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Fred’s profit rises in Q2
Memphis -- Fred’s reported Thursday that net income for the quarter ended July 28 rose 19% to $6.1 million, compared with $5.1 million in the year-ago period.
Sales rose 4% to $470.8 million from $452.7 million, and same-store sales dipped 1%.
Profit results missed Wall Street expectations, and the discounter has lowered its full-year earnings forecast.
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Essensuals London to make East Coast debut at Cherry Hill Mall
Cherry Hill, N.J. -- Philadelphia-based Pennsylvania Real Estate Investment Trust said that Essensuals London will open a high-end salon – its first on the East Coast – at PREIT’s Cherry Hill (N.J.) Mall property.
The 1,530-sq.-ft. salon will be the third of its kind in the country, and will join recently opened Henri Bendel. Pottery Barn and The North Face are opening in the fall.