Strategy

San Francisco — Gap Inc. posted an 8% decline in its first-quarter profit amid currency fluctuations, merchandise delays from the West Coast ports slowdown, and sluggish sales at its namesake and Banana Republic stores. On a positive note, Old Navy continued its strong performance. 
 

New York – Increases in selling, general and administrative (SG&A) expenses and interest expenses helped increase net loss at New York & Co. to $4.7 million in the first quarter of fiscal 2015 from $300,000 the same period a year earlier. The growing loss occurred as sales improved 2% to $223.4 million from $219.6 million, and same-store sales rose 1.8%.

New York – Ann Inc. beat Wall Street expectations with strong profit growth in the first quarter of fiscal 2015, but revenue growth fell short of the Street’s outlook. 
  The company, which  is being acquire by Ascena Retail Group for $2.2 billion, reported that its net income more than doubled to $13.6 million from $5.2 million the same quarter a year earlier, driven by lower restructuring charges and selling, general and administrative (SG&A) expenses that more than offset a softer gross margin.

Greensboro, N.C. – It was a mixed first quarter for The Fresh Market Inc. as the grocery retailer met Wall Street expectations for profit but fell short on sales. Net income totaled $15.17 million, down 8% from $16.57 million.

Higher operating expenses drove the reduction in net income. Sales increased 7% to $462.04 million from $431 million. Same-store sales dropped 0.1%.

Former Sears and Walgreens finance executive Atul Kavthekar is joining LivingSocial as CFO to help execute the e-commerce company’s ongoing re-invention strategy.

The Fresh Market says its planned exit from California led to higher costs and lower profit in the first quarter, but analysts say the company may be in trouble.

New York — Aeropostale Inc. managed to shrink its net loss in the first quarter of fiscal 2015, even as sales declined. The mall-based specialty retailer reported a net loss of $45.27 million, down from $76.78 million, amid  reductions in selling, general and administrative expenses (SG&A) and restructuring charges helped cut net loss.
   Net sales dropped 19% to $318.6 million from $395.9 million. Same-store sales, including e-commerce, fell 11%.
 

Omaha, Neb. – Gordman’s Stores Inc. swung to net income of $400,000 in the first quarter of fiscal 2015 from net loss of $700,000 in the same period the prior year. Improved control of store, corporate and insurance expenses, as well the paydown of a loan, helped push Gordman’s into the black.