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Lands’ End Q2 net income up 5%
Dodgeville, Wis. — Net income at Lands’ End Inc. grew 5% to $11.8 million in the second quarter of fiscal 2014 from $11.3 million in the same period a year earlier. Net sales also increased 5%, to $347.2 million from $329.6 million.
Same-store sales improved 2.8%. Lands’ End attributed its positive performance to improved merchandise assortment, modern creative presentation, better inventory management and continued expense controls.
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99 Cents Only net income inches up
City of Commerce, Calif. — Net income at 99 Cents Only Stores Inc. slightly increased to $2 million in the second quarter of fiscal 2014 from $1.9 million a year earlier. Net sales rose 6% to $458.2 million from $433.1 million, while same-store sales increased 0.1%.
99 Cents Only cited the short-term impact of several long-term growth initiatives, as well as California’s ongoing drought, as limiting its financial growth during the quarter.