Finance & Capital Management

Memphis, Tenn. – Fred’s Inc. expects to report a net loss of $0.15 to $0.20 per share. The discount chain cited transitional costs associated with implementing its convenience center model, as well as vendor-related cost pressures on pharmacy, as driving the negative profit growth.

However, not all the financial news was bad for Fred’s in the second quarter. Compared to same period a year earlier, Fred’s total sales grew 2% to $490.6 million, from $482.2 million. Same-store sales declined 0.1% for the quarter.

New York -- Less than 30% of middle-market retailers have websites optimized for mobile purchases, according to a national survey of C-suite executives by GE Capital. Currently, middle market retailers conduct 16% of their transactions online and about half expect the proportion of online transactions to increase in the next 12 months. (GE identifies middle-market retailers as ranging from $10 million to $1 billion in annual sales).

New York – Barnes & Noble Inc. and Google Inc. are reportedly teaming up on a pilot of same-day delivery of book orders from local Barnes & Noble stores in several U.S. cities. According to the New York Times, customers in Manhattan, West Los Angeles, and the San Francisco Bay area can have online book orders fulfilled from nearby Barnes & Noble locations via the Google Shopping service.

The retail industry and many of those who work at Walmart are going to get a double shot of Greg Foran next week. The former international executive assumes his new role as CEO of the Walmart U.S. division as the retailer prepares to release second quarter results and host a major U.S. manufacturing summit.

Despite reporting a second-quarter sales increase of 5% and a digital sales increase of 9% — with mobile representing 15% of its total sales — HSN missed Wall Street expectations for its net income thanks to a 5% drop from $43.3 million a year earlier to $40.9 million for the quarter.

Overall net sales grew 5% over the prior year to $855.2 million.

Seattle – Online specialty retailer Zulily beat Wall Street expectations by almost doubling its net earnings and sales in the second quarter of fiscal 2014, compared to the second quarter of the previous fiscal year. Net income rose 95% to $7.8 million from $4 million, while net sales increased 97% to $285 million.

Zulily attributed its overall strong performance to improved mobile sales, with mobile devices now accounting for 47% of North American sales, a growing customer base, and higher average order values.

Big name CPG companies Procter & Gamble and Kraft struggled to show growth with their recent quarterly results, but that wasn’t the case at White Wave Foods.

New York – Ann Inc. expects to report a 2.3% decline in consolidated same-store sales for the second quarter of fiscal 2014. Total company net sales are now expected to be $648 million.