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  • A.C. Moore reports 4Q loss on 4.3% comps decline

    BERLIN, N.J. -- A.C. Moore Arts & Crafts reported that sales for the fourth quarter of fiscal 2010 were $143.2 million, a decrease of 4.4% compared with sales of $149.7 million during the fourth quarter of last year. This decline was primarily attributable to a decrease in comparable-store sales of 4.3% during the quarter. Net loss was $4.8 million, or 20 cents per share, compared to a net loss of $0.5 million, or 2 cents per share, in the fourth quarter of fiscal 2009.

  • A.C. Moore loss widens in Q4

    Berlin, N.J. -- A.C. Moore Arts & Crafts reported Tuesday that net loss for the quarter ended Jan. 1 was $4.8 million, widened from a loss of $500,000 in the year-ago period.

    Sales for the fourth quarter decreased 4.4% $143.2 million, from $149.7 million. Same-store sales fell 4.3%.

  • Retail Ventures reports Q4 profit, comps growth

    COLUMBUS, Ohio -- Retail Ventures reported that income from continuing operations for the quarter ended Jan. 29 was $5.7 million on net sales of $468.5 million, compared with the loss from continuing operations of $5.3 million on net sales of $402.6 million for the same period last year. DSW same-store sales increased 14.9% during the fourth quarter versus an increase of 12.9% last year.

  • Charming Shoppes to close 240 stores

    Bensalem, Pa. -- Charming Shoppes said it would close 240 unprofitable stores in 2011, or nearly 12% of its total outlets, and that more than half of those would be Fashion Bug stores.
     
    The locations were not disclosed.

    The company said all 30 of its Catherines Plus Sizes stores in outlet locations would be shuttered over a two-year period.
     

  • Report: U.S. consumer spending up in February, economy on ‘firmer footing’

    Washington, D.C. -- A report released Monday by the Commerce Department showed that consumer spending in the United States rose more than forecast in February as incomes climbed.

    Bloomberg News estimated spending would advance 0.5%.

    Purchases increased 0.7%, the most since October, after advancing 0.3% the prior month. Incomes increased 0.3%, less than the 0.4% projected.

  • Best Buy Q4 profit declines, adjusted results beat Street

    Minneapolis -- Best Buy Co. reported Thursday that net income for the quarter ended Feb. 26 fell 16% to $651 million, compared with $779 million in the year-ago period. However, adjusted results beat Wall Street expectations.

    The retailer cited restructuring costs and weak TV and other electronics sales for the performance decline.

  • Fred's Q4 net income surges 48% on store upgrades

    Memphis, Tenn. -- Fred's reported Thursday that net income for the quarter ended Jan. 29 rose 48% to $8.6 million, compared with $5.8 million in the year-ago period.

    The discount retailer cited a better merchandise selection and store upgrades for the improved performance, which topped Wall Street expectations.

    Revenue rose 3% to $485.6 million from $473.1 million, missing analysts’ forecast of $487.3 million in revenue. Same-store sales rose 2.3%.

  • Wet Seal profit drops in Q4, will add 30 net new stores in 2011

    Foothill Ranch, Calif. -- The Wet Seal reported Thursday that net income for the fourth quarter ended Jan. 29 dropped to $5.3 million, compared with $74.2 million in the year-ago period. Last year’s quarter included a non-cash tax benefit of $64.7 million.

    Sales rose to $165.5 million from $151 million a year earlier. Same-store sales increased 2.3%. Same-store sales for Wet Seal increased 1.9% and for Arden B increased 4.8%.

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