Finance & Capital Management

Aeropostale has added Stefan Kaluzny, managing director at Sycamore Partners, and Julian Geiger, former director and CEO of Crumbs Bake Shop and former chairman and CEO of Aeropostale, to its board of directors.

Arthur Rubinfeld is also stepping down as a director of Aeropostale. In addition, the company's board of directors will nominate Kenneth Gilman, currently a director of Zale Corp. and Kate Spade & Co., for election as an independent director.

AutoZone marked its 31st consecutive quarter of double digit earnings per share growth for the period ended May 10.

The company reported net sales of $2.3 billion for the quarter, an increase of 6.2% from the third quarter last year. Domestic same-store sales, or sales for stores open at least one year, increased 4% for the quarter.

Net income for the quarter increased $19.6 million, or 7.4%, over the same period last year to $285.2 million, while diluted earnings per share increased 16.4% to $8.46 per share from $7.27 per share in the year-ago quarter.

Birmingham, Ala. – Hibbett Sports Inc. plans to open 75-80 new stores, expand 10-15 stores and close 10-15 stores during fiscal 2015 (which coincides with calendar 2014). These aggressive growth plans comes as Hibbett reports increases in net income and sales during the first quarter of fiscal 2015.

New York – Aeropostale Inc. reported a net loss of $76.8 million in the first quarter of fiscal 2014, up from the $12.2 million net loss it reported a year earlier. It also projected a second-quarter loss forecast bigger than analysts expected.

The struggling retailer, which has reported a loss for six consecutive quarters, had a generally difficult quarter overall, as net sales fell 12% to $395.9 million from $452.3 million and same-store sales decreased 13%.  Aeropostale has reported declining comparable sales for seven straight quarters.

Dublin, Calif. – By controlling inventory and expenses, Ross Stores Inc. was able to report a 4% increase in net income during the first quarter of fiscal 2014 despite bad weather and other negative factors. Net income totaled $243.9 million, up from $234.6 million in the same period the prior year.

First quarter 2014 sales increased 6% to $2.68 billion, up from $2.54 billion in first quarter 2013. Same-store sales rose 1%. Ross Stores expects same-store sales to grow 1%-2% during the second quarter of fiscal 2014.

Woonsocket, R.I. – CVS Caremark is reportedly considering a purchase of Brazilian drugstore chain Drogarias Pacheco São Paulo (DPSP) as it looks to further expand its presence in Brazil, according to news reports.

Following the alleged rejection of its first offer of 4.5 billion Brazilian reais ($2 billion), CVS is reportedly looking to possibly make another offer, the Wall Street Journal reported, citing the local newspaper Valor Economico. DPSP has reportedly set a minimum price for the company at BRL5.9 billion.

New York – Foot Locker Inc. had a successful first quarter of fiscal 2014, with rising sales driving solid net income performance. Net income grew 17% to $162 million, from $138 million in the first quarter of fiscal 2013.

Net sales rose 14% to $1.87 billion, from $1.64 billion. Same-store sales climbed 7.6%.

New York – New York & Company Inc. swung to a net loss of $300,000 in the first quarter of fiscal 2014 from net income of $1.6 million in the first quarter of the previous fiscal year. Net sales were $219.6 million, down 4% from $227.5 million, and same-store sales declined 2.2%.

Evansville, Ind. – Shoe Carnival Inc. reported a 3% year-over-year drop in net income to $9.2 million, from $9.5 million in the first quarter of fiscal 2014. The retailer plans to open 23-28 new stores in fiscal 2014, including 16 in the second quarter and seven-to-12 in the fourth quarter.

Shoe Carnival’s net sales grew 1.5% to $235.8 million, from $232.3 million.

Greensboro, N.C. – The Fresh Market Inc. reported decreasing profit in the first quarter of fiscal 2014 even as net sales growth exceeded Wall Street expectations. Net income fell 25% to $16.57 million from $22.12 million in the same period the prior year, while net sales increased 18% to $431 million from $366.63 million and same-store sales climbed 2.5%.

Fresh Market plans to open four new stores in the second quarter and 12 to 13 new stores in the second half of the year, as well as remodel four-to-five stores.