Strategy

Anaheim, Calif. -- Pacific Sunwear of California Inc. reported a loss of $3.5 million in its fiscal first quarter, missing Street expectations.
 
The teen clothing retailer had revenue of $166.5 million in the period, also short of expectations. Same-store sales fell 2%.

In what has become a familiar industry tale, the Belk department store chain’s investments in omnichannel drove first quarter sales growth but negatively affected profits.

Higher prices for generic drugs contributed to a net loss of $29,000 for Fred's in the first quarter.

New Albany, Ohio – Abercrombie & Fitch Co. posted a wider-than-expected loss and drop in revenue for its first quarter. But the teen apparel retailer, which is in the middle of a brand update to improve its controversial image, sounded a positive note, noting that its comparable sales continued to improve in May and that it expects sales to continue to improve in the second half.

New marketing efforts at Express appear to be resonating with customers, as the retailer posted a strong first quarter performance.

Hamilton, Bermuda – Signet Jewelers Ltd. topped Wall Street earnings estimates for the first quarter of fiscal 2016. Signet earnings rose 10% to $118.8 million, from $96.6 million the same quarter the previous fiscal year.

Total sales were $1.53 billion, up 45% compared to $1.06 billion. The increase was primarily driven by the addition of the Zale division. Same-store sales increased 3.6%. E-commerce sales were $76.9 million, up 98.7%, with Zale e-commerce sales a major driver.

The Walmart Foundation is investing in job training efforts in Florida by giving more than $1 million in grants to 21 nonprofits across the state.

"Through these grants, more than 20 deserving nonprofit organizations will be able to continue funding vital local programs across the state,” said Senate President Andy Gardiner. “Thanks to Walmart and the Walmart Foundation for recognizing the impact these programs have on so many lives. We appreciate their continued investment in communities throughout Florida."

Irvine, Calif. – A lower tax rate and slowed growth in cost of sales and selling, general and administrative (SG&A) expenses helped Tilly’s Inc. more than double net income to $1.3 million in the first quarter of fiscal 2015, compared to $600,000 the same quarter a year earlier.

Total net sales were $120.2 million, an increase of 8% compared to $111.1 million. Same-store sales rose 2%.