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Shopko plans five new Shopko Hometown stores
Green Bay, Wis. – Shopko intends to open five stores under its Shopko Hometown banner in Afton, Wyo., St. Peter, Minn., and Winneconne, Ellsworth and Tomahawk, Wis., in late fall of this year.
The Shopko Hometown format is designed to serve smaller rural communities with the same product assortments available in larger areas and Shopko currently operates more than 180 stores in this format.
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Five B gets a new DC and comp boost
A 4.2% first quarter same store sales increase at teen retailer Five Below and better than expected results prompted the operator of 258 stores to increase its full year guidance.
Sales for the quarter ended May 4 increase 33.1% to $95.6 million and operating income swung to $3.2 million from a prior year loss of $2 million. Net income was $1.6 million compared to a net loss of $1.2 million the prior year.