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Finance & Capital Management

  • Online retail continues to show strength

    RESTON, Va. — U.S. online retail recorded its eleventh consecutive quarter of positive year-over-year growth and seventh consecutive quarter of double-digit growth, according to ComScore.

    U.S. online retail spending reached $43.2 billion for the second quarter, up 15% over a year ago, according to ComScore.

  • Former Sports Authority CEO named chair of RYU

    Las Vegas -- Former Sports Authority chief David Campisi has been named chairman and CEO of Respect Your Universe, a performance apparel company.

  • Express eyes international growth

    Specialty retailer Express expects to have its first stores in Latin America open by year end.

  • Express to open 30+ Central and South American stores over 5 years

    Columbus, Ohio -- Express said Friday that one of its subsidiaries has entered into a franchise agreement with Fastco Commercial S.A., a retail franchise operator, to open more than 30 Express stores over a five-year period in Panama, Peru, Costa Rica, Colombia, The Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras and Nicaragua.

  • Roundy’s grows Q2 profit

    Milwaukee -- Midwestern grocer Roundy’s reported Friday that net income for the quarter ended June 30 rose 6.6% to $18.9 million, compared with $17.7 million in the year-ago period. Sales edged up 1.7% to $996.8 million.

    Same-store sales dropped 3.3%.
     

  • More pain before long-term gain at JCP

    If JCPenney CEO Ron Johnson is concerned by a 21.7% second-quarter same-store sales decline and a worse-than-expected loss, it wasn't evident Friday morning.

    The retailer said sales for the second quarter ended July 28 declined 22.6% to a little more than $3 billion, resulting in a $147 million loss, or 67 cents per share. After adjusting for $159 million in restructuring charges, the company reported a loss of $81 million, or 37 cents per share. The 21.7% comp decline follows a first-quarter decline of 18.9%.

  • J.C. Penney records bigger-than-expected Q2 loss; 22% sales drop

    Plano, Texas -- J.C. Penney Co. reported Friday a bigger-than-expected second-quarter loss of $147 million, compared with net income of $14 million in the same period last year.

    Sales plummeted 22% to $3.02 billion from $3.9 billion, and same-store sales tumbled 21.7% after an 18.9% fall in the first quarter. Wall Street had forecast revenue of $3.2 billion.

    Facing the investment community on Friday, CEO Ron Johnson admitted to some strategic pricing mistakes, but said he and his team will stay the course.

  • Martha Stewart Living seeks to appeal court ruling in Macy’s favor

    New York -- Martha Stewart Living Omnimedia Inc. filed a notice of appeal in a lawsuit by Macy's Inc. in New York State Supreme Court in Manhattan, Bloomberg reported.

    Macy’s sued Martha Stewart Living in January to stop the company from executing a sales agreement that it announced in December with J.C. Penney Company.  Macy’s said it had the exclusive right to sell Martha Stewart-branded products in certain categories.

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