-
Commitment to low prices meets obligation to shareholders
Walmart took prices up in April, and the average gap with competitors narrowed to 16.8% from 17.8% the prior month, according to the most recent monthly survey of prices conducted in the Dallas and Chicago markets by Credit Suisse. The firm also found that Walmart has been among the most aggressive in terms of passing through inflation to customers. During the past three months, Walmart’s prices on the 60 food, health and beauty and household items the firm tracks each month increased 2% during the past three months and over the past year prices have risen by 3.6%.
-
Ascena Retail Group Q3 profit up 8%
Suffern, N.Y. — Ascena Retail Group Inc. said Wednesday that its fiscal third-quarter profit rose 8% on increased sales at its Dressbarn, Maurices and Justice clothing stores.
The retailer, formerly known as The Dress Barn Inc., reported net income of $51.8 million for the three months ended April 30, up from $48 million in the year-ago period.
Revenue rose 9% to $722.8 million from $665.5 million in the same quarter a year ago. Dressbarn revenue rose 5% in the quarter, and Maurices revenue jumped 17%. Justice sales rose 6%.