Strategy

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

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

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.

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.

San Diego - PriceSmart Inc. demonstrated intelligence when it comes to sales in August 2015. The U.S.-based operator of warehouse club stores in the Caribbean and Latin America increased net sales 13% to $232.7 million from $206.7 million in August a year earlier.

Same-store sales rose 3%. PriceSmart will release fourth quarter and fiscal year 2015 results on Oct. 29.
 

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.

New York -- Barnes & Noble on Wednesday reported its fifth straight quarter of sales declines. But the CEO sounded a positive note, telling the Wall Street Journal that the retailer is looking at a new store prototype.

“The industry is evolving, and we think there are opportunities ahead with a different format,” CEO Ronald Boire told the Wall Street Journal on Wednesday. “I’ve sat in on a couple of meetings about this and we’ll have more to discuss later.”

In the name of optimizing its omnichannel approach, Macy's said it plans to close between 35 and 40 department stores at undisclosed locations in early 2016 while moving ahead with expansion of its off price format.