Business Analytics

Sak’s and Nordstrom have aggressively expanded their off price formats in recent years and now Neiman Marcus wants a bigger piece of the action.

Cincinnati -- The Kroger Company reported better-than-expected net income of $481 million during the first quarter of this year, up nearly 10% from $439 million in the first quarter of 2012. The company also raised its forecast for annual earnings.

Total sales increased 3.4% from $29.1 billion to $30 billion and a 3.3% increase in same-store sales beat analyst projections of a 2.8% increase.

Kroger trounced first quarter sales and profit forecasts, posting a 3.3% gain in identical store sales that drove a 92 cent a share profit.

Total sales increased 3.4% to $30 billion and the 3.3% gain in identical store sales was well ahead of analysts’ forecast of 2.8% growth. It was the company’s 38th consecutive quarter of positive identical store sales growth. Net income increased 9.6% to $481 million which translated to per share profit of 92 cents that was four cents better than the 88 cents analysts’ forecast.

BURLINGTON, N.J. — Burlington Coat Factory was the beneficiary of an unseasonably cool first quarter that resulted in soft sales at some other retailers.

The company’s net sales increased 8.4% to nearly $1.1 billion for the quarter from $982 million for the quarter ended April 28, 2012. Comparative store sales increased 3.4%.

Vancouver, B.C. -- Slow websites are a deterrent for customers using mobile devices, including smartphones and tablets, according to a report from mobile technology Mobify, which reveals the financial impact of slow loading mobile websites for the world's top 100 online retailers.

Burlington, N.J. -- Burlington Coat Factory credited the unusually cold winter experienced by many parts of the country, which dampened the first quarter results of many retailers, for helping to drive its strong financial performance during the first quarter.

The retailer reported net income of $11.1 million, a substantial improvement from $842,000 in the first quarter of the prior year, primarily driven by sales growth and improved gross margin rate which was in turn partially offset by increased selling and administrative expenses.

Glenview, Ill. -- Eco Gym will open an 8,300-sq.-ft. solar- and human-powered health club at Glenbrook Market Place in Glenview, Ill., a North Shore suburb of Chicago, according to Mid-America Asset Management Inc., the landlord’s representative.

The fitness center, Eco Gym’s second, will use a combination of human kinetic power and solar power to generate electricity for its equipment. As members use the equipment, they generate more power to the central power grid, which lowers monthly dues.

TROY, Mich. — PayAnywhere, a provider of mobile point of sale technology, has launched an upgraded version of its mPOS app for iOS and revamped its merchant portal PayAnywhere Inside.

The app is available for download from the Apple App Store and works with the PayAnywhere mobile credit card reader, which plugs into the audio jack of an iPhone, iPad or iPod touch device, so merchants of all sizes can accept credit and debit card payments directly from their phones or tablets.