FINANCE

Burlington Stores Inc. is upping its guidance for several key fiscal metrics in the second quarter of fiscal 2016.   The retailer now expects second quarter adjusted net income per share to total $0.28 to $.30, up from a previously announced range of $0.20-$0.23 per share and compared to $0.19 in the same period the previous year. Burlington Stores also currently anticipates adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) in the range of $88 to $90 million, compared to the prior year figure of $75.4 million.

U.S. retailers ended spring with a small but notable improvement in financial performance.   According to new data from the U.S. Census Bureau, adjusted advance estimates of U.S. retail and food services sales for June were $457 billion. This represents an increase of 0.6% from the previous month, and 2.7% higher than June 2015.  

As their merger enters the home stretch, Delhaize Group and Ahold have reached agreements with buyers to divest 86 U.S. stores.   The two international companies announced their intent to combine forces back in June 20115. The merger is set for completion at the end of July, pending final approval by the Federal Trade Commission.  

The $11 billion purchase of Belgium-based supermarket operator Delhaize Group by Netherlands-based grocery conglomerate Ahold is coming closer.   The two companies both announced they expect the deal, approved by the shareholders of both companies in March 2016, to go through before the end of July 2016, subject to regulatory approval by the U.S. Federal Trade Commission (FTC).   

After two years of benefitting from gasoline price tailwinds, still-stressed consumers will generate only a sluggish 3.3% year-over-year increase in this year’s back-to-school sales, according to Customer Growth Partners’ 14th Annual BTS Forecast.    Total BTS sales for the season will reach $540 billion — a new record, but the lackluster 3.3% growth represents a marked slowdown from the 4%-plus BTS growth seen in both 2014 and 2015, when sales were boosted by declining gasoline prices.  

Two mid-sized U.S. and Canadian chains are joining forces to create the third-largest pet specialty retailer and the largest small format, neighborhood specialty pet retailer in North America   Pet Valu and Pet Supermarket have merged to create a combined business named Pet Retail Brands. With more than 930 stores, it is expected to generate approximately $1 billion in system-wide retail sales across the U.S. and Canada. Pet Retail Brands will have stores from the East Coast to the West Coast and from Miami to Vancouver.  

A shift in the timing of a major holiday was cause for celebration at home furnishings retailer Havertys Furniture Companies Inc.   Sales in the second quarter of fiscal 2016 at Havertys rose 4% to $194.8 million, from $187.7 million the same period a year earlier. Same-store sales increased 2.8%. Written total and same-store sales for the second quarter both rose 6%.  

Bolstered by the rapid expansion of build-your-own pizza concepts, fast-casual chains had another strong year in 2015.   That’s according to Technomic Inc.’s annual Top 250 Fast-Casual Chain Restaurant report, which reported that cumulative sales in the fast-casual dining segment rose 11.6% in 205, compared to 13.5% in 2014.