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Container Store Q4 profit drops; will open nine new stores
Coppell, Texas – Higher selling, general and administrative (SG&A expenses) helped drive down net income at The Container Store Inc. during the fourth quarter of fiscal 2014, and the retailer expects open nine new stores and relocate one store during fiscal 2015. The Container Store reported net income of $13 million, down 29% from $18.3 million in the same quarter the prior year.
Net sales totaled $224.26 million, up 3% from $216.82 million. Same-store sales dropped 0.8%.
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Family Dollar board member passes away
Matthews, N.C. - Family Dollar Stores Inc. has announced the passing of Mark R. Bernstein, a member of the company's board of directors, on April 27. Bernstein was among Family Dollar’s longest tenured board members, having joined the board in 1980.
Bernstein most recently served as lead director from 2004 to January 2013.