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Strategy

  • Aeropostale profit drops in Q2; lowers guidance

    New York -- Aeropostale reported Friday that net income for the second quarter was $100,000, compared with $2.9 million last year.

    Sales increased 4% to $485.3 million, from $468.2 million in the year-ago period. Same-store sales, including the e-commerce channel, were essentially flat, compared with a 12% decrease last year. Excluding e-commerce, same-store sales dipped 1%, compared with a 14% decrease last year.

    The company has lowered its third-quarter guidance.
     

  • Casual Male net income slides; to speed rollout of DestinationXL

    Canton, Mass. -- Casual Male Retail Group said Friday that second-quarter profit dropped to $1.2 million, from $6.6 million in the year-ago period. Total sales were flat at $100.5 million, and same-store sales edged up 2%.

    However, continuing strength from the DestinationXL stores vs. the Casual Male XL locations is prompting the company to focus on growing the former.

  • Sustainability efforts earn Kimberly-Clark A+

    The Global Reporting Initiative bestowed its highest accolade on Kimberly-Clark’s 2011 sustainability report.

  • Hibbett profit rises 33% in Q2; on track to open 55-60 stores in fiscal 2013

    Birmingham, Ala. -- Hibbett Sports reported Friday that net income for the quarter ended July 28 surged 32.9% to $7.9 million from $5.9 million in the comparable-year period.

    The retailer reported a net sales increase of 8% to $165.4 million compared with $153.1 million for the same period last year. Same-store sales increased 4.8%.

    The company increased its earnings guidance for fiscal 2013 and said it is on track to open 55 to 60 new stores, expand approximately 15 high performing stores and close up to 18 underperforming stores.

  • Stein Mart Q2 net income meets Street's view

    Jacksonville, Fla. -- Stein Mart reported Thursday that profit slipped to $730,000 from $1.3 million last year, but second-quarter results managed to meet Wall Street's view, as revenue climbed.
     
    Sales for the period grew 2% to $276.4 million, beating the $275.9 million that analysts expected. Same-store sales rose 1.6%.

     

  • Walmart, Target and others form mobile payments group

    Merchant Customer Exchange is the name of a new mobile payments group in which Walmart and other leading retailers are involved.

    Expectations are high that mobile payments represent the future of commerce and group of leading retailers this week formed a new organization to offer an alternative way to pay.

    The group is called the Merchant Customer Exchange and currently consists of 14 retailers. Plans call for development of a payment application available for smartphones that offers secure technology to process transaction.

  • Macy’s sues J.C. Penney over Martha Stewart agreement

    New York -- Bloomberg reported Thursday that Macy’s Inc. has filed suit against J.C. Penney Co. in New York state court over the rights to sell products branded by Martha Stewart Living Omnimedia Inc. in their respective department stores.

    Macy’s sued Martha Stewart Living in January to stop it from executing a sales agreement with J.C. Penney, as Macy’s claimed an exclusive right to sell Martha Stewart products in certain categories.

  • Ross Stores profit jumps 23%; outlines succession plan

    Pleasanton, Calif. -- Ross Stores Inc. reported Thursday that net income for the quarter ended July 28 jumped 23% to $182 million, from $148.3 million in the year-ago period. Results met Wall Street expectations, but the company issued profit predictions for the current quarter and full year that were below average forecasts. Same-store sales rose 7% in the quarter.

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