Apparel

Little Rock, Ark. – Dillard’s Inc. had a disappointing first quarter of 2015, missing Wall Street expectations with both earnings and sales. Net income dropped 2% to $109.6 million, from $111.7 million a year earlier.

Net sales climbed to $1.57 billion, from $1.55 billion. Same-store sales and total merchandise sales outside the company’s construction business both fell 1%. Dillard’s plans to open three new stores in fiscal 2015, located in Utah, Louisiana and Ohio.

Duluth, Ga. - Atlanta-based Fuqua Development, along with The Worthing Companies has broken ground on Sugarloaf Market, a 31-acre, mixed-use project located in Duluth, Georgia. Anchored by the organic grocery store Sprouts Farmers Market, Sugarloaf Market will include 75,000-sq.-ft. of retail and 330 luxury apartments.  

Fuqua Development is the master developer for the project and is developing the commercial component of the project, while The Worthing Companies is developing the residential component.

New York -- Mother’s Day is turning into a goldmine for online retailers. Overall U.S. retail online sales for the week leading up to Mother's Day rose more than 15% compared to the same period last year, according to IBM Digital Analytics Benchmark. Mobile traffic accounted for 46.3% all online traffic, up more than 21% compared to last year. Mobile sales saw strong growth, up more than 43%, reaching over 24.4% of all online sales.
 

Toronto – Canadian Tire Corp. pumped up profit in the first quarter of fiscal 2015, expanding net income 17% to $88.3 million from $75.6 million a year earlier. Improved margins helped inflate net income totals.

Falling petroleum costs helped deflate revenue 2% to $2.51 billion from $2.57 billion, although consolidated same-store sales rose 5.5%. Same-store sales grew at all core retailer banners, including lifts of 4.7% at Canadian Tire, 8.6% at FGL Sports and 5.5% at Mark’s.

Secaucus, N.J. – A reduction in cost of sales helped The Children’s Place Inc. boost net income 15% to $15.6 million in the first quarter of fiscal 2015 from $13.6 million in the same quarter a year earlier. The Children’s Place achieved this increase in profitability even as net sales dropped 1% to $404.9 million, from $410.15 million.

Negative impact of foreign currency exchange fluctuations drove the reduction in net sales. Same-store sales rose 0.7%.

Las Vegas -- Simon Property Group, a global leader in retail real estate, announced that it has opened a 25-store expansion of Las Vegas North Premium Outlets.

The center is now one of the largest in the country with 175 stores. The expansion features designer and name brands, including Neiman Marcus Last Call Studio, Saks Fifth Avenue Off 5th, AG Adriano Goldschmied, AllSaints, Bally, Canali, Catimini, CH Carolina Herrera, Citizen, Helmut Lang, John Varvatos, Rag & Bone, Under Armour, and Vera Bradley.

Strong growth in its e-commerce divisions couldn't lift profits at Nordstrom Inc., which reported a drop in earnings for the first quarter. 

For the period ended May 2, Nordstrom reported a profit of $128 million, or 66 cents a share, down from $140 million, or 72 cents a share, a year earlier. The retailer also reported that Nordstrom.com and Nordstromrack.com had a combined 70% increase in sales in the first quarter.

Kohl’s couldn't combat weak consumer spending in the first quarter despite launching a loyalty program and new advertising initiatives.

Kevin Mansell, Kohl's chairman, chief executive officer and president, said: "Sales were modestly below our original expectations for the quarter, but accelerated in the March/April combined period after a weak February. We are very pleased with our earnings results, with a more balanced promotional calendar driving merchandise margin combined with strong expense control."