-
Sears Hometown stays positive despite drop in Q1 profit
HOFFMAN ESTATELES, Ill. — An unseasonably cool spring and rising costs affected first-quarter earnings for the period ended May 4 at Sears Hometown and Outlet Stores, which reported a 27% drop in profit for the quarter. However, the company is focusing on improving signs in late spring.
Sears Hometown earned $15 million in the quarter that ended May 4, compared with $20.6 million in the year ago period.
Revenue dropped 3% to $601.1 million. Same-store sales fell 5%.
-
Ascena Retail Group Q3 profit down 37% amid charges
Suffern, N.Y. -- Ascena Retail Group Inc. reported its fiscal third-quarter net income dropped nearly 37% amid costs related to its acquisition of Charming Shoppes and a charge tied to debt extinguishment. The chain also lowered its full-year earnings forecast.
Net income slipped to $31.2 million for the quarter that ended April 27, from $49.4 million in the same quarter a year ago.
Revenue rose nearly 46% to $1.14 billion, boosted by the company’s acquisitions of the Lane Bryant and Catherines chains. Same-store sales fell 4%.