% to 68 cents compared to 63 cents for the quarter ended Aug. 2, 2014. Net income was $202.5 million compared to $188.4 million last year. Same store sales increased 4%.

Jacksonville, Fla. — Profit almost doubled at Stein Mart Inc. during the second quarter of fiscal 2015. Stein Mart reported net income of $4.1 million, up 58% from $1.7 million the prior year quarter.

A slow pace of growth in cost of merchandise sold and essentially flat selling, general and administrative (SG&A) expenses helped drive strong profit growth. Net sales rose 4% to $311.58 million from $298.16 million.

Stage Stores Inc. lowered its profit forecast for the year and said it plans to close at least 90 underperforming stores as the retailer invests more on digital.

The retailer said it expects the closures to enhance its capital efficiency, deliver higher productivity and allow it to invest more money in the online sales product mix and technology in general.

York, Penn. – The Bon-Ton Stores Inc. saw its net loss grow to $39.6 million from $36.2 million in a difficult second quarter of fiscal 2015. An early mortgage termination led to the increased loss.
Unseasonably cool weather and shrinking traffic drove net sales down 1% to $555.4 million from $563.5 million. Same-store sales fell 0.2%, although e-commerce sales grew in the double digits.  

The CEO of Citi Trends says well-managed inventories and improved merchandising helped the company deliver strong sales growth in the second quarter.