News

Buckle beats Street with falling Q2 profit
Kearney, Neb. — The Buckle Inc. beat Wall Street expectations for profit in the second quarter of fiscal 2015. The retailer achieved this feat even as net income slipped 4% to $23.5 million from $24.1 million.

Growth in cost of sales and selling expenses cut The Buckle’s profit. Net sales increased 0.1% to $236.1 million from $235.7 million. Same-store sales decreased 1.7%. In one bright note, online sales increased 17% to $20.1 million from $17.1 million.
NFL stars work out their issues for Foot Locker
Just in time for football season, Foot Locker has launched a new video campaign starring two of the best receivers for the New York Giants.

The New York-based specialty athletic retailer has unveiled "Thoughts," a new commercial starring New York Giants wide receivers Victor Cruz and Odell Beckham, Jr., highlighting the brand's back-to-school campaign.

Stage Stores to shutter 90 locations

Houston — Stage Stores Inc. plans to close 90 underperforming stores, representing 4% of total sales, after a disappointing second quarter that missed Wall Street expectations for profit and revenue. The retailer expects the closures to enhance its capital efficiency, deliver higher productivity and be accretive to earnings.

The 90 closings include 27 stores expected to be shut down during fiscal 2015. Stage also plans to open three new stores during the fiscal year.
How Sears Holdings makes money with declining sales

Thanks to some financial engineering, Sears Holdings overcame a double digit decline in same store sales to produce a second quarter profit or a less severe loss depending on the arithmetic used.
Survey: In-store experience matters

Stamford, Conn. — Even with the increasing influence of digital technology on retail habits, the in-store experience is important in all major purchase decisions, according to a new survey. The new Fourth Annual Major Consumer Purchase Study from Synchrony Financial shows that an overwhelming majority of shoppers buy in person.

At the same time, shoppers continue to carefully research major purchases of $500 or more, including financing options. While 80% of major purchase customers start with online research, most finish the deal inside a store.
REIT pushes Sears into black

Hoffman Estate, Ill. — A one-time gain of $2.7 billion from the creation of its publicly-traded Seritage Growth Properties real estate investment trust (REIT) pushed Sears Holdings Corp, into the black for the first time since 2012. Sears reported net income of $208 million in the second quarter of fiscal 2015, compared to a net loss of $573 million the same period the prior fiscal year.
Whole Foods philosophy tested by 'tough times'

The CEO of Whole Foods says that despite the company's recent bad publicity and sales growth struggles, the retailer plans to stay the course of "conscious capitalism."
Walgreens to expand in-store health clinics in Northwest

Deerfield, Ill. — Walgreens and Providence Health & Services are entering a strategic clinical collaboration that plans to bring up to 25 new retail clinics to Oregon and Washington. The clinics will be owned and operated by Providence and its affiliates, and become the first to open at Walgreens stores under a new collaborative services model.
Stage Stores aims to focus on technology with cuts

Stage Stores Inc. lowered its profit forecast for the year and said it plans to close at least 90 underperforming stores as the retailer invests more on digital.

The retailer said it expects the closures to enhance its capital efficiency, deliver higher productivity and allow it to invest more money in the online sales product mix and technology in general.
Stein Mart plans even more expansion in 2016

On the heels of announcing accelerated plans for expansion in the Northeast and Midwest, Stein Mart has reported impressive sales results for the second quarter.

The Florida-based off-price retailer reported net income of $4.1 million, up 58% from $1.7 million the prior year quarter. Sa,e store sales rose by 3%. Net sales rose 4% to $311.58 million from $298.16 million.