News

The Woodlands, Texas – Conn’s Inc. named a new CEO as part of a planned succession, and also announced it beat Wall Street expectations for profit in the second quarter.

Following a year-long repositioning initiative, Conn’s has appointed Norman Miller to serve as CEO and president.

Miller brings more than 30 years of business leadership experience, most recently serving as president of Sears Automotive, and as president and COO of DFC Global Corp.

Mahwah, N.J. - Bulky, slow web pages will drive away shoppers.

According to a new study of the top 100 e-commerce sites from Radware, “State of the Union: E-commerce Page Speed & Web Performance Summer 2015,” 57% of site visitors will abandon a web page after just three seconds if they are unable to interact with the key content.

Austin, Texas – Whole Foods Market is sharing the love with its consumers, across channels.

From Sept. 9 to Nov. 3, the Whole Foods Love Fest will offer special deals and events including surprises on its local and national social media channels.

Other features will include weekly $500 giveaways in stores, weekly product offers, and customized events and giveaways.

San Diego - PriceSmart Inc. demonstrated intelligence when it comes to sales in August 2015. The U.S.-based operator of warehouse club stores in the Caribbean and Latin America increased net sales 13% to $232.7 million from $206.7 million in August a year earlier.

Same-store sales rose 3%. PriceSmart will release fourth quarter and fiscal year 2015 results on Oct. 29.
 

Minneapolis – Target Corp. has renewed its exclusive ATM services agreement with Cardtronics Inc. The latest agreement, a long-term renewal, extends a relationship between the two companies that was established in 2001.

Cardtronics currently owns and operates approximately 1,800 ATMs in Target stores located in all 50 states. All Cardtronics ATMs at Target stores participate in the company's surcharge-free Allpoint Network. Banks will have a chance to participate in the Cardtronics ATM branding program at some Target stores.
 

Fremont, Calif. – The Men’s Wearhouse Inc. likes the way its second quarter earnings look — even if its Jos. A. Bank unit continues to struggle.

Net earnings almost quadrupled to $47.8 million from $12.3 million, beating Wall Street estimates.

Houston – Rising expenses resulted in falling profits at Francesca’s Holdings Corp., which plans to slow its store expansion going forward.

Francesca’s net income fell 10% to $9.3 million in the second quarter, from $10.3 million the prior year period.

Rising boutique and payroll expenses related to new store openings were the primary factor in decreasing Francesca’s profits. However, new store openings also helped drive a 9% increase in net sales, to $106.03 million from $97.02 million.

New York – What’s in a name? When that name is Tiffany, as Costco discovered, potentially some hefty financial penalties.

Federal judge Laura Taylor Swain has ruled in favor of Tiffany & Co. in a suit the luxury retailer initially brought against Costco Wholesale Corp. in February 2013. The civil suit sought damages for what Tiffany said were fake “Tiffany” engagement rings Costco sold at one of its stores in Huntington Beach, California.

Ankeny, Iowa – Cost controls helped Casey’s General Stores Inc. boost profit even as revenue fell in its first quarter.

Net earnings grew 23% to $61.8 million from $50.1 million, driven by a significant decline in cost of goods sold.

Total revenue dropped 10% to $2.05 billion, from $2.29 billion. Fuel price volatility negatively impacted revenue results.

Casey’s annual goal is to build or acquire 75 to 113 stores, replace 10 existing locations and perform major remodels on 100 existing locations.