Corporate Governance

Snyder’s-Lance is promising an innovation filled product pipeline for 2015 that includes meal-replacement snacks to drive growth for retailers following a pivotal second quarter for the company.

The J.M. Smucker Company has gained entry to a new business segment with the acquisition of privately held Sahale Snacks.

Smucker said it reached an agreement with Seattle-based Sahale to acquire the supplier of nut and fruit snacks to warehouse clubs, convenience stores and grocery retailers. Sahale’s annual sales of $50 million won’t have a material impact on Smucker, whose annual sales last year were $5.6 billion, but the deal does extend Smucker’s reach into new product categories.

Fred’s has brought Craig Barnes and Kelly Ma on board to lead the company’s new sourcing team, as part of the regional discount chain’s efforts to strengthen its overall inventory and buying management capabilities. The company tapped the pair in conjunction with its July sales results.

Big name CPG companies Procter & Gamble and Kraft struggled to show growth with their recent quarterly results, but that wasn’t the case at White Wave Foods.

Despite positive performance through mid-June, the remainder of the second quarter proved more challenging for Ann Inc., prompting the company to reduce its outlook for the second quarter so it reflects lower-than-anticipated comparable sales and gross margin rate performance.  

President and CEO Kay Krill cited soft traffic across the industry and a highly promotional environment, but added that — despite delivering a positive comp for the quarter at Ann Taylor — a disappointing performance at Loft offset results.

Sales at Coupons.com surged 32% in the second quarter, but the digital coupon provider reported an increased loss as stock-based compensation expenses ate into profits.

Total revenue increased 32% to $51.7 compared to $39.1 million while the company reported a loss of $6.9 million, $6.7 million of which was related to stock-based compensation, compared to a prior year loss of $2.9 million. On an adjusted basis, the company said profits increased to $3.7 million from a $100,000 profit the prior year.

Despite reporting a second-quarter sales increase of 5% and a digital sales increase of 9% — with mobile representing 15% of its total sales — HSN missed Wall Street expectations for its net income thanks to a 5% drop from $43.3 million a year earlier to $40.9 million for the quarter.

Overall net sales grew 5% over the prior year to $855.2 million.

Costs related to the exit of its Rainbow business in the Twin Cities markets, as well as the upcoming closure of a distribution center, helped push Roundy’s to a net loss of $13.5 million in the second quarter of fiscal 2014.

Net income for the quarter was $11.6 million, while net sales from continuing operations for second quarter 2014 were $971.9 million, an increase of 12% from $868.3 million for second quarter 2013. Same-store sales dropped 2.2%.

Zulily remains a company to watch in the e-commerce world with strong second quarter sales growth coming from existing and new customers on mobile devices.

The Seattle-based company’s value priced offering of apparel, shoes, home décor and gifts resonated with shoppers during the second quarter ended June 29. Sales at the four year old company increased 97% to $285 million and adjusted earnings per share nearly doubled to nine cents from five cents the prior year.

The retail industry and many of those who work at Walmart are going to get a double shot of Greg Foran next week. The former international executive assumes his new role as CEO of the Walmart U.S. division as the retailer prepares to release second quarter results and host a major U.S. manufacturing summit.