Finance & Capital Management

Oak Brook, Ill. – U.S. same-store sales dropped 1.4% at McDonald’s Corp. during February 2014, with global same-store sales declining 0.3%.

Other segment same-store results for McDonald’s during the month included a 0.6% increase in Europe and a 2.6% decrease in Asia-Pacific/Middle East/Africa (APMEA). The company cited severe weather and challenging industry dynamics in affecting its U.S. same-store sales performance.

Essen, Germany – German supermarket chain Aldi Nord has selected the SAP for Retail solution portfolio to support its dynamic growth and modernize its retailing. The standard enterprise resource planning (ERP) solution will replace the company’s previous in-house system and will be used to manage retail processes at all company locations, from orders and warehouse management to store deliveries.

New Albany, Ohio – Abercrombie & Fitch is reportedly planning to rebrand its Hollister banner as a fast-fashion retailer. According to the Wall Street Journal, this would entail lowering the prices of merchandise and creating a nimbler, U.S.-based supply chain.

San Diego – During February 2014, net sales at PriceSmart Inc. increased 11% to $182.8 million from $164.7 million in February a year earlier. For the five weeks ended March 2, 2014, same-store sales for the 30 warehouse clubs open at least 13 1/2 full months increased 5.3% compared to the same five-week period the previous year.

There were 32 warehouse clubs in operation at the end of February 2014, compared to 30 warehouse clubs in operation in February 2013.

Severe weather that persisted during the year’s shortest month affected Gap’s February sales results. 

The company reported net sales for the four-week period ended March 1 of $929 million, compared with net sales of $966 million for the four-week period ended March 2, 2013. Comparable-store sales for the month declained 7%, versus last year’s 3% increase.

“While February was clearly a difficult month, we remain focused on executing our global priorities,” said chairman and CEO Glenn Murphy.

Columbus, Ohio – Net income and sales declined at Big Lots Inc. during the fourth quarter of fiscal 2013 as compared to the same quarter in the prior fiscal year. Net income declined 30% to $84.3 million from $120.3 million, while net sales dropped 6% to $1.64 billion from $1.74 billion.

Coupons.com has gone public. The digital promotional platform has priced its initial public offering of 10,500,000 shares of common stock at $16 per share, which is above the reported expected range of $12 to $14.

Coupons.com has also granted the underwriters an option to purchase up to an additional 1,575,000 shares. Shares are expected to begin trading on the New York Stock Exchange today under ticker symbol "COUP."

Goldman, Sachs & Co., Allen & Company LLC, BofA Merrill Lynch and RBC Capital Markets LLC are acting as bookrunners.

New York – Foot Locker Inc. increased net income 16% to $121 million in the fourth quarter of fiscal 2013 from the same period the prior year. Net sales grew 5% to $1.79 billion, from $1.71 billion.

Same-store sales for the quarter grew 5.3%. Looking ahead, the retailer expects to improve same-store sales in the mid-single digits and improve earnings per share by a double-digit percentage in fiscal 2014. Fourth quarter sales and earnings results both beat Wall Street estimates.