News

Hhgregg President and CEO Dennis May played the “pleased with significant progress on transformation efforts” card after the company reported abysmal sales for its fourth quarter ended March 31.

The retailer said same store sales decreased 10%. Net sales decreased 9.8% to $485.6 million. Revenue dropped 10% to $485.6 million. The company had a loss of $25.2 million, or 91 cents a share, wider than its prior-year quarter loss of $7.2 million, or 25 cents a share.

Strong growth in its e-commerce divisions couldn't lift profits at Nordstrom Inc., which reported a drop in earnings for the first quarter. 

For the period ended May 2, Nordstrom reported a profit of $128 million, or 66 cents a share, down from $140 million, or 72 cents a share, a year earlier. The retailer also reported that Nordstrom.com and Nordstromrack.com had a combined 70% increase in sales in the first quarter.

Spartanburg, S.C. - Denny's Corp. is cooking up something good on the back end. The casual dining chain has chosen Havi Global Solutions LLC (HGS) as its lead supplier of supply chain and packaging solutions.

Secaucus, N.J. – A reduction in cost of sales helped The Children’s Place Inc. boost net income 15% to $15.6 million in the first quarter of fiscal 2015 from $13.6 million in the same quarter a year earlier. The Children’s Place achieved this increase in profitability even as net sales dropped 1% to $404.9 million, from $410.15 million.

Negative impact of foreign currency exchange fluctuations drove the reduction in net sales. Same-store sales rose 0.7%.

Five Below is accelerating its expansion plans with the opening of three new stores in Kansas City this week.

"Entering the Kansas City metro area and opening our first store in Kansas, our 24th state, is very exciting as we continue to grow our footprint across the country," said Joel Anderson, CEO of Five Below. "We're thrilled to develop new relationships with customers in this dynamic market. Kids and parents looking for a fun place to shop for trend-right, high quality products at a great value will surely enjoy Five Below."

Sally Beauty Holdings Inc. has confirmed that there was an “illegal intrusion” into the company’s payment card systems. It is the retailer’s second data breach in a little over the year. Here are insights on the breach from four security experts:

Steve Hultquist, chief evangelist at RedSeal, the security analytics company:

Dillard’s joined Macy’s, Kohl’s and JCPenney in reporting lackluster results as a result of weak sales in the first quarter.

For the first quarter ended May 2, Dillard’s reported of $109.6 million, or $2.66 a share, compared with $111.7 million, or $2.56 a share, in the prior year quarter. Same-store sales declined 1%.

For the third year in a row, Macy’s is asking shoppers to donate to America’s veterans – but this time there’s a selfie involved.

Macy’s is teaming up with Got Your 6 on a new charitable program, which kicks off with an innovative social media campaign, #AmericanSelfie, a “Got Your 6 Saturday” savings pass, and a commercial spot with Emmy Award-winning host and producer, Ryan Seacrest.