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First Data: Harsh winter cuts into February sales
Atlanta -- Severe winter weather hindered shopping activity in February, according to First Data Corp.'s SpendTrend report, which tracks same-store POS data by credit and debit cards, closed loop prepaid cards, EBT, and checks from the nearly four million retail locations serviced by First Data.
Consumer spending was also restrained by the termination of emergency unemployment insurance, a reduction in food stamp benefits and low-income growth, First Data said.
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Express net income, sales fall in Q4; plans new outlets
Columbus, Ohio – Net income at Express Inc. fell 25% during the fourth quarter of fiscal 2013, dropping from $63.9 million to $47.9 million. Net sales declined 2% from $731.7 million, to $715.9 million.
Same-store sales rose 1%. The company cited heavy promotions as impacting its quarterly results, which did not meet Wall Street expectations. Express intends to start opening outlet stores beginning in May 2014.