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Supply Chain & Merchandising

  • Report: Suit accuses Costco of covering up slavery in seafood supply chain

    Issaquah, Wash. — A consumer lawsuit reportedly accuses Costco of knowingly purchasing shrimp from Thai providers that use slave labor and then misleading the public about the practice. According to the Puget Sound Business Journal, a California woman filed the suit in San Francisco federal court.

  • How Sears Holdings makes money with declining sales

    Thanks to some financial engineering, Sears Holdings overcame a double digit decline in same store sales to produce a second quarter profit or a less severe loss depending on the arithmetic used.

  • Profit almost doubles at Stein Mart in Q2, will open 21 stores

    Jacksonville, Fla. — Profit almost doubled at Stein Mart Inc. during the second quarter of fiscal 2015. Stein Mart reported net income of $4.1 million, up 58% from $1.7 million the prior year quarter.

    A slow pace of growth in cost of merchandise sold and essentially flat selling, general and administrative (SG&A) expenses helped drive strong profit growth. Net sales rose 4% to $311.58 million from $298.16 million.

  • Bon-Ton net loss grows in Q2

    York, Penn. – The Bon-Ton Stores Inc. saw its net loss grow to $39.6 million from $36.2 million in a difficult second quarter of fiscal 2015. An early mortgage termination led to the increased loss.
    Unseasonably cool weather and shrinking traffic drove net sales down 1% to $555.4 million from $563.5 million. Same-store sales fell 0.2%, although e-commerce sales grew in the double digits.  

  • REIT pushes Sears into black

    Hoffman Estate, Ill. — A one-time gain of $2.7 billion from the creation of its publicly-traded Seritage Growth Properties real estate investment trust (REIT) pushed Sears Holdings Corp, into the black for the first time since 2012. Sears reported net income of $208 million in the second quarter of fiscal 2015, compared to a net loss of $573 million the same period the prior fiscal year.

  • Stein Mart plans even more expansion in 2016

    On the heels of announcing accelerated plans for expansion in the Northeast and Midwest, Stein Mart has reported impressive sales results for the second quarter.

    The Florida-based off-price retailer reported net income of $4.1 million, up 58% from $1.7 million the prior year quarter. Sa,e store sales rose by 3%. Net sales rose 4% to $311.58 million from $298.16 million.

  • L Brands still steady on its growth trajectory

    L Brands Inc. continues to elude the troubles that have plagued other mall retailers, as the company reported a spike in same store sales.

    The parent company of Bath and Body Works and Victoria's Secret said earnings per share for the second quarter ended Aug. 1 increased 8% to 68 cents compared to 63 cents for the quarter ended Aug. 2, 2014. Net income was $202.5 million compared to $188.4 million last year. Same store sales increased 4%.

  • Buckle beats Street with falling Q2 profit

    Kearney, Neb. — The Buckle Inc. beat Wall Street expectations for profit in the second quarter of fiscal 2015. The retailer achieved this feat even as net income slipped 4% to $23.5 million from $24.1 million.

    Growth in cost of sales and selling expenses cut The Buckle’s profit. Net sales increased 0.1% to $236.1 million from $235.7 million. Same-store sales decreased 1.7%. In one bright note, online sales increased 17% to $20.1 million from $17.1 million.

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