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Finance & Capital Management

  • Tractor Supply plows ahead

    Despite a stagnant economy and drought conditions across large parts of the country, Brentwood, Tenn.-based Tractor Supply Co. reported sales and earnings growth.

    The company posted second-quarter sales of $1.29 billion, up 9.6% from $1.18 billion in the same quarter last year.

    The nation’s largest chain of farm and ranch specialty stores posted earnings of $106.6 million, up 8.3% from $91.2 million in the year-ago period.

  • Fresh & Easy makes corporate staffing cuts

    El Segundo, Calif. -- A Thursday report by Supermarket News said that Fresh & Easy Neighborhood Market has eliminated as many as 40 positions at its corporate offices.

    While the number of layoffs has not been confirmed, sources say it nears 40 jobs, mostly in real estate and store-opening support.
     

  • When the only thing clear is the lack of clarity

    An “exclusive” report from Reuters this week suggests U.S. authorities are poised to put the retail industry under the microscope as a result of Walmart’s bribery scandal in Mexico.

  • Aaron’s exec earns lifetime achievement award

    William Kenneth Butler, COO of the 1,985 unit Aaron’s rent-to-own retail chain, received a lifetime achievement award from the Association of Progressive Rental Organizations (APRO).

    Butler was selected as the 2012 recipient of the Ernie Tally Lifetime Achievement Award for an exemplary career spanning nearly four decades.

  • Sales grow, but profits plunge at Amazon

    Profits at Amazon.com declined 96% to $7 million, or a penny a share, even though sales advanced 29% to $12.8 billion.

    The ongoing build out of Amazon.com’s supply chain infrastructure hurt the company’s overall profitability, but positioned the company to deliver an even better shopper experience in the future. Amazon.com expects to open approximately 18 new warehouses this year.

  • Hudson’s Bay to close most remaining Zellers stores

    Toronto -- Canadian retailer Hudson's Bay Co. said Thursday it will shutter most of the remaining 64 Zellers stores that aren’t being converted to Target locations.

    The Zellers parent sold the majority of the leases to Target Corp. last year. Many of the remaining 64 stores are expected to close by March 2013. Those that aren’t closed could potentially open under another retail banner, said Hudson’s Bay.
     

  • Mega Brands sales up 13% in Q2

    MONTREAL — Toy manufacturer Mega Brands reported that net sales in the second quarter increased 13% to $94.5 million compared with $83.9 million in the corresponding 2011 period.

    Toy sales increased 14% compared to the second quarter of 2011, driven by higher product shipments in the preschool and boys construction categories. Toy sales have increased year-over-year in ten of the last 11 quarters.

    Sales of stationery and ctivities products were up 10%, the fifth consecutive quarter of year-over-year growth in this segment.

  • GNC to establish branded presence on Sam's Club shelves

    PITTSBURGH — GNC recently extended its relationship with Sam's Club, the company announced in conjunction with its second-quarter results.

    Beginning in third quarter 2012, GNC's presence in all Sam's Club locations will incorporate established shelf space with branded signage, adding to the existing rotational assortment program.

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