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  • Dollar Tree continues growth initiative following Q2 results

    Dollar Tree customers are responding to the value retailer’s offerings in discretionary and consumable merchandise categories. As a result, its consolidated net sales for the second quarter ended Aug. 3 were $1.85 billion, up 8.8% from $1.7 billion for the prior-year quarter.

    Comparable-store sales increased 3.7%, on top of a 4.5% increase for the second quarter 2012.

  • Abercrombie & Fitch Q2 results disappoint; outlook below estimates

    New Albany, Ohio -- Abercrombie & Fitch Co. earned $11.4 million for the second quarter, down from $17.1 million in the year-ago period, amid a 10% drop in same-store sales. The retailer, whose results missed analysts' estimates, also gave a third-quarter earnings forecast well below Wall Street expectations.

    Abercrombie & Fitch and many other teen retailers have struggled of late, with their sales impacted not only by financially constrained consumers but also by the inherent fickle nature of their customer base.

  • Comps keep sliding at Sears and Kmart

    HOFFMAN ESTATES, Ill. — Sears Holdings saw revenues decrease to $8.9 billion for the quarter ended August 3, from $9.5 billion for the year-ago quarter. Fewer Kmart and Sears full-line stores accounted for approximately $210 million of that decline. 

  • Sears Q2 loss widens amid weakening sales and loyalty program discounts

    Hoffman Estates, Ill. -- Sears Holdings’ second-quarter loss widened as the company was challenged with store closings, weak sales and deep discounts. Its performance was also impacted by the lingering effects from its spinoff of its Hometown and Outlet Stores banner.

    For the period ended Aug. 3, Sears lost $194 million, compared with a loss of $132 million in the year-ago period.

    Revenue dropped 6% to $8.87 billion, from $9.47 billion. Same-store sales fell 1.5%, with a 2.1% drop at Kmart and a 0.8% drop at Sears.

  • Stein Mart Q2 profit jumps 48% on same-store sales

    Jacksonville, Fla. -- Stein Mart Inc. reported that its second-quarter net income increased 48%, helped by higher same-store sales. The retailer also announced that the SEC is conducting an investigation related to Stein Mart's restatement of prior years' financial statements and its change in its auditors.

    For the quarter ended Aug. 3, Stein Mart earned $3.4 million up from $2.3 million in the same quarter of 2012.

    Revenue increased 4%, to $291 million from $280.4 million. Same-store sales rose 6.4%.

  • Stein Mart comp-store sales rise

    Stein Mart is preparing to launch its e-commerce business. The company expects the initiative to have a negative bottom line impact this year, in part, because of startup costs.

    For the second quarter ended Aug. 3, however, the company is enjoying total sales of $291 million, up 3.8% from the prior-year quarter. Comparable store sales increased 6.4%. 

  • Dollar Tree Q2 profit up 4.6%

    Chesapeake, Va. -- Dollar Tree Inc. reported that its fiscal second-quarter earnings rose 4.6% to $124.7 million on higher customer traffic and average ticket prices. The company raised the lower end of its sales and earnings forecasts for fiscal 2013
       

  • Ross Stores has better-than-expected Q2

    PLEASANTON, Calif. — Ross Stores credited strong sales and merchandise gross margin for its better-than-expected results for the second quarter ended Aug. 3.

    The company reported earnings per share of $.98, up from $.81 for the prior-year quarter — a 21% increase on top of a 27% gain in last year's second quarter. Net earnings for the 2013 second quarter grew to $213.1 million, up 17% from $182 million in the prior year.  

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