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Finance & Capital Management

  • Walmart Canada opens first of nine Maritime supercenters

    Saint John, New Brunswick -- Walmart Canada grand-opened a 129,000-sq.-ft. superstore in Saint John, New Brunswick, on Friday, the first of nine “Maritime Supercenters” planned for the country by Jan. 31, 2014, said the retailer.

    The newly redeveloped store, which signals the launch of Walmart Canada’s Maritime sourcing program for produce, features a fresh grocery section that will serve as a prototype for all Maritime supercenters.

  • Softer-than-expected Q2 comp-store sales for Hibbett

    BIRMINGHAM, Ala. — Hibbett Sports reported a weaker-than-expected comparable-store sales increase of 0.3% for the second quarter ended Aug. 3, compared to a 4.8% increase in the prior-year period.

    Last year's second quarter benefited from the extra week in the fiscal calendar which resulted in approximately $12 million of sales.

  • Destination XL Group swings to loss in Q2, revises guidance

    Canton, Mass. -- Big and tall men’s apparel retailer Destination XL Group recorded a $1.6 million loss in the second quarter, compared with a profit of  $1.2 million in the year-ago period.  Sales dipped 3% to $97.6 million from $100.5 million, and same-store sales rose 6.9%.

  • Gap raises outlook as Q2 profit surges 25%; bringing Old Navy to Shanghai

    San Francisco -- A resurgent Gap Inc. reported that its second quarter profit jumped 25% on strong sales of denim and other goods at its namesake and Old Navy brands. And bucking a trend set by other retailers, the company raised its full-year earnings guidance. Gap also detailed upcoming expansion plans.

  • CNBC brings star power to sourcing summit

    Financial network CNBC’s top anchor Maria Bartiromo took her show “Closing Bell” on the road this week to broadcast live outside the auditorium at the Orlando convention center where Walmart convened its domestic manufacturing summit.

  • Wal-Mart pushes ‘made in America’ at first-ever domestic sourcing summit

    Bentonville, Ark. -- Wal-Mart Stores on Thursday brought together retailers, suppliers and government officials to figure out how they could work together to drive more manufacturing in the United States.

  • Jo-Ann appoints SVP for store ops

    HUDSON, Ohio — Jo-Ann Fabric and Craft Stores has appointed Tom Williams to SVP of store operations and human resources, replacing Ken Haverkost.

    Haverkost announced his retirement as EVP of store operations, a position he held since joining the company in 2007. He will remain a part-time employee through March 2014 to assist in the transition process.

  • Ross Stores has better-than-expected Q2

    PLEASANTON, Calif. — Ross Stores credited strong sales and merchandise gross margin for its better-than-expected results for the second quarter ended Aug. 3.

    The company reported earnings per share of $.98, up from $.81 for the prior-year quarter — a 21% increase on top of a 27% gain in last year's second quarter. Net earnings for the 2013 second quarter grew to $213.1 million, up 17% from $182 million in the prior year.  

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