Finance & Capital Management

Higher sales, including mid-single digit comparable -sales growth, helped drive Ann Inc.’s third quarter results.  

The company posted third-quarter earnings of $41.2 million, compared to $40.7 million in the year-earlier quarter. Net sales grew 7% to $657.3 million from $612.5 million. Total same-store sales increased 3.7%. By brand, same-store sales inched up 0.6% at Ann Taylor and 5.6% at Loft. However, sales fell 6.9% in the Ann Taylor Factory channel.

Kirkland’s plans to continue investing in its e-commerce business and anticipates executing a more aggressive approach to store growth, following strong third-quarter results.

The company reported net sales for the third quarter ended Nov. 2 of $106.1 million, a 9.8% increase from $96.7 million for the year-ago quarter. Comparable-store sales, including e-commerce sales, for the quarter increased 4.9% compared with a decrease of 4.7% in the year-ago quarter.

Seattle – The Second Circuit U.S. Court of Appeals in New York has reportedly ruled that Starbucks baristas must share their tips with supervisors. According to the Associated Press, the ruling supports a lower court finding that baristas at Starbucks must share tips with shift supervisors, since the supervisors do much of the same work as the baristas.

Canton, Mass. – Men’s big-and-tall apparel retailer Destination XL reported a loss of $4.1 million in the third quarter of fiscal 2013, up from $1.6 million a year earlier.

Net sales dropped fractionally to $88.2 million from $88.7 million, partially offset by a 4.4% increase in same-store sales.

Crest Hill, Ill. — Mid-America Real Estate Corp.’s Net Lease Investment Group recently brokered the sale of a two-tenant 88,000-sq.-ft. retail building leased to Big Lots and Home Owners Bargain Outlet in Crest Hill, Ill. A private investor in California purchased the property from a local Chicago area investor for $2.25 million.

Major retailers surrounding the property include Jewel/Osco, Ultra Foods, Food 4 Less and TJ Maxx.

Rockville, Md. — TitleMax, a title lending company, and Curry in a Hurry have signed leases in the Washington, D.C., metropolitan area, according to Divaris Real Estate, which represented both tenants in the transactions.

TitleMax took 1,850 sq. ft. in Manassas Park Center in Manassas Park, Va. TitleMax has more than 1,000 stores in 12 states.

Curry in a Hurry leased 1,706 sq. ft. in Southbridge Plaza in Dumfries, Va. Curry in a Hurry joins Quiznos, Five Guys, Pizza Boli’s and Mandrian Court.

Despite its continuing turnaround efforts, Sears Holdings widened its loss in the third quarter after sales fell at both Sears and Kmart.

The company reported a net loss for the quarter ended Nov. 2 of $534 million, or $5.03 a share, from $498 million, or $4.70 a share, a year earlier.

Jacksonville, Fla. -- Stein Mart reported a return to profit in the third quarter, recording net income of $28,000 for the period ended Nov. 2, compared with a loss of $1.7 million last year. Results matched Wall Street expectations.

Revenue climbed 6% to $290.5 million from $273.7 million, topping Wall Street's estimate of $287.9 million. Same-store sales rose 4.8%.