Finance & Capital Management

Houston – Rising expenses resulted in falling profits at Francesca’s Holdings Corp., which plans to slow its store expansion going forward.

Francesca’s net income fell 10% to $9.3 million in the second quarter, from $10.3 million the prior year period.

Rising boutique and payroll expenses related to new store openings were the primary factor in decreasing Francesca’s profits. However, new store openings also helped drive a 9% increase in net sales, to $106.03 million from $97.02 million.

New York – What’s in a name? When that name is Tiffany, as Costco discovered, potentially some hefty financial penalties.

Federal judge Laura Taylor Swain has ruled in favor of Tiffany & Co. in a suit the luxury retailer initially brought against Costco Wholesale Corp. in February 2013. The civil suit sought damages for what Tiffany said were fake “Tiffany” engagement rings Costco sold at one of its stores in Huntington Beach, California.

Ankeny, Iowa – Cost controls helped Casey’s General Stores Inc. boost profit even as revenue fell in its first quarter.

Net earnings grew 23% to $61.8 million from $50.1 million, driven by a significant decline in cost of goods sold.

Total revenue dropped 10% to $2.05 billion, from $2.29 billion. Fuel price volatility negatively impacted revenue results.

Casey’s annual goal is to build or acquire 75 to 113 stores, replace 10 existing locations and perform major remodels on 100 existing locations.

Anaheim, Calif. – Pacific Sunwear of California Inc. is launching a major expense reduction initiative in the wake of disappointing second quarter results.

New York -- Two very different retail companies have filed for Chapter 11 bankruptcy protection.

Supermarket retailer Haggen filed for bankruptcy after struggling for months to digest a huge acquisition that has proved troublesome from the start. Surfing and skate apparel chain Quiksilver Inc. also sought protection, a victim of online competition, fast-fashion merchants and teens’ fickle tastes.  

Here is more information on both:

A week after suing Albertsons for $1 billion, west coast regional grocer Haggen has filed Chapter 11 and continues to cite Albertsons as the source of its difficulties.

A California-based teen retailer is launching a major expense reduction initiative in the wake of disappointing second quarter results.

The CEO of Men’s Wearhouse Inc. says the company is well-positioned to implement its growth strategy despite lackluster second quarter results and a struggling Jos. A. Bank unit.

Conn’s is selling off much of its consumer debt and appointing a new CEO as the specialty retailer looks reposition its business.

In a series of strategic moves designed to shore up its ailing consumer finance business and restore investor confidence, Conn’s has named Norman Miller as its new CEO, entered into an agreement to securitize $1.4 billion of retail installment contract receivables, and received board authorization to repurchase up to $75 million of securities, and termination of the stockholders’ rights plan.

On a day when his company reported its fifth straight quarter of sales declines, the CEO of Barnes & Noble sounded a positive note, telling the Wall Street Journal that the retailer is looking at a new store prototype.