News

Expenses hit Kirkland’s Q1 profit as sales miss
Increases in cost of sales, operating expenses and depreciation resulted in net income dropping at Kirkland’s Inc. during a generally disappointing first quarter of fiscal 2016.

The specialty home décor chain’s net income totaled $916 million, down 64% from $2.53 billion in the first quarter of the previous fiscal year. Net sales rose 10% to $129.91 million from $118.31 million, below expectations. Same-store sales edged up 0.5%.
Meet the next generation of store associate
Retailers will be excited by the prospect of employees that are never late and don’t need to take breaks or even be paid, but will customers accept them?

Barnes & Noble Education expands college turf

Amazon.com has been encroaching on Barnes & Noble Education’s collegiate bookstore business with a rapidly expanding network of campus pickup locations, but Barnes & Noble is striking back.

Fourteen colleges and universities have selected Barnes & Noble College as their partner of choice to operate their campus bookstores. The 14 new contracts represent 23 new campus and virtual bookstores. The schools represent a projected additional 140,000 students and their faculty.
Zimmer wants another shot at Men’s Wearhouse

Men’s Wearhouse may not have seen the last of original co-founder George Zimmer.

In an interview with Inc., Zimmer discusses conversations he has had about a possible acquisition attempt with private equity firms.

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DSW profit, sales miss in tough Q1

Despite improved net sales, DSW Inc. saw net earnings decline substantially during the first quarter of fiscal 2017.

The footwear retailer reported net income of $30.01 million, down 37% from $47.37 million in the prior year quarter. Growing cost of sales and operating expenses, as well as a pretax expense from the February purchase of online footwear retailer Ebuys Inc., cut into profit even as net sales rose 4% to $681.27 million, from $655.47 million. Ebuys contributed $15.1 million in net sales.
Best Buy Q1 profit surges; finance chief to exit

Best Buy Co. Inc. surpassed Wall Street expectations with rising profits and declining revenues for the first quarter of fiscal 2017, and CFO/CAO Sharon McCollam announced she will retire June 14.
Commentary: Meet the next generation of store associate

Retailers will be excited by the prospect of employees that are never late and don’t need to take breaks or even be paid, but will customers accept them?
AutoZone motors ahead, comps soften

The nation’s leading auto parts retailer produced modest sales and profit growth during its third quarter but managed to achieve double digit earnings per share growth thanks to stock buyback activity.

AutoZone sales increased 4% to $2.6 billion during the quarter ended May 7, thanks to the addition of new stores and a 2% same-store sales increase. Net income increased 6% to $327.5 million, while earning per share increased 12.6% to $10.77 as the company spent $533 million to repurchase 687,000 shares.
Stores Make a Comeback: Becoming a Hub for an Array of Customer Services

The store is making a comeback. Even online pure plays are laying down bricks and mortar, setting up “shop-in-shop” stores and large flagships to keep pace in the multichannel world.
Sam Edelman makes more retail moves

Photo: Sam Edelman’s newest store at NorthPark Center opened May 20