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Express has deeper-than-expected drop in holiday store traffic
When specialty retail apparel chain Express issued its fourth quarter guidance in early December 2013, it anticipated a promotional holiday season as well as a slowdown in traffic after the Thanksgiving week. What the company encountered, however, was a drop in traffic that was even deeper than expected because consumers waited until much closer to Christmas to shop.
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Lower demand for firearms and ammo at Big 5 Sporting Goods
Big 5 Sporting Goods announced that their fourth-quarter sales results were affected by a lower demand year-over-year for firearms and ammunition products as well as a highly promotional retail holiday environment.
The company reported net sales of $248 million, an increase of 1.8% from $243.6 million for the prior-year quarter. Same-store sales decreased 0.5% for the quarter versus the prior year period.