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Corporate Governance

  • Dollar General Q2 profit tops Street, on track to open 730 stores

    Goodlettsville, Tenn. — Dollar General posted better-than-expected earnings for the second quarter, but came up short on sales, even amid strong demand for tobacco products and other consumables.

    The discounter reiterated plans to open approximately 730 stores in 2015, and relocate or remodel 875 units. To date, the company is on track with its pipeline development to accelerate new store openings to 7% square footage growth in 2016.

  • Destination XL sees more opportunity for expansion

    Canton, Mass. — Specialty men’s retailer Destination XL Inc. reported Thursday that it shrank its net loss in the second quarter.

    The company also raised its potential store count from 250 to 400. As a result, the retailer expects to open 30 to 40 DXL stores per year through fiscal 2020.

    During fiscal 2015, Destination XL plans to open approximately 30 DXL retail and eight DXL outlet stores and close approximately 41 Casual Male XL and three Rochester clothing stores.

  • Tilly’s misses Street in Q2

    Irvine, Calif. — Tilly’s Inc. missed Wall Street expectations by falling profit and increasing revenue in a mixed second quarter of fiscal 2015. Net income fell 54%, from $1.3 million to $600,000, with a tax settlement hindering profitability.

    Total net sales fared better, rising 6%, from $123 million to $130 million. Same-store sales — including e-commerce — climbed 0.5%.

    Despite missing Wall Street forecasts and declining profit, President and CEO Daniel Griesmer said he was pleased with results for the quarter.

  • Iconic, 100-years plus American brand opens store in birthplace

    Detroit —  Work wear brand Carhartt on Thursday opened a flagship in Detroit, the city where it was founded in 1889.  

  • Candy, tobacco help lift Dollar General's sales

    Dollar General grew customer traffic and average ticket for the 30th consecutive quarter even as the company refocuses on efforts to strengthen topline growth.

  • West Elm branches out into pop-ups

    In a first, West Elm, a Williams-Sonoma subsidiary, will make its products available outside of the brand’s own stores and website.

  • Gap to end controversial scheduling practice

    San Francisco — Gap Inc. is the latest retailer to say it will cease the practice of assigning store employees on-call shifts with little advance notice.

    Gap joins other chains such as Abercrombie & Fitch and Victoria’s Secret in pledging to eliminate the practice from its stores.

  • Fred’s losing streak continues

    Memphis —  Fred’s Inc. remained unprofitable for its fifth consecutive quarter as pharmacy continued to weigh the chain down.

    Fred’s reported a bigger-than-expected net loss of $4.9 million in the second quarter, down from $16.4 million for the same period last year. 

    Reductions in the percent of revenue represented by cost of goods sold and selling, general and administrative expenses helped shrink net loss.

    Net sales grew 10%, from $491.18 million to $546.08 million, while same-store sales grew 0.9%.

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