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Finance & Capital Management

  • Stein Mart net income dips; 10 stores planned

    Jacksonville, Fla. – Earnings dipped at Stein Mart Inc. during the first quarter of fiscal 2015, even as net sales improved. Net income fell 3% to $13.6 million from $14.1 million a year earlier, with higher loan interest expense a major contributor.

    Net sales increased 7% to $353.5 million, from $328.9 million. Same-store sales rose 4.8%. Higher store traffic and e-commerce sales boosted same-store sales results.

  • Stein Mart growing footprint and sales

    Stein Mart is not only growing its footprint but the off-price retailer is also growing same store sales as well.

    Same-store sales rose 4.8% in the first quarter ended May 2. Net income fell 3% to $13.6 million from $14.1 million a year earlier, with higher loan interest expense a major contributor. Net sales increased 7% to $353.5 million, from $328.9 million.

  • Best Buy beats Street with Q1 profits, sales

    Minneapolis – Domestic demand for large-screen TVs and mobile phones helped Best Buy Co Inc. beat Wall Street projections for profits and sales in the first quarter of fiscal 2016. Net earnings fell 72% to $129 million from $461 million a year earlier, largely due to corporate restructuring charges.

  • Kirkland's expansion plan still on track

    Kirkland’s Inc. says it is still on track to open as many as 40 new stores in 2015 after reporting solid financial results in its latest quarter.

    The company’s net income increased 23% to $2.53 million, from $2.05 million a year earlier. Growth in cost of sales and operating expenses lagged the rate of revenue growth, boosting net income. Net sales rose 9% to $118.31 million, from $108.25 million. Same store sales, including e-commerce sales, grew 3%.

  • Bareburger enlists Buxton to find new markets

    Astoria, N.Y. – Bareburger has signed up to use Buxton's Scout platform to identify the best market opportunities for growth in the U.S. and Canada. Buxton's custom analytic solutions will allow Bareburger to quantify growth potential and select the best sites for new locations.

  • Shoe Carnival steps it up in Q1

    Improved merchandising and e-commerce initiatives helped Shoe Carnival post first quarter gains in profits, earnings and sales.

    The company reported that net sales increased $17 million to a first quarter record of $252.8 million, as compared to net sales for the first quarter of fiscal 2014. Same store sales increased 3%. Earnings per diluted share for the first quarter increased 15.6% to 52 cents.

  • Ashley Furniture to open e-commerce headquarters in Tampa

    Tampa, Fla. -- Ashley Furniture Industries announced that it is establishing, through its wholly owned subsidiary, Ashcomm LLC, its U.S. e-commerce headquarters in Ybor City.

    The headquarters office will occupy 70,000 sq. ft. of space in Centro Ybor in the heart of Tampa’s historic business and entertainment district. It will eventually house more than 100 employees in executive, administrative, marketing, design, and information technology positions for both the e-commerce business as well as other Ashley corporate operations.
     

  • Shoe Carnival celebrates profits; will open 18-19 stores

    Evansville, Ind. – Shoe Carnival Inc. saw net income and sales increase during the first quarter of fiscal 2015 as selling, general and administrative (SG&A) expenses and cost of sales rose at a slower pace than revenues.

    Net income totaled $10.4 million, up 8% from $9.2 million the same period a year earlier.

    Net sales increased 7% to $252.77 million, from $235.77 million. Same-store sales climbed 3%.

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