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Destination Maternity net income drops in Q2 on adverse weather
Philadelphia -- Destination Maternity Corp. reported that net income for the quarter ended March 31, 2014 dipped to $3.2 million, compared to $5.9 million in the same period last year.
Revenue fell 6.5% to $126.1 million from $134.9 million, and same-store sales decreased 5.1%. CEO Ed Krell blamed the disappointing results on inclement weather.
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Tractor Supply Co. posts strong Q1; on track to open 100+ stores this year
Brentwood, Tenn. -- Tractor Supply Co. reported an 11% rise in profit for the quarter ended March 29, to $48.8 million from $44 million last year.
Revenue rose 9% to $1.18 billion, and same-store sales increased 2.2% versus a 0.5% increase in the prior year period.
For the full year, the company said it expects capital expenditures to range between $240 million and $250 million, including spending to support 102 to 106 new store openings and construction of the new Store Support Center to open in 2014.