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Finance & Capital Management

  • Lands’ End Q2 net income up 5%

    Dodgeville, Wis. — Net income at Lands’ End Inc. grew 5% to $11.8 million in the second quarter of fiscal 2014 from $11.3 million in the same period a year earlier. Net sales also increased 5%, to $347.2 million from $329.6 million.

    Same-store sales improved 2.8%. Lands’ End attributed its positive performance to improved merchandise assortment, modern creative presentation, better inventory management and continued expense controls.

  • 1-800-Flowers Q4 net income soars

    Carle Place, N.Y. — 1-800-Flowers.com net income jumped to $3.1 million in the fourth quarter of fiscal 2014 compared to $538,000 in the previous year period. Continued focus on leveraging its operating platform helped boost net income.

  • Q4 net income soars at 1-800-Flowers

    Carle Place, N.Y. – 1-800-Flowers.com net income almost sextupled to $3.1 million in the fourth quarter of fiscal 2014, compared to $538,000 in the previous year period. Continued focus on leveraging its operating platform helped boost net income.

  • Challenges not enough to offset 99 Cents Q2 results

    California's drought disrupted 99 Cents Only Stores’ ability to continually stock “right-priced” produce, which affected the company’s overall financial results for the second quarter. But despite the challenges, same-store sales in the quarter were positive.

    The company's net sales for the quarter increased $25.1 million to $458.2 million, compared to $433.1 million in the prior-year quarter. Same-store sales increased 0.1%, calculated on a comparable 13-week period of the prior year.

  • Wet Seal Q2 posts wider-than-expected loss; sales miss

    Foothill Ranch, Calif. – Teen retailer The Wet Seal reported a new loss of $22 million for its second quarter, up from $1 million to $22 million in the year-ago period. Lower merchandise margins, higher occupancy costs, costs related to exiting its Arden B business, and non-cash asset impairment charges all helped increase Wet Seal’s net loss.

    Net sales decreased 11.6% to $121.2 million, from $137.2 million. One bright spot was e-commerce, where sales rose 25%.

  • New CFO at Hhgregg

    Hhgregg has added Robert J. Riesbeck to its executive team as CFO, as part of the retailer’s continued focus on transforming the business.

    Riesbeck has more than 25 years of experience in financial and operations management. Most recently, he served as operations executive/group CFO at Sun Capital Partners where he was responsible for financial and operations oversight of a diverse group of portfolio companies with combined revenues exceeding $5 billion.

  • Kroger beats Street with Q2 earnings, sales

    Cincinnati – The Kroger Co. beat Wall Street expectations with strong net earnings and sales results for the second quarter of fiscal 2014. Net earnings rose 9% to $347 million from $317 million, while total sales increased 12% to $25.3 billion compared to $22.7 billion for the same period in the prior year.

  • Cherokee National Businesses Woodmont Outlets propose $80 million upscale outlet shops in Tulsa

    CATOOSA, Okla. — Cherokee Nation Businesses has partnered with commercial real estate developer Woodmont Outlets, an affiliate of The Woodmont Company, to potentially locate a new upscale retail development at Hard Rock Hotel & Casino Tulsa.

    CNB has agreed to lease property west of the casino to Woodmont Outlets, which plans to invest $80 million into premium outlet shops to be called “Cherokee Outlets.”
     

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