Strategy

Increased advertising to support brand differentiation ate into second quarter profits at snack maker Snyder’s-Lance, but the company expects the investment to pay off during the second half of the year.

Snyder's-Lance, Inc. said sales increased 9.9% to $439 million from $399 million and profits, excluding non-recurring items, increased 12.6% to $16.9 million, or 24 cents a share, compared to $15 million, or 22 cents a share. Earnings per share were four cents below analysts’ consensus estimate.

Woonsocket, R.I. — CVS Caremark is reportedly planning to re-enter the metro Toledo, Ohio, market by snapping up parcels of property, according to a local news report. The Blade is reporting that the pharmacy retailer bought land on Monroe Street near Douglas Road, where it plans to open its first drug store since exiting the market in 2001.

Citing Lucas County real estate records, the newspaper reports that the company bought eight parcels of property totaling 1.5 acres. The total price for the property was $2.2 million.

NEW YORK — Delia’s, a multichannel retailer that primarily markets to teenage girls, has hired Daphne Smith as the company’s EVP of operations, reporting to CEO Tracy Gardner.

Smith was previously with J.Crew for 16 years, working in various roles including SVP of direct. She has spent the past 18 months at New York & Company as the company’s SVP of e-commerce.

Woonsocket, R.I. -- CVS Caremark Corp. reported a 16% profit jump for its fiscal second quarter, but the drug store operator has dropped the top end of its 2013 earnings forecast to just below Wall Street expectations.

CVS earned $1.12 billion in the second quarter, well above its year-ago profit of $966 million. Revenue rose 1.7% to $31.25 billion, surpassing the $31.14 billion forecast.

Pittsburgh – American Eagle Outfitters is lowering its earnings outlook for the second quarter of fiscal 2013 due to what the retailer characterizes as weak sales and margins. The company now forecasts earnings per share (EPS) for the quarter of about $0.10, down significantly from $0.21 in the second quarter of last year.

Fort Worth — Market Street – The Woodlands, a mixed-use project north of Houston is welcoming four new tenants. Kate Spade will open a 1,907-sq.-ft. designer fashion store this fall. Also coming this fall are two more clothing stores: a 2,500-sq.-ft. Lucky Brand and a 3,719-sq.-ft. Vineyard Vines.

Just two weeks ago, Tumi opened a travel, business and lifestyle accessories shop.

New York -- Tween apparel retailer Delia’s has hired Daphne Smith as the company’s executive VP operations, reporting to CEO Tracy Gardner.

Smith was previously with J. Crew for 16 years, working in various roles including senior VP of direct. She has spent the past 18 months at New York & Company as the company’s senior VP e-commerce.

Global luxury lifestyle brand Michael Kors Holdings Limited had an exceptional fiscal 2014 first quarter ended June 29 with a total revenue of $641 million, a 54.5% increase from $414.9 million in the first quarter of fiscal 2013.

Retail net sales increased 51.5% to $325.7 million driven by a 27.3% increase in comparable store sales and 75 net new store openings since the end of the first quarter of fiscal 2013. Wholesale net sales increased 59.3% to $290.6 million and licensing revenue increased 40.7% to $24.6 million.