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FINANCE

Coverage and analysis on finance news, including quarterly results, general retail sales and bankruptcy filings, for the retail channel brought to you by Chain Store Age.

Dollar General store exterior

Dollar General Corp. reported its biggest same-store rise in more than 10 years amid surging demand driven by the COVID-19 pandemic. 

Dollar General store exterior

Some retailers suffered terribly during the pandemic; others managed to hold their own.

Big Lots Inc. reported first-quarter profit that was well above analysts’ estimates as the COVD-19 pandemic drove a big increase in same-store sales. 

Tuesday Morning

Tuesday Morning Corp. filed for Chapter 11 bankruptcy protection, citing the prolonged closure of its stores amid the COVID-19 pandemic as an "insurmountable financial hurdle." 

GE is selling its most historic business. 

Most retailers are withdrawing their second-quarter outlooks due to uncertainty caused by COVID-19. Not Tractor Supply Co., which said it expects record-breaking sales and earnings. 

Abercrombie & Fitch Co. reported earnings and sales that missed expectations as its stores remained dark due to the COVID-19 crisis. But business is picking up as its stores to reopen.

AutoZone, whose stores remained open during the pandemic, reported third-quarter profit and sales that easily beat expectations helped by stimulus checks that fueled sales late in the quarter. 

Macy’s

Macy’s has started refinancing procedures expected to see it through fiscal 2021.

Following two months of rapid decline, the free-fall in consumer confidence stopped in May.

Legislation has been proposed that would establish a federal program to help businesses obtain insurance coverage for pandemics.

Everything is changing rapidly. Retailers need financing that allows them to evolve with the circumstances.

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