Strategy

Exiting Canada may have taken a bite out of Big Lots’ profits in the first quarter, but the company still saw net and comparable-store sales increase.

Net sales for the quarter increased 1.1% to $1.28 billion, compared to net sales from continuing U.S. operations of $1.26 billion for the same period last year. Comparable-store sales for stores open at least 15 months increased 0.9% for the quarter.

Bronx, N.Y. — Triangle Equities has reached several milestones in the development of the $35 million, 88,000-sq.-ft. Triangle Plaza Hub at 149th Street in Bronx, New York. The development aims to help revitalize a generally underserved area with a mixed-use commercial and community facility located at a transit center that serves 200,000 people daily. Vista Optical has also leased space.

To date, Triangle’s accomplishments include signing two key anchor tenants: Fine Far supermarket and Metropolitan College of New York.

Thought-provoking presentations and forward-looking exchanges dominated the annual gathering of the Global Retail Marketing Association’s (GMRA) Executive Leadership Forum at the Don Cesar resort on St. Petersburg Beach, Fla.
 

New York - Imports to the U.S. were up in April from March. According to data from supply chain research firm Panjiva, April 2014 showed levels of imports that were 9% higher than imports in April 2013. The numbers of these shipments coming into the U.S. changed 11% from March 2014 to April 2014.

Goodlettsville, Tenn. -- Keep it simple — that’s secret to Dollar General's success Rick Dreiling, chairman and CEO of the 75-year-old company said at its shareholders annual meeting.

"Simple neighborhood stores, simple, frequently-needed items and everyday low prices," he said. "For 75 years, [Dollar General has focused] on helping low- and middle-income families save money and save time by offering quality, basic merchandise at affordable prices in convenient, small-box neighborhood stores."

Columbus, Ohio – Expenses related to exiting its Canadian operations substantially reduced net earnings for Big Lots Inc. in the first quarter of fiscal 2014. Compared to the first quarter of fiscal 2013, net income fell 90% to $3.35 million from $32.33 million.

Net sales rose 1% to $1.28 billion, from $1.27 billion. Same-store sales rose 0.9%. Big Lots forecasts same-store sales growth of 1%-3% in the second quarter of fiscal 2014, and 1%-2% in the full fiscal year.

New York - A pre-tax restructuring charge of $17.3 million during first quarter 2014 in connection with its previously announced strategic realignment was a major factor in a year-over-year net income decline at Ann Inc. Net income for the quarter totaled $5.2 million, down 66% from $15.4 million in the first quarter of the previous fiscal year.

Total net sales for the first quarter of fiscal 2014 were $590.6 million, up 3% increase from sales of $574.5 million in the year-ago period. Total same-store sales dropped 1.8%.

The Men’s Wearhouse expects to close on its acquisition for Jos. A. Bank in the next 30 days after the Federal Trade Commission determined the deal doesn’t violate antitrust laws.

Men's Wearhouse agreed to pay $65 a share for Jos. A. Bank earlier this year in a deal valued at $1.8 billion that will create a company with more than 1,700 stores and pro forma annual sales of $3.5 billion.