Data & Analytics

Minneapolis – Best Buy Co. Inc. swung to a net profit in the first quarter of fiscal 2015 from a net loss in the same period a year earlier, but missed estimates with a drop in sales. The retailer posted net income of $461 million, a big turnaround from a net loss of $81 million.

Stein Mart has named Sara Meza as director of e-commerce. Although Meza came on board in April — after a 12-year tenure at Belk where she led the original launch of the retailer’s website business — the company made the announcement in conjunction with solid first-quarter results.

Net income for the quarter decreased to $14.1 million, or $0.31 per diluted share, from a net income of $14.7 million, or $0.33 per diluted share in 2013.

York, Pa. – Adverse weather that lasted longer into the first quarter of fiscal 2014 than anticipated bit into income and sales at The Bon-Ton Stores Inc. Net loss grew to $31.5 million from $26.6 million a year earlier, and net sales dropped 6% to $607.46 million from $647.9 million.

Same-store sales declined 5.8%. In addition to weather, the extinguishment of mortgage and senior note redemption debt also contributed to net loss growth.

Chesapeake, Va. – Dollar Tree Inc. slightly exceeded Wall Street estimates with net income of $138.3 million in the first quarter of fiscal 2014, up 4% from $133.5 million in the first quarter of fiscal 2013. Net sales rose 7% to $2 billion from $1.87 billion, and same-store sales increased 2%.

Land O'Lakes' initiative to leverage technology to manage risk associated with weather and climate change will be part of a conversation this week focused on food security and climate change that brings together experts from the public and private sectors.

Boston - Cone Communications has launched its new social impact tool to help companies assess, communicate and prove their progress against addressing critical social issues. The Cone Social Return Assessment is a proprietary, diagnostic tool that uncovers gaps and opportunities within three elements critical to a company's successful program: awareness, engagement and impact, and provides a plan to optimize its business and social return.   

Walmart is reportedly planning to substantially expand its e-commerce operation based in Sunnyvale, California. According to the Oakland Tribune, Walmart intends to add hundreds of staffers to its global e-commerce unit there, bringing the total number of e-commerce employees to about 1,000.
 
In addition, Walmart will lease a 107,000-sq.-ft. space in Sunnyvale to help house its e-commerce operations. Currently, the retailer employs about 550 e-commerce employees in Sunnyvale at an existing facility it will maintain.

Lynnwood, Wash. -- Teen active-sports retailer Zumiez reported net income in the first quarter of fiscal 2014 of $2.5 million, flat with the year-ago period. The retailer intends to open approximately 55 stores in fiscal 2014, including up to seven locations in Canada and five in Europe.

Total net sales for the first quarter ended May 3, 2014, increased 9.7% to $162.9 million from $148.5 million last year. Same-store sales increased 1.8%.