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Finance & Capital Management

  • Grocer serves up 13th consecutive quarter of same-store sales gains

    Weis Markets saw its sales and income increase in its second quarter.      The company’s net income in the quarter totaled $18.5 million, a 21% increase over the year-ago period. Operating income rose 15.2% to $27.7 million, compared with $24.1 million in the same period last year.    Sales rose 20% to $876.6 million. Same-store sales rose 2.7%, after adjustment for the Easter holiday shift.   
  • Specialty retailer strikes upbeat note

    Party City topped earnings estimates for its second quarter and said it is on track to deliver its full year total revenue and earnings guidance.    The party supplies retailer and wholesaler reported net income of $25.0 million in the quarter, compared to $22.5 million in the year-ago period. Earnings, adjusted for non-recurring costs, came to 28 cents per share, topping Wall Street expectations  
  • Publix Q2 sales, earnings rise; cuts stock price

    Florida's largest supermarket chain on Tuesday reported higher sales and revenues for its second quarter. Prior to releasing its results, the company cut the price of its stock.   Publix’s sales in the second quarter rose 3.6% to $8.4 billion, from last year’s $8.1 billion. Same-store sales increased 1.6%.      Net earnings increased 3.5% to $495.1 million, compared to $478.2 million in the year-ago period.    
  • Costco co-founder, chairman dies

    A retail legend has passed.   Costco Wholesale Club announced "with great sadness" that co-founder and chairman Jeff Brotman died Tuesday morning. He was 74.   "The thoughts of Costco’s board, management and employees are with Jeff’s wife and family,” Costco said in a short statement.    Brotman co-founded Costco Wholesale with Jim Sinegal. The two opened the first Costco warehouse club location in 1983, in Seattle.
  • Sporting goods giant cuts full-year outlook and jobs amid Q2 loss

    After several years of explosive growth, Under Armour is hunkering down amid increased competition and weaker demand. And the brand, best known for its performance edge, is putting a new emphasis on lifestyle.  
  • Promotion at Nest

    Nest, a leading consultative advisor and technology provider specializing in multi-facility maintenance and construction services, announced the promotion of James Porreca to director of estimating and construction.    Due to recent growth and client demands, Nest made the commitment to add a new division to the company that will help serve their clients’ needs in a more enhanced way.  
  • New Market closes on 34th center

    Formed just three years ago, an aggressive acquirers of grocery-anchored centers has purchased its 34th property.   New Market Properties, a wholly-owned subsidiary of Preferred Apartment Communities, has acquired Irmo Station, a Kroger-anchored center in Columbia, South Carolina. The company targets high-yield suburban markets in Texas and the mid-Atlantic and Southeast regions and market-leading grocery anchors such as Publix, Kroger, and HEB.  
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