Business Analytics

The Fresh Market says its planned exit from California led to higher costs and lower profit in the first quarter, but analysts say the company may be in trouble.

Hibbett Sports says harsh winter weather, tax refund delays and the West Coast port dispute all contributed to the company posting an unanticipated decline in same store sales for the first quarter.

Jeff Rosenthal, president and CEO, said: “We experienced early headwinds in the quarter, with February posting a negative high-single-digit comp due to impacts from weather-related closures, port delays and a shift in the timing of tax refunds.”

Foot Locker has "hit the ground running in 2015," according to CEO Richard Johnson, adding that the company posted a better-than-expected 14% increase in profit in its first quarter as the sportswear retailer continues to benefit from sales growth.

Kearney, Neb. – The Buckle Inc. fell short of Wall Street expectations for profit in a generally disappointing first quarter of fiscal 2015.

Net income fell 10% to $33.6 million from $37.3 million, with higher cost of sales and selling, general and administrative (SG&A) expenses cutting into profitability.

Net sales slightly declined to $271.34 million from $271.67 million.

Same-store sales dropped 2.2%. In one bright spot, online sales increased 12.9%.
 

Astoria, N.Y. – Bareburger has signed up to use Buxton's Scout platform to identify the best market opportunities for growth in the U.S. and Canada. Buxton's custom analytic solutions will allow Bareburger to quantify growth potential and select the best sites for new locations.

Nashville, Tenn. – Kirkland’s Inc. topped Wall Street predictions for earnings and sales in the first quarter of fiscal 2015. Net income increased 23% to $2.53 million, from $2.05 million a year earlier.

Growth in cost of sales and operating expenses lagged the rate of revenue growth, boosting net income. Net sales rose 9% to $118.31 million, from $108.25 million. Same store sales, including e-commerce sales, grew 3%.

Chesapeake, Va. – Dollar Tree Inc. plans to sell about 330 Family Dollar stores to obtain Federal Trade Commission (FTC) approval of its pending $8.5 billion acquisition of Family Dollar Stores.  

The company has not identified the buyer, the sale amount or which stores will be closed. The 330 Family Dollar stores represent about $45.5 million in operating income, according to Dollar Tree. Dollar Tree expects the Family Dollar purchase to go through in July 2015.

West Elm helped Williams-Sonoma deliver another solid financial performance in the first quarter despite negative effects from the West Coast port dispute and sluggish consumer spending.

Total revenue for Williams-Sonoma Inc. in the first quarter ended May 3 grew 5.8% year over year, to $1.03 billion, versus $974 million in the first quarter of 2014. Same store sales from its flagship Williams-Sonoma brand grew 2.7%, Pottery Barn sales increased 2.4%, West Elm delivered a 15.3% increase in comps, Pottery Barn Kids grew 0.8%, and sales from PBteen increased 3% year over year.

Stein Mart is not only growing its footprint but the off-price retailer is also growing same store sales as well.

Same-store sales rose 4.8% in the first quarter ended May 2. Net income fell 3% to $13.6 million from $14.1 million a year earlier, with higher loan interest expense a major contributor. Net sales increased 7% to $353.5 million, from $328.9 million.

Mooresville, N.C. -- Lowe's Companies reported an increase in profit and sales in the first quarter but its performance in both metrics fell short of Wall Street estimates. The home furnishings retailer reported its results a day after rival Home Depot reported earnings and revenue that topped estimates.

Lowe’s net income increased 7.8% to $673 million in the quarter ended May 1, from $624 million a year earlier.

Net sales rose 5.4% to $14.13 billion. Total same-store sales were up 5.2%.