Finance & Capital Management

Jacksonville, Fla. – Body Central swung to a net loss of $9.3 million in the first quarter of fiscal 2014 from net income of $2.7 million a year earlier. Net revenues decreased 26.6% to $59.7 million, compared to $81.4 million for the first quarter of 2013, and same-store sales fell 26.8%.

New York -- Many retailers reported better than expected sales in April, helped by warmer weather and a later-than-usual Easter. Gap Inc., L Brands, Costco Wholesale Club, The Buckle, Stein Mart and Zumiez all came in ahead of analysts estimates.

At Gap Inc., same-store rose a better-than-expected 9% in April. By banner, sales were up 3% at Gap stores, 7% at Banana Republic and 18% at Old Navy. Analysts had expected Gap’s total same-store sales to inch up 0.1%.

Roundy's saw net sales increase by 1.9% to $1 billion, and reported a net loss of $4.5 million compared with net income of $8.6 million.

Fred's plans to implement a long-term marketing strategy stressing everyday low pricing and the convenience of a smaller box to help bolster sales against what the company describes as "intense competitive pressures." The company's pharmacy operations continue to grow, however.

Fred's reported $150 million in sales for the four weeks ended May 3, representing a decline of 1.6% as compared to year-ago sales. For the first quarter ended May 3, sales totaled $498.5 million, down 0.6%.

Boston -- Gordon Brothers Group and Hilco Merchant Resources have, effective May 8, launched the total liquidation of Coldwater Creek brick-and-mortar stores and its website.

The joint-venture team is conducting closing sales at all Coldwater Creek stores and online, offering 30% to 50% off all items.

Fremont, Calif. - In accordance with the terms of its merger agreement with Jos. A. Bank Clothiers Inc., The Men’s Wearhouse has extended its all-cash tender offer for $65 per share for all of the currently outstanding shares of common stock to May 21, 2014, unless further extended. The tender offer was previously set to expire on May 7.

Dublin, Ohio – The Wendy’s Co. reported soaring net income in the first quarter of fiscal 2014 on lower costs and a sharp decline in interest expenses. The company also said it plans to open 60 new corporate and franchised stores, as well as remodel up to 400 corporate and franchised stores.

Wendy’s net income skyrocketed from $2.1 million to $46.2 million, aided by a $15 million year-over-year reduction in interest expense as a result of the company's 2013 debt restructuring.

Sprouts Farmers Market’s president and CEO Doug Sanders credited the company’s focus on offering healthy food at affordable prices for 28 consecutive quarters of positive same-store sales growth as well as record first quarter results that outperformed its targets.