Seasonal

New York -- March was a so-so month for retailers, whose performance was impacted by unspring-like, cold temperatures in many parts of the country and a late Easter. (Easter falls on April 20 this year as opposed to March 31 last year.)

The eight retailers tracked by Thomson Reuters posted a 2.2% increase in March same-store sales, better than the expected 1.4% increase.

Stein Mart said that its March sales were unfavorably impacted by the shift of pre-Easter selling from March to April this year, as well as cooler-than-normal temperatures in many parts of the country early in the month.

Stein Mart’s total sales for the five-week period ended April 5 were $136.3 million, compared to total sales of $135.4 million for the prior-year period. Comparable store sales increased 0.9%.

Philadelphia – Destination Maternity Corp. reported declining net and same-store sales for the second quarter of fiscal 2014, compared to the same period a year earlier. Net sales decreased 6.5% to $126.1 million from $134.9 million, while same-store sales dropped 5.1%.

Destination Maternity said the decline in net sales resulted primarily from the decrease in comparable sales and decreased sales related to the company's continued efforts to close underperforming stores.

Fort Worth, Texas – Snowstorms that affected as many as two-thirds of the selling days in the fourth quarter of fiscal 2014 in some key markets dampened financial performance at Pier 1 Imports Inc.

Compared to the same period the prior year, net income fell 31% to $42.6 million from $61.7 million. Total sales fell 6% to $515.8 million from $551.6 million and same-store sales dropped 4.6%.

Family Dollar plans to close 370 underperforming stores, cut jobs and lower prices on 1,000 basic items following a disappointing second quarter, which was adversely affected by the extra week in last year's quarter, severe weather, holiday promotions and a challenging consumer environment.

The company is also slowing its new store growth beginning in fiscal 2015 to bolster its return on investment. It now anticipates opening 350 to 400 new stores as opposed to approximately 525 stores in 2014.
 

Union, N.J. – Bed, Bath & Beyond met Wall Street expectations with falling net earnings during the fourth quarter of fiscal 2013. Compared to the same period a year earlier, net earnings dropped 11% to $333.3 million, from $373.87 million.

Net sales fell 6% to $3.2 billion, from $3.4 billion. In one bright spot, same-store sales rose 1.7%. Bed, Bath & Beyond attributed some of its net earnings decline to disruptive weather in the fourth quarter.

Sales and profits were as bad as Bed Bath & Beyond initially feared due to extensive weather related store closures during the company's fourth quarter ended March 1.

The company said sales during its 13 week fourth quarter declined 5.8% to $3.2 billion while same store sales advanced 1.7%. Profits during the 13 week period declined to $333 million, or $1.60 a share, compared to the 14 week period the prior year when profits totaled $374 million, or $1.68 per share.

Despite difficult weather conditions during the peak holiday season, Dollarama enjoyed an increase in sales, net earnings and earnings per share for the fourth quarter ended Feb. 2.

"Fourth quarter and full-year financial results came out strong despite the adverse impact of severe weather conditions on store traffic, particularly in December, during our peak sales period. While not as severe, weather conditions did remain challenging for the remainder of the winter season," stated Larry Rossy, chairman and CEO of Dollarama.