Finance & Capital Management

Dollar General Corp. missed Wall Street projections for sales in its third quarter, but the chain came out on top again in its earnings. It also named a permanent CFO.

The discounter on Thursday posted its fifth consecutive quarter of double-digit earnings growth. It was the third consecutive quarter that Dollar General beat the Street's projection for earnings.

A pullback in promotions, reduced catalog circulation, and unseasonably warm weather helped make for a very disappointing third quarter for Lands' End, whose effort to turnaround its business is having trouble taking hold.

The apparel retailer's sales fell 10% to $334.4 million in the quarter ended Oct. 31, compared to $373.1 million last year.

Net income fell 41% to $10.7 million, compared to $18 million in the third quarter last year.

Express continues to make all the right moves, reporting better than expected results for its third quarter and raising its 2015 outlook.

The specialty apparel retailer reported a profit of $26.3 million, or $0.31 per share, versus a year-ago profit of $14.6 million, or $0.17 per share.

Revenue rose 9.8% to $546.6 million. Total same-store sales, including e-commerce sales, rose 6%. E-commerce sales climbed 6% to $83.8 million.

The nation’s largest supermarket operator reported profit that surpassed Wall Street expectations and raised its annual forecast.

Kroger Co.’s third-quarter earnings rose 18% to $428 million.

Revenue inched up 0.4% to $25.08 billion for the quarter, ended Nov. 7. missing Street forecasts of $25.22 billion. Kroger cited lower fuel prices as impacting sales.

Same-store sales, excluding fuel, rose 5.4%, more than expected. It was the chain’s 48th consecutive quarter of positive same-store sales growth (excluding fuel.)

Saks Fifth Avenue Off 5th continues to expand north of the border.

The off-price retailer and Ivanhoé Cambridge announced an agreement to bring four new Saks Off 5th locations to Canada. The stores, the brand’s first in their respective markets, will open in four Ivanhoé Cambridge shopping centers: Tsawwassen Mills, Tsawwassen, B.C., Outlet Collection Winnipeg; Place Ste-Foy, Quebec City; and Montreal Eaton Centre, Montreal.

Here are the details on the four locations:

The chief executives of H&M, Gap Inc. and five other apparel companies are urging world leaders to agree to a strong climate change deal because they fear global warming will drive up their costs by having a negative impact on cotton production, Reuters reported. [Reuters]

Sears Holdings Corp. is doing a much better job at cutting costs than at stopping its sales decline.

The retailer’s total revenue in the third quarter, ended Oct. 31, fell 20% to $5.75 billion, from $7.21 billion in the year-ago period, amid store closings and divestitures and a drop in apparel and consumer electronics sales. (Sears had 1,687 stores at the end of the quarter, down from 2,249 a year earlier.)

Total same-store sales were down 8.6%. Kmart same-store sales declined 7.5%. Sears domestic same-store sales fell 9.6%.

Michaels says its new marketing and merchandising strategies are resonating with customers, as the arts and crafts retailer reported an uptick in same-store sales for the third quarter.

The retailer said comps increased 3.1% in the period ended Oct. 31. Sales rose 3.4% to $1.17 billion. The company posted a profit of $76.8 million, or 37 cents per share, compared with $64.1 million, or 31 cents per share a year prior.

Everything old is new again at American Eagle Outfitters, apparently with good reason.

The teen apparel retailer on Wednesday named Jay L. Schottenstein as CEO,  effective immediately.   Schottenstein, who has served as interim chief  since January 2014, will also continue in his role as executive chairman of the board. The news of  his appointment came as the retailer reported a strong increase in its third quarter earnings.  It was the chain’s third consecutive quarter of increased sales and profits.

The chief executives of H&M, Gap Inc. and five other apparel companies are urging world leaders to agree to a strong climate change deal.

The leaders say they fear global warming will drive up their costs by having a negative impact on cotton production, Reuters reported. 

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