Supply Chain & Merchandising

The strategy at Conn’s to grow sales of its most profitable product lines have proved successful for the specialty retailer, which marked its 12th consecutive quarter of increasing same-store sales. But overall results were unsatisfactory, because provisions for credit losses were higher than expected, resulting in portfolio performance deterioration.

Tewksbury, Mass. – The Market Basket supermarket chain is wasting no time in moving forward following its purchase by former CEO Arthur T. Demoulas for $1.5 billion on Aug. 28. According to the Boston Globe, Market Basket plans to open at least four new stores in Massachusetts the near future.

Improved merchandising strategies and marketing execution at Big Lots has president and CEO David Campisi feeling good about prospects for a company that continues to distance itself from its closeout roots.

Online sales at regional department store operator Belk grew 43% during the second quarter, prompting the company to announce a major investment in its e-commerce and fulfillment capabilities.

Amazon and Barnes & Noble still pose an enormous threat, but things may be looking up for Books-A-Million where losses are declining and the company just hired an e-commerce veteran.

Books-A-Million said revenue for its second quarter ended August 2 declined 0.5% to $108.3 million, same store sales increased 0.1% and it lost $3 million, or 21 cents a share. The loss was significantly less worse than a prior year loss of $9.1 million, or 62 cents a share.

Destination XL president and CEO David Levin credited increased traffic and higher conversion rates for helping drive sales in the second quarter.

Although charges related to the decision by Destination XL to exit the Sears Canada Direct business resulted in the retailer’s net loss growing to $4 million in the quarter, from $1.6 million a year earlier, total sales fared better, increasing 6% to $103.7 million, compared with $98 million in the second quarter of fiscal 2013. Same-store sales rose 7%.

Williams-Sonoma’s second quarter results may have met Wall Street expectations, but shares dropped nearly 12% as a result of the company’s weak guidance for the third quarter of fiscal 2014 — which will include earnings from most of the back-to-school season.

For the quarter, the company posted net revenues of $1.04 billion, an almost 6% increase from $982 million a year ago. Total same-store sales increased 5.7%. Direct-to-customer revenues climbed 9.4%.

San Jacinto, Calif. -- Circle K Stores, Inc. has broken ground on its newest flagship prototype in Southern California, a 4,500-sq.-ft. convenience store offering fresh food, a gas station with eight fuel pumps, and a self-serve state-of-the-art carwash. The combo concept, located in the city of Jacinto, is expected to be open for business in late 2014.