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Budgets/Spending/Market Size

  • Cost Plus loss widens in Q2

    Oakland, Calif. -- Cost Plus reported Friday that its loss widened in the second quarter to $8 million, from $7 million in the year-ago period.

    Sales for the quarter rose 3.2% to $197.9 million, and same-store sales increased 2.8%.

    The retailer of home living and entertainment products closed five stores in the first six months of fiscal 2011, and said it expects to relocate one store in the third quarter of fiscal 2011.
     

  • Massmart to increase store count by 8.6%

    Johannesburg -- Massmart Holdings Ltd., the South African retailer controlled by Wal-Mart Stores, announced Thursday it will up its store counts in fiscal 2012 by 8.6% to 340 stores. The company will open 27 new stores during the period, mostly in South Africa and two in Nigeria.CEO Grant Pattison said the accelerated pace is to keep the company in front of its competitors.

    Also on Thursday, Massmart reported an 11.6% rise in total sales for the year ended June 26 to $7.29 billion, and upped its forecast for the remainder of 2011.

  • Express Q2 profit falls 43%, but beats Street

    Columbus, Ohio -- Express reported Wednesday that profit for the second quarter fell 43% to $12.6 million, compared with $22.1 million in the year-ago period. Results still topped Wall Street expectations, and the company has upped it s forecast for the third quarter and full year.

    Revenue rose nearly 10% to $446 million from $407.3 million, beating analysts' average forecast for $439.6 million in revenue. Same-store sales rose 6%.

  • Survey: Food trips to nontraditional stores on rise

    New York City -- A survey released Thursday by consumer research firm AlixPartners found that 51% of consumers visit traditional supermarkets for their grocery shopping, while 30% shop mass merchants such as Walmart for groceries. Drug stores pull 5% of grocery shoppers, as do dollar stores.

  • Big Lots raises FY guidance on 2Q performance

    COLUMBUS, Ohio — Despite a comps dip during its second quarter, Big Lots performance was enough for the company to raise its fiscal 2011 guidance.

    Big Lots reported net income of $35.7 million, or 50 cents per diluted share, for the second quarter of fiscal 2011 ended July 30.  This compares with net income of $38.9 million, or 48 cents per diluted share, for the second quarter of fiscal 2010. 

  • Shoe Carnival profit drops in Q2, on track to open 13 net new stores

    Evansville, Ind. -- Shoe Carnival reported Thursday that net income for the quarter ended July 30 dropped to $2.7 million from $4.1 million in the year-ago period. Sales edged up 0.8% to $166.7 million, and same-store sales dipped 1.1%.

    The shoe retailer said it expects to open 17 new stores and close four stores in fiscal 2011.
     

  • Food trips to nontraditional stores — mass, dollar, drug — on rise

    NEW YORK — A recent consumer survey released by AlixPartners found that a little more than half of all consumers (51%) identify a traditional grocery retailer as their point of destination when making a grocery trip. Such mass merchants as Walmart are capturing 30% of those trips, and the continued emphasis on fresh in the drug channel has drawn 5% of those trips into the mainstream pharmacy.

    Dollar stores, another channel that has in the past few years made a significant push into food items, also draws 5% of all grocery trips.

  • Books-A-Million swings to loss

    Birmingham, Ala. -- Books-A-Million on Tuesday reported a second-quarter loss of $2.9 million, compared with a net income of $1.9 million in the year-ago period. The chain faulted lower sales as consumers move away from traditional books and pressure from the liquidation sales Borders Group is conducting.

    Revenue fell 11.4% to $106.4 million from $120 million last year. Same-store sales fell 12.9%.

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