Department Store

Dublin, Calif. – Ross Stores Inc. topped Wall Street expectations with net earnings of $282 million in the first quarter of fiscal 2015, up 15% from $244 million in the year-ago period. A one-time benefit related to timing of packaway costs (when a discount retailer buys end-of-season merchandise to sell at a markup the following year) boosted profits.
  The off-price retailer reported that its sales rose 10% to $2.93 billion from $2.68 billion in the year-ago period.  Same-store sales increased 5%.

The CEO of Gap Inc. says efforts to improve "product acceptance" at Gap and Banana Republic stores is a work in progress that continues to drain on the company's financial results, which included an 8% decline in its first-quarter profit.

New York – Ann Inc. beat Wall Street expectations with strong profit growth in the first quarter of fiscal 2015, but revenue growth fell short of the Street’s outlook. 
  The company, which  is being acquire by Ascena Retail Group for $2.2 billion, reported that its net income more than doubled to $13.6 million from $5.2 million the same quarter a year earlier, driven by lower restructuring charges and selling, general and administrative (SG&A) expenses that more than offset a softer gross margin.

Just days after it agreed to sell itself to Ascena Retail Group for $2.2 billion, Ann Inc. posted another mixed financial report.

For the first quarter ended May 2, same-store sales declined 1.5% overall at Ann Inc., as Ann Taylor brand sales fell 3% and Loft brand sales were down 0.6%. The company reported a profit of $13.6 million, or 29 cents a share, up from $5.2 million, or 11 cents a share, a year ago.

Macy’s is out to prove that bigger is better again this July 4 by sponsoring a fireworks display so massive that barges positioned at two locations on the East River in Manhattan are required to launch 40,000 shells.

The 39th annual pyrotechnic extravaganza is scheduled to last 25 minutes and be seen live by an estimated three million people from viewable locations along the shorelines of Manhattan, Queens and Brooklyn.

Omaha, Neb. – Gordman’s Stores Inc. swung to net income of $400,000 in the first quarter of fiscal 2015 from net loss of $700,000 in the same period the prior year. Improved control of store, corporate and insurance expenses, as well the paydown of a loan, helped push Gordman’s into the black.
 

Build-A-Bear Workshop is aiming to leverage the popularity of "Minions" with a new, interactive and customizable plush toy collection.

Bon-Ton Stores Inc. cited growth in the e-commerce channel as among the reasons for the company's slight increase in same store sales in the first quarter.