Data & Analytics

Big Lots topped Street estimates in its second quarter as shoppers continue to seek out bargains.    Net income rose 28.2 % to $29.1 million, or $0.67 per diluted share, in the quarter ended July 29, 2017, from adjusted income of $23.4 million, or $0.52 per diluted share, in the year-ago period. Analysts had expected the company to earn $0.62 per share  

Riverstone Capital Group has purchased the 43,199-sq.-ft. Shops at Lexington Circle in the Atlanta suburb of Peachtree City.   Anchored by a Sprouts Farmers Market and located on the West Highway 54 retail corridor, the property offered for sale by Mirabeland Investments and Concordia Properties was not on the market long, according to the deal’s broker.  

Mobile payments processor Square has set up shop in New York City.   The company has opened a store, called Square Showroom and located in downtown Manhattan, that provides hands-on support for merchants using its technology and space to display — and let sellers experience — its POS hardware. The store includes a Genius Bar-like support desk, where sellers can make appointments with Square employees to troubleshoot a specific issue or get training on a new product.  

As much as Sears deserves credit for the various actions it has been taking to shore up the company, there is no denying that this (Sears second quarter financials) is a miserable set of numbers. Indeed, the precipitous drop in comparable sales and the continued lack of progress on profit suggests the company isn't moving far or fast enough to ensure its long-term survival.  

Sears Holdings Corp.'s second-quarter earnings beat the Street as it benefitted from cost-saving initiatives. But it continued to struggle with weak traffic and declining sales, and added 28 more locations to its long list of store closings.    Sears reported that its second-quarter loss narrowed to $251 million, or $2.34 per share, in the quarter ended July 29, helped by cost savings resulting from the streamlining of operations and store closings.  

Abercrombie & Fitch on Thursday posted a much smaller than expected second quarter loss and better than expected sales amid strong demand for its Hollister brand.    The company reported a net loss of $15.5 million, or $.23 per share, for the quarter ended July 29, compared to $13.1 million, or $.19 per share last year. Excluding certain one-time items, Abercrombie posted a net loss of $11.0 million, or $.16 per share, compared to $16.8 million last year. Analysts on average had expected a loss of $.33.  

Dollar Tree turned in a strong quarterly performance that blew past profit and sales forecasts as consumers' love affair with dollar stores shows no signs of abating.    Net income rose to $233.8 million, or 98 cents per share, in the second quarter ended July 29, from $170.2 million, or 72 cents per share, in the year-ago period. Excluding items, Dollar Tree earned 99 cents per share, beating the analysts' estimate of 87 cents per share.  

Signet Jewelers Limited is acquiring a fast-growing and innovative e-commerce company.   Signet, whose banners include Kay Jewelers and Zales, said that it has agreed to acquire R2Net, owner of online jewelry retailer JamesAllen.com, for $328 million in an all cash transaction. R2Net also owns Segoma Imaging Technologies, a technology provider for the jewelry industry.   

J.Crew Group named an internal associate as CFO as the retailer continues to struggle to turn around its namesake brand.   The retailer announced that Vincent Zanna, previously senior VP of finance and treasurer, has been promoted to CFO and treasurer, effective immediately. He will continue to report to Michael Nicholson, who was previously CFO and COO, and now serves as president and COO.    

That didn't take very long.    Amazon said on Thursday — the day after the Federal Trade Commission gave the green light to the deal — that its $13.7 billion acquisition of Whole Foods Market will close on Monday Aug. 28. Starting that same day, Whole Foods will offer lower prices on select products. And with time, Amazon will place lockers in Whole Food stores, and make Amazon Prime the grocer's customer rewards program.