News

Lack of hit books hits Books-A-Million
Birmingham, Ala. – Books-A-Million needs more best-sellers.

A lack of hit books hit fiscal results of Books-A-Million Inc. during the second quarter of fiscal 2015. Net loss grew to $5.8 million from $3 million the same quarter a year earlier, with costs and expenses rising or staying flat in the face of slipping revenues.

Net sales dipped to $107.9 million, from $108.3 million. Same-store sales dropped 0.3%.
Big Lots Q2 beats Street; announces exec promotions
Columbus, Ohio – Big Lots on Friday reported second-quarter profit and revenue that beat analysts' estimates. The retailer also announced several promotions as part of a realignment of its supply chain management.

Big Lots’ net income dropped 13% to a better-than-expected $17.63 million from $19.94 million, with loss from discontinued operations cutting otherwise flat profit.

Net sales for the quarter increased 1% to $1.21 billion, from $1.19 billion. Same-store sales rose 2.8%.

GameStop scores big jump in same store sales

GameStop Corp. grew sales and revenue in the second quarter, but it also took steps to expand its non-gaming business.

For the second quarter ended Aug. 1, the retailer’s net income rose 3% to $25.3 million from $24.6 million. Total global sales rose 2% to $1.76 billion from $1.73 billion, and consolidated global same-store sales increased 8.1% (10.8% in the U.S. and 1.8% internationally).
Big changes and growth for Big Lots

The turnaround plan at Big Lots, which is helping the retailer grow profit and same store sales, is also prompting some management changes.

For the second quarter ended Aug. 1, same store sales increased 2.8%. Net sales increased 1.2% to $1,209.7 million. Big Lots reported a profit of $17.6 million, or 34 cents a share, down from $19.9 million, or 36 cents, a year earlier. Excluding certain items, per-share profit rose to 40 cents from 31 cents. Revenue edged 1.2% higher to $1.21 billion.
Ulta: A thing of beauty

Ulta Beauty is continuing to deliver blockbuster financial results by attracting blockbuster numbers of shoppers to its stores.

The beauty retailer reported a 7% increase in customer traffic for the second quarter ended Aug. 1 and average spending rose by 3%. The company also raised its outlook for the second time this year: Comps are now targeted at rising 9%, rather than the 8% the Ulta team forecast in May.
Destination Xl sees more room for expansion

Specialty men’s retailer Destination XL Inc. reported Thursday that it shrank its net loss in the second quarter.
Carhartt opens flagship store where it all began

Workwear brand Carhartt has opened a flagship in the city where it was founded in 1889.
Michaels paints a pretty financial quarter

The CEO of Michaels says an improved merchandising strategy and a focus on the customer experience helped drive sales growth at the specialty retailer in the second quarter.

Total sales increased 3.8% to $984.3 million in the second quarter ended Aug. 1 at Michaels and same store sales increased 2.9%. Michaels reported a profit of $35.7 million, or 17 cents a share, vs. a loss of $46.8 million, or 26 cents a share, a year ago.
Not so fast on data breach liability

Would-be experts are portraying a federal appeals court ruling in the Neiman Marcus data breach case as a tipping point toward victims of cyber fraud, one that may lead to a wave of successful class-action lawsuits filed against retail chains.

This interpretation is premature.

It is an overreach rooted in a lack of appreciation for the overall procedural context in which the court reviewed the case, without accounting for the most important part of any class action lawsuit – class certification.
Not even Harper Lee could save BAM in Q2

Books-A-Million needs a lot more best-sellers.
J. Crew swings to loss

New York — It was tough sledding for J. Crew Group in the second quarter as its namesake brand continued to decline. The retailer swung to a net loss of $13.6 million for the quarter, ended Aug. 1, compared with earnings of $10.8 million in the year-ago period. Revenue fell 5% to $593.6 million.
GameStop a winner in Q2

Grapevine, Texas – GameStop Corp. on Thursday posted a strong second quarter, with profit and revenue that topped analysts’ estimates.

The retailer’s net income rose 3% to $25.3 million from $24.6 million.