Mass Merchant

The Cato Corp. reported sales of $61.2 million for the four weeks ended July 30, down 8% from the same period a year ago.     Same-store sales for the month were down 10% from the prior year.   On a quarterly basis, Cato sales for the second quarter fell 5% to $236.7 million, compared to $249.2 million a year ago. Second quarter same-store sales were down 6% from the prior year.  

Fred's Inc. saw July sales drop 7% to $154 million, compared to $165.6 million in the same period last year.    Comparable store sales for the month declined 4.6%, compared with an increase of 0.7% in the year-earlier period.   Fred's total sales for the second quarter of fiscal 2016 decreased 3.4% to $527.7 million, from $546.1 million for the same period last year. On a comparable store basis, second quarter sales decreased 2% versus an increase of 0.9% for the year-earlier period.

Tuesday Morning is showing off its updated prototype at two locations.   The chain’s expanded store at Preston Shopping Center, Dallas, and new store at Parker Central Shopping Center, in Plano, feature new fixtures, flooring, improved lighting and a redesigned store layout that makes it easier for customers to shop. The format also includes an expanded assortment of goods.  

Costco's comparable sales for the month of July declined 2%, with a 3% decrease in U.S. a 3% rise in Canada and other decreases internationally.  

Michaels purchased the rights to Hancock Fabrics’ brand and intellectual property for $1.3 million from U.S. Bankruptcy Court in Delaware.    The Texas-based crafts retailer takes possession of its ex-rival’s patents and trademarks, as well as its name. Personal and transactional data from 10 million Hancock customers was included in the deal, according to the Memphis Business Journal.  

The benefits of density and densification are a fundamental tenet of “new urbanism,” the guiding set of principles exerting a significant influence over real estate development, urban planning, and municipal land-use strategies.  

Top Walmart executive Michelle Gloeckler, who landed 38th on Fortune’s list of most powerful women last year, will leave Bentonville to take over as executive VP and chief merchandising officer at Academy Sports + Outdoors.  

Wal-Mart Stores is in talks to buy start-up Jet.com, an online retailer that has styled itself as a challenger to Amazon, the Wall Street Journal reported.   The acquisition would give a big boost to Wal-Mart’s digital efforts, as well as its efforts to compete with Amazon. At the company’s annual shareholders meetings in June, Wal-Mart CEO Doug said the discounter planned to become more aggressive in growing its online business.