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  • AME

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  • Stein Mart Q2 profit jumps 48% on same-store sales

    Jacksonville, Fla. -- Stein Mart Inc. reported that its second-quarter net income increased 48%, helped by higher same-store sales. The retailer also announced that the SEC is conducting an investigation related to Stein Mart's restatement of prior years' financial statements and its change in its auditors.

    For the quarter ended Aug. 3, Stein Mart earned $3.4 million up from $2.3 million in the same quarter of 2012.

    Revenue increased 4%, to $291 million from $280.4 million. Same-store sales rose 6.4%.

  • Sears Q2 loss widens amid weakening sales and loyalty program discounts

    Hoffman Estates, Ill. -- Sears Holdings’ second-quarter loss widened as the company was challenged with store closings, weak sales and deep discounts. Its performance was also impacted by the lingering effects from its spinoff of its Hometown and Outlet Stores banner.

    For the period ended Aug. 3, Sears lost $194 million, compared with a loss of $132 million in the year-ago period.

    Revenue dropped 6% to $8.87 billion, from $9.47 billion. Same-store sales fell 1.5%, with a 2.1% drop at Kmart and a 0.8% drop at Sears.

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  • Comp-store sales slip at the Bon-Ton Stores

    YORK, Pa. — Bon-Ton Stores pointed to inclement weather in its markets and higher gas prices in the Northeast and Midwest for overall sales weaknesses which translated into a same-store sales decrease of 6.4% for the second quarter ended Aug. 3.

    The unfavorable shift in consumer spending patterns affected the company’s total sales for the quarter, which decreased 6.3% to $557 million, compared with $595 million for the prior-year period.

  • Buckle Q2 income up 8%

    Kearney, Neb. -- The Buckle’s net income rose 8% in the second quarter on improved sales. The apparel retailer earned $25.1 million for the three months ended Aug. 3, compared to $23.2 million a year ago.

    Revenue grew 8%, to $232.5 million from $215.5 million. Online sales rose 5.3%. Same-store increased 3.2%, short of analysts expectations.
     

     

  • Dollar Tree continues growth initiative following Q2 results

    Dollar Tree customers are responding to the value retailer’s offerings in discretionary and consumable merchandise categories. As a result, its consolidated net sales for the second quarter ended Aug. 3 were $1.85 billion, up 8.8% from $1.7 billion for the prior-year quarter.

    Comparable-store sales increased 3.7%, on top of a 4.5% increase for the second quarter 2012.

  • Lennox Landmark®

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