Canton, Mass. – Destination XL posted a loss of $6.3 million in the third quarter of fiscal 2014, up from a loss of $4.1 million the same quarter a year earlier. Transition costs, including lease exits and pre-opening costs, contributed to the growing loss.
New York - Foot Locker Inc. reported net income of $120 million in the third quarter of fiscal 2014, a 13% gain from $104 million in the year-ago period. Higher pretax income aided Foot Locker’s profit growth.
Total sales increased 6.7% to $1.73 million, compared with $1.62 million in the year-ago period. Same-store sales rose 6.9%.
Nashville - Kirkland’s Inc. reported net income of $1.3 million in the third quarter of fiscal 2014, a 30% increase from $1 million the same quarter in the previous fiscal year. Higher gross profit helped boost net income.
The retailer beat Wall Street expectations with net income as well as with net sales of $117.2 million, up 10% from $106.1 million.
Secaucus, N.J. – The Children’s Place Inc. has named Anurup Pruthi as senior VP and CFO, effective Dec. 1, 2014. He will report to Michael Scarpa, COO.
Goodlettsville, Tenn. – Dollar Tree Inc. beat Wall Street predictions for profits and sales in a generally strong third quarter of fiscal 2014. Net income rose 6% to $133 million from $125.4 million.
Consolidated net sales increased 11% to $2.1 billion from $1.88 billion and consolidated same-store sales increased 5.9%.
Best Buy shared an optimistic view of the holiday season after posting a 3.2% third quarter comp increase at U.S. stores, but offered plenty of reasons why profitability could prove challenging.
NEW YORK - Best Buy on Thursday reported unexpectedly strong and better-than-expected profit and sales for the third quarter, gaining new momentum as it heads into the holiday shopping season. It was the first time since the third quarter of last year that Best Buy reported positive comparable store sales.
