Strategy

Dallas –- Tuesday Morning Corp. cut its net loss almost in half to $6.23 million in the first quarter of fiscal 2015 from $12 million in the same period the prior fiscal year. Net sales increased 10% to $202.2 million, compared to $183.7 million.    Same-store sales increased 11%. The retailer credited the turnaround phase of its ongoing transformation program for creating the generally encouraging results.  

Canton, Mass. -- Big & tall men's apparel retailer Destination XL Group announced that it has increased its existing asset-based revolving line of credit with Bank of America, N.A. by $25 million to $125 million.     In addition, the company entered into a new agreement with Wells Fargo Capital Finance for a $15 million five-year senior secured second lien term loan.  

Flower Mound, Texas -- UCR Dallas announced that Luna Grill opened its first Texas location in October, debuting at Riverwalk Market at the northeast corner of FM 2499 and FM 1171 in Flower Mound, Texas.

 

The Mediterranean restaurant leased 2,200 sq. ft. with an outdoor patio. Luna Grill currently has 16 locations in California and Texas, and expects to open more in 2015. 

ABF Freight has done something no other company in the trucking industry has done before.

The Fort Smith, Ark.-based national carrier was awarded the American Trucking Association’s President’s Trophy for the seventh time during the group’s annual safety and human resources conference in Orlando. ABF Freight also received the trucking industry’s most prestigious award in 1984, 1989, 1993, 1998, 2003 and 2010. No other national carrier has earned the award more than five times.

Nashville, Tenn. –- Rent-A-Center has offered to pay for the shipping of the first container of relief supplies as part of the #RetailFightsEbola campaign. RetailFightsEbola is a campaign to combat the spread of Ebola in Liberia launched by Retail Orphan Initiative (RetailROI).   The campaign is rallying retailers, manufacturers and individuals to provide much needed medical and hygienic supplies to Liberia.  

Seattle -– Starbucks Corp. is planning to launch a coffee delivery service in select U.S cities in 2015, the company said during its quarterly investors’ conference call on Oct. 30. The new service will be available to loyalty program members using the chain’s new mobile app.    Starbucks gave few specific details about the service, but the new app, allowing users to order and pay for items, will launch in Portland in December and in other U.S. markets in 2015. 

Off price retailer Tuesday Morning enjoyed an 11.3% surge in its first quarter same store sales as it benefitted from the introduction of new and expanded merchandise categories.