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Finance & Capital Management

  • PetSmart Q4 profit up 31%; outlook disappoints

    Phoenix -- PetSmart Inc. reported a 31% increase in its fiscal fourth-quarter profit, helped by an extra week of sales. But its forecast for this year disappointed investors.

    The company earned $134 million for the quarter ended Feb. 3, up from $102 million in the year-ago period.

    Revenue rose 15% to $1.88 billion from $1.64 billion, helped by an extra week of sales in the more recent quarter. Same-store sales rose 4.6%.

    For the full year, PetSmart’s revenue rose 11% to $6.8 billion.

     

  • Bad weather doesn't rain on Stein Mart's Feb. sales

    JACKSONVILLE, Fla. — Stein Mart reported that its total sales for the month of February were $85.2 million, an increase of 5.6% over total sales of $80.7 million for the four-week period ended Feb. 25, 2012. Comparable-store sales for the month increased 0.6%.

  • Alexander McQueen to open on Madison Avenue

    New York -- SL Green Realty Corp. announced Wednesday that fashion retailer Alexander McQueen has signed a 15-year lease for a mid-block retail space at 747 Madison Avenue.   

    The tenant is expected to move into the space during third quarter 2013.
     
    The retail co-op interest at 747 Madison is owned by a joint venture that includes SL Green, Jeff Sutton and Harel Insurance Co.

     

  • Gap’s February Q4 same-store sales rise 3%, topping estimates

    New York -- Gap Inc. said Thursday that its February same-store sales rose a better-than-expected 3% for the four weeks ended Feb. 25. Analysts expected a 2% increase.
       
    The chain was due to release the sales figures after the market closed, but put them out at midday after they were found in a leaked transcript of prerecorded comments.

    By division, same-store sales rose 2% at Gap and 6% at Old Navy. They fell 5% at Banana Republic.

  • Rue21 legal head takes on additional responsibilities

    WARRENDALE, Pa. — Specialty apparel retailer Rue21has announced that Stacy Siegal, the company's current VP, general counsel and corporate secretary, has been promoted to the additional position of chief administrative officer. Siegal will continue to report directly to Bob Fisch, the company's president and CEO.

  • Retail Rap: Office Surprise

    I have to admit, the recent announcement of the merger between Office Depot and OfficeMax took me by surprise. It’s not as though it doesn’t make sense — it’s logical both logistically and financially — but, while there had been a few rumblings and rumors, this is a dramatic move that took place with relatively little forewarning.

  • American Eagle Q4 profit nearly doubles, but warns of weaker sales ahead

    Pittsburgh -- American Eagle Outfitters Inc. reported Wednesday that profit for the quarter ended Feb. 2 soared to $94.8 million from $51.3 million in the year-ago period, aided by few markdowns.

    However, the retailer warned that sales will be weak in the first quarter due to economic restrictions and unfavorable weather.

  • Ahold chairman to step down

    AMSTERDAM — Rene Dahan will step down as Royal Ahold's board chairman in October, the Dutch supermarket operator said Wednesday.

    Netherlands-based Ahold — which operates the Stop & Shop, Giant-Landover and Giant-Carlisle chains and the Peapod online grocery service in the United States through its Ahold USA subsidiary — said that Dahan would step down after serving on the company's board since 2004. The company plans to propose at its shareholder meeting the appointment of Jan Hommen as Dahan's successor.

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