FINANCE

Michaels Q1 earnings, sales miss as competition heats up
Increased online and offline competition is giving arts and crafts leader Michaels Cos. a run for its money. The company's profit fell 20% to $67 million, or 38 cents a share, in the first quarter ended April 29, down from $85 million, or 34 cents a share, a year ego. Its results missed analysts' expectations. Total sales were flat at $1.16 billion, also less than expected. Same-store sales fell 1.2%
Convenience store retailer’s Q4 misses Street
Despite 16 consecutive years of positive same-store sales growth among key categories, Casey’s General Stores’ top and bottom line revenues missed the mark in the fourth quarter.

Study: Amazon sees double-digit growth in consumables

Despite a decline in the overall health & personal care (HPC), baby and grocery categories industry-wide, Amazon is grabbing double-digit wallet share.
Consortium makes ‘stalking horse’ bid for upscale fashion retailer

BCBG Max Azria Group LLC is getting a shot at keeping its brand alive.
Walmart shareholders approve directors, compensation

Walmart shared the results of its 47th annual shareholders meeting held June 2.
Children’s apparel retailer misses critical interest payment

Gymboree Corp. could be filing Chapter 11 sooner than expected. Struggling to manage its debt and churn a profit, Gymboree missed an interest payment due June 1, for its outstanding 9.125% senior notes due 2018. The missed payment was reported in a filing on Thursday, June 1, by the Securities and Exchange Commission, according to CNBC.
Boot Barn sales rise in fiscal Q4, still misses Street

Even with a jump in sales, unanticipated operating expenses and e-commerce snafus took a toll on Boot Barn’s fourth quarter for fiscal 2017.
Five Below hits it out of the park in Q1

Teens’ demand for slime to fidget spinners helped boost Five Below’s first quarter sales, comps and earnings well above expectations. For the first quarter ended April 29, the teen value retailer reported a net income of $8.4 million compared to $6.8 million in the first quarter of fiscal 2016. Meanwhile, the chain’s sales increased almost 21% to $232.9 million, from $192.7 million in the first quarter of fiscal 2016.
Hot fitness equipment start-up to expand retail footprint

Peloton, a four-year-old startup that sells exercise bikes tied to a live-streamed workout experience, is revving up for expansion armed with fresh capital. The company announced it has recently closed a $325 million series E financing round, which brings its total valuation to $1.25 billion. The round was led by Wellington Management, Fidelity Investments, Kleiner Perkins, and True Ventures. Other significant investors in this round included Comcast NBCUniversal, GGV Capital, Balyasny, and QuestMark.
Express swings to loss in Q1, but cost savings plan stays on track

Despite a rough first fiscal quarter, Express remains committed to its ongoing plan to manage costs, optimize its store fleet and improve profitability. For the quarter ended April 29, the specialty apparel retailer posted a net loss of $4.5 million, or $0.06 per share. This included a net negative $0.03 per share impact related to certain discrete tax items and the exit of Canada.

Michaels Q1 earnings, sales miss as competition heats up

Convenience store retailer’s Q4 misses Street

Study: Amazon sees double-digit growth in consumables

Consortium makes ‘stalking horse’ bid for upscale fashion retailer

Walmart shareholders approve directors, compensation

Children’s apparel retailer misses critical interest payment

Boot Barn sales rise in fiscal Q4, still misses Street

Five Below hits it out of the park in Q1

Hot fitness equipment start-up to expand retail footprint

Express swings to loss in Q1, but cost savings plan stays on track