News

The Fresh Market is not so fresh anymore to shoppers, if the retailer's second quarter results are any indication.

The upscale grocery chain reported that same-store sales decreased 1% for the second quarter ended July 26, and the retailer expects an even bigger decrease in the next quarter, both below analysts' estimates. 

The company reported 36 cents EPS for the quarter, missing analysts’ estimates of 40 cents. Net income rose 53.5% to $17.5 million, while net sales increased 4.7% to $442.1 million. 

The chief executive at Tuesday Morning says the company efforts to rehabilitate sales growth are working, as the company posted an increase in same store sales.

The Texas-based retailer of closeout home furnishings said net sales in the fourth quarter ended June 30 increased 0.2% to $213 from $212.6 million, impacted by the net closure of 41 stores in the current fiscal year. Same store sales increased 3.6%.

On the heels of another successful quarter from off-price rival TJX, Ross Stores Inc. also reported a spike in same store sales for the second quarter.

For the second quarter ended Aug. 1, Ross Stores says net earnings rose 8% to $259 million from $240 million the same quarter the prior fiscal year. Sales rose 9% to $2.97 billion from $2.73 billion, with same-store sales up 4%

New York & Company Inc. says a stronger focus on omnichannel is helping the retailer increase traffic in its stores and sales online.

Michael Leedy, chief marketing officer of American Eagle Outfitters Inc., will step down from his position effective Sept. 15. The company has an active search for a successor underway.

Leedy has committed to serve in an advisory role if needed to ensure a smooth transition. American Eagle did not comment on the reason for Leedy’s departure, and his LinkedIn profile still indicates he works there.

Hibbett Sports Inc. says a shift in back-to-school tax-free weekends was to blame for softness in same store sales in the second quarter.

The sporting goods retailer says net sales for the 13-week period ended Aug. 1 increased 2.8% to $199.3 million compared with $193.9 million for the 13-week period ended Aug. 2, 2014. Same store sales decreased 1.1%. Net income was $7 million compared with $8.4 million for the 13-week period ended Aug. 2, 2014. Earnings per diluted share totaled 28 cents, compared with 32 cents for the 13-week period ended Aug. 2, 2014.

Foot Locker Inc. continues to cash in on the trend toward wearing fashionable active apparel, as the company reported impressive sales and earnings growth in its latest quarter.

For the second quarter ended Aug. 1, the retailer posted net income of $119 million, or 84 cents per share, compared with net income of $92 million, or 63 cents per share, last year, a 33% increase. Same store sales increased 9.6%. Total sales increased 3.3%, to $1,695 million this year, compared with sales of $1,641 million for the corresponding prior-year period.  

Cyber security professionals have somewhat resigned themselves to the fact that data breaches are inevitable and placed an emphasis on how to manage a highly fluid situation.

After last year’s large retail data breaches, the industry has doubled-down on efforts to protect customer records. Most retailers now have data breach response teams in place and leaders have called for increased industry collaboration on cybersecurity. However, the threats continue to evolve and effectively managing security incidents requires constant evaluation.

Amazon.com is planning to open a fifth fulfillment center in the state of Texas.

In Texas, Amazon currently employs more than 3,500 full-time associates, has invested more than $400 million in the state and continues to grow its operations to meet customer demand. Amazon’s other Lone Star State fulfillment centers are located in Schertz, Coppell, and Haslet, with a fourth facility under construction in Dallas.

San Francisco – Gap Inc. experienced increases in cost of goods sold and operating expenses as sales fell during a difficult second quarter of fiscal 2015, resulting in substantial profit decline. Gap reported net income of $219 million, down 51% from $332 million in the same quarter the prior fiscal year.