Finance & Capital Management

Walgreens Boots Alliance has appointed a PepsiCo and UPS veteran as its new CIO.  

Anaheim, Calif. -- Pacific Sunwear of California Inc. reported a loss of $3.5 million in its fiscal first quarter, missing Street expectations.
 
The teen clothing retailer had revenue of $166.5 million in the period, also short of expectations. Same-store sales fell 2%.

ULTA Beauty is that rare breed of retailer capable of exceeding ever loftier growth expectations and it did so again with the release of first quarter results on May 28.

ULTA reported that net sales increased 21.6% to $868.1 million from $713.8 million in the first quarter of fiscal 2014. Same store sales increased 11.4% compared to an increase of 8.7% in the first quarter of fiscal 2014. The 11.4% same store sales increase was driven by 7.2% growth in transactions and 4.2% growth in average ticket. 

The integration of Zales helped Signet Jewelers turn i a robust financial performance in the first quarter.

New marketing efforts at Express appear to be resonating with customers, as the retailer posted a strong first quarter performance.

Columbus, Ohio -- Express turned in a strong first quarter performance, with its profits and revenue surpassing Wall Street estimates. The retailer boosted its full-year earnings forecast and also issued second-quarter earnings guidance above analyst projections.

“2015 is off to a strong start,” said David Kornberg, president and CEO. “Our customers responded with enthusiasm to our assortment while we intensified our inventory discipline and scaled back our promotional activity.”

The Walmart Foundation is investing in job training efforts in Florida by giving more than $1 million in grants to 21 nonprofits across the state.

"Through these grants, more than 20 deserving nonprofit organizations will be able to continue funding vital local programs across the state,” said Senate President Andy Gardiner. “Thanks to Walmart and the Walmart Foundation for recognizing the impact these programs have on so many lives. We appreciate their continued investment in communities throughout Florida."

Memphis, Tenn. – Fred’s Inc. beat Wall Street expectations for profit despite swinging to a net loss of $29,000 in the first quarter of fiscal 2015 from net income of $6.1 million in the same period the prior year. The retailer missed on net income of $509 million, up 2% from $498.3 million.

Higher salary and benefit costs helped move Fred’s into the red. Same-store sales climbed 0.8%.

Jerry A. Shore, CEO, said pharmacy is a critical component of Fred’s strategy for profitability moving forward.