News

Canada-based convenience store operator Alimentation Couche-Tard posted net earnings of $287 million in the third quarter of its fiscal year, up 4.7% from the previous-year period.   Same-store merchandise sales fell by a point in Europe, but were up 1.9% in the U.S. Same-store gasoline sales volumes rose 2.8% stateside.   Couche-Tard’s global rebranding of its Circle K stores proceeded at a quick pace during the quarter, with more than 1,000 U.S. stores completed.  

Weak traffic and unseasonably warm weather impacted Bon-Ton’s earnings for the fourth quarter.   For the period ending January 28, 2017, the department store chain reported net income of $44.7 million, or $2.09 per diluted share. These earnings fell short of analyst estimates by 37 cents.   The chain reported revenue of $900 million for the period, and comparable store sales decreased 4.7%.  

Neiman Marcus posted another quarter of declines for its second quarter.   For the period ended January 28, 2017, the chain reported total revenues of $1.40 billion, a decrease of 6.1% compared to $1.49 billion for the second quarter of fiscal year 2016. Comparable revenues decreased 6.8%.   

DSW credits inventory management and more focused campaigns for its profit growth during the fourth quarter.   For the period ended January 28, 2017, the chain’s sales increased 0.4% to $674.6 million, including $27.9 million in revenues from Ebuys. This profit of 20 cents per share was four cents better than analysts were expecting for the quarter, however sales missed their estimates of $695.5 million.    Adjusted net income was $16.5 million, an increase of 43% over last year.

In a move that will help it focus on its North American stores, Staples is selling its Australia- and New Zealand-based operations.   Staples announced Tuesday, March 13, that private equity firm Platinum Equity will acquire these stores for an undisclosed sum. The transaction is expected to close in the second calendar quarter of 2017.  

Asda is making its workforce an enticing offer.   The British supermarket owned by Walmart is offering staff in its stores a 14% increase in their hourly pay if they sign a contract requiring more flexible working, according to Reuters.   The deal requires Asda staff to work in different parts of stores and dif-ferent days or hours, including public holidays. All breaks will be un-paid.  

Gander Mountain has filed for bankruptcy, but it is proactively seeking a buyer.    The sporting goods retailer, which announced Friday, March 10 that it has filed for Chapter 11 protection, said it will pursue a “going concerns sale,” enabling it to function without the threat of liquidation for the foreseeable future.   

An increase in revenue and comparable store sales helped Tilly’s beat analyst expectations for the fourth quarter.   For the period ended January 28, 2017, Tilly’s revenue was $160.2 million, an increase from $159.1 million last year. Net sales also topped Wall Street forecasts of $159.9 million. The chain also beat analyst predictions of earnings hitting 21 cents per share. Tilly’s posted a profit of 22 cents per share.  

Data and analytics is more than a business foundation — it is a key differentiator in an increasingly competitive marketplace, according to Target’s senior VP Paritosh Desai.   As a result, Target is making a big push to add top tech talent, from software engineers to data scientists — a move that pushed the chain to “acquihire” tech companies. In this practice, larger companies acquire smaller ones to obtain their technology and, essentially, hire their leadership and teams.  

Albertsons on Friday appointed Jonathan Mayes to the post of senior VP external affairs and chief diversity officer. In his new role, he will head up the company’s diversity and inclusion efforts, as well as its government relationships, philanthropy and sustainability departments.