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Stein Mart swings to Q3 loss, plans 10-plus new stores
Jacksonville, Fla. – Increased selling, general and administrative (SG&A) expenses helped drive Stein Mart Inc. to a net loss of $1.2 million in the third quarter of fiscal 2014, compared to net income of $28,000 in the same quarter a year earlier. Despite this push into the red, Stein Mart plans to open open at least 10 new stores and relocate two stores in 2015, as well as close two stores. -
Petco fetches deal with e-retailer
As the pet supply industry continues to experience record growth, Petco is looking to expand its online offerings to include prescription services and more premium products.
Petco has agreed to acquire Drs. Foster & Smith, a Wisconsin-based online pet store founded by veterinarians. Drs. Foster & Smith specializes in pet care and education and is known for veterinary expertise on prescription medications and premium products for dogs, cats, fish, birds, reptiles, horses and small animals.
