Distribution

A rapidly expanding retailer led by a former top Walmart executive is supposed to produce strong same store sales growth, leverage expenses and increase profits. So why isn’t Five Below?

Joel Anderson’s tenure as CEO of value priced retailer Five Below (where everything cost less than $5) is off to an uneven start. The company is achieving its profitability targets, but doing so with productivity improvement in its selling space that is surprisingly weak given the newness of its store base.

As the demand for differentiation grows among retailers and suppliers, Daymon Worldwide’s Omni Global Sourcing Solutions has opened a new showroom to allow customers access to in-demand seasonal and general merchandise imports.

Regional supermarket chain Haggen’s acquisition of 146 Albertsons and Safeway stores has been a disaster and the reasons why are detailed in a new lawsuit that heaps blame of the parent company of divested stores.

Evansville, Ind. -- Shoe Carnival Inc. kicked up its heels about its profit in the second quarter, but missed on sales.

Aided by higher merchandise margins and lower advertising expenses, Shoe Carnival reported net earnings of $4.8 million, up 84% from $2.6 million a year earlier. Its results easily beat estimates.

Net sales rose 2% $227.8 million, less than expected, from $222.1 million. Same-store sales rose 0.5%.

Shoe Carnival plans to open 21 new stores and close 15 stores by the end of fiscal 2015.

The acquisition of Family Dollar in the second quarter led Dollar Tree Inc. to report quarterly sales that were up more than 48% from a year ago.

For the second quarter ended Aug. 1, Dollar Tree reported sales of $3.01 billion, boosted by $811.6 million in sales from Family Dollar. Same store sales rose 2.7%. Dollar Tree reported income of $138.9 million. The retailer’s earnings were 67 cents.

Irving, Texas – Better timing of distribution expenses, the elimination of operating costs of 40 shuttered stores and an improved merchandising strategy helped drive sales growth at Michaels in the second quarter.

The retailer posted net income of $35.7 million in the second quarter, compared to a net loss of $48.6 million in the same period a year earlier.

Brisbane, Calif. – Bebe Stores Inc. continues to expand its global presence.

Bebe announced it has signed a five-year strategic cooperation agreement with Shanghai-based brand agency Longgoal LLC to open between 60 and 150 Bebe stores, shop-in-shops and third-party retailers in Greater China, Hong Kong, Macau and Taiwan. The first store is expected to open in the summer of 2016.

Columbus, Ohio -- Express Inc. soared in the second quarter as its profit tripled amid increased sales and profit margins and reduced promotional activity.

The retailer on Wednesday reported better-than-expected sales and profit for the second quarter. It also raised its full year outlook.

Express’ net income totaled $21 million, compared to $6.9 million, boosted by gross profit resulting from cost of sales growth that was significantly behind the rate of net sales growth.