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  • Cato Q1 profit edges up 4%, raises outlook

    Charlotte, N.C. -- Women’s apparel retailer Cato Corp. said Thursday that first-quarter profit rose 4% to $31.7 million, from $30.5 million last year, prompting the company to raise its full-year profit forecast.

    Sales inched up 1% to $275.3 million, but same-store sales dipped 2% among its Cato, Cato Fashions, Cato Plus, It's Fashion, It's Fashion Metro and Versona Accessories banners.

  • Gap Q1 profit beats Street

    San Francisco -- Gap Inc. said Thursday that profit for the quarter ended April 28 was flat compared with the year-ago period, but its results beat Wall Street forecasts and prompted the retailer to raise its outlook for the year.

    Gap reported a profit of $233 million for the first quarter. Revenue rose 6% to $3.49 billion, beating analysts’ estimated $3.46 billion in revenue, and same-store sales rose 4%.

  • Jacksons Food Stores selects Acumera to build and manage secure network

    Austin, Texas -- Acumera announced today that Meridian, Idaho-based Jacksons Food Stores, Inc. has selected Acumera to build, monitor and manage a secure network, interconnecting the convenience store chain’s more than 200 retail locations with more than 1,900 store systems.

    Using the Acumera Merchant Gateway, AcuVigil Dashboard and Machine-to-Cloud Integration Engine, Jacksons will experience enhanced information security, connectivity and visibility across the company’s enterprise.

  • J.C. Penney to roll out several new brands; open 20,000-sq.-ft. in-store home shop

    New York -- J.C. Penney executives laid out further details of their strategy going forward during the chain’s quarterly conference call with investors. The call followed the release of J.C. Penney’s first quarter results, when it reported a worse-then-expected loss of $163 million, and a 19% drop in same-store sales.

    J.C. Penney said it would launch a new private label apparel brand, jcp, for both men and women. The brand is set to debut in August.

  • Publix promotes DiGrazia to VP finance

    LAKELAND, Fla. — Gino DiGrazia, who currently serves as VP and controller of Publix's business analysis and reporting, has been promoted to VP finance. In addition to his current responsibilities for business analysis and reporting, DiGrazia assumes many of the responsibilities previously held by Kelly Underhill, director of tax and treasury, who retired from Publix on March 30.

  • Francis' marketing magic slow to take hold at JCPenney

    When JCPenney hired former Target chief marketer, Michael Francis, to serve as president, the company no doubt thought he would bring with him a bit of Target's magic. Now, about six months since he assumed his role at JCPenney, the company has undergone a number of personnel changes and the implementation of its new "fair and square" price strategy, and investors are waiting for it to pay off.

  • Target Q1 beats estimates, raises forecast

    Minneapolis -- Target Corp. reported a better-than-expected 1.2% increase in first-quarter profit as warm weather and an early Easter helped drive sales. The chain also raised its earnings forecast for the full year.

    Target’s net earnings for the quarter ended April 28 were $697 million, compared with $689 million in the year-ago period.

    “We’re very pleased with our first-quarter earnings, which benefited from better-than-expected sales,” Gregg Steinhafel, Target’s CEO, said in a statement.

  • RECON 2012: An interview with Jones Lang LaSalle

    As part of Chain Store Age’s lead-up coverage to RECon 2012, to be held May 20-23 in Las Vegas, we talked with Jones Lang LaSalle’s Lew Kornberg about what his expectations are for the big real estate show. Visit JLL’s booth at RECon, Central Hall, C1001.

    What are your expectations for RECon 2012 in terms of activity, attitude, priorities?

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