News

Atlanta – A rising cost of sales kept net income at Havertys Inc. essentially flat at about $4.83 million during the second quarter of fiscal 2015. Profit stayed even despite net sales rising 7% to $187.73 million, from $175.13 million the same period a year earlier.

Same-store sales increased 4.8%. Havertys plans to open a net total of three new stores by the end of the fiscal year.

Watsonville, Calif. – West Marine's renewed focus on omnichannel growth seems to be paying off as the specialty retailer reported a big spike in same-store sales in the second quarter.

The California-based retailer reported net income of $20.9 million, up 14% from $18.3 million the same period a year earlier.

Net revenues were $253.2 million in the second quarter ended July 4, an increase of 7.1% compared to last year. Same-store sales increased by 7%.

The company also gave an update on its growth efforts:

Manhattan Beach, Calif. – Skechers USA Inc., which recently passed Adidas to become the number two athletic footwear brand in the United States, is on the fast track.

The company, whose second quarter sales beat estimates, has carved out a lucrative niche in casual athletic footwear and in kids’ athletic footwear. It is in expansion mode, with plans to open 125 to 135 company-owned and third-party-owned stores later this year.

Pittsburgh – GNC Holdings Inc. missed Wall Street expectations for profit and revenue in a generally disappointing second quarter of fiscal 2015. GNC reported net income of $67.4 million, a decrease of 4% from $69.9 million for second quarter 2014.

Cost of sales increases were a key factor in reduced net income. GNC reported consolidated revenue of $678.5 million, an increase of 0.5% as compared with $675.2 million. Revenue growth was limited by a 2.8% same-store sales drop in company-owned stores, including GNC.com.

Camp Hill, Pa. – The temperature wasn’t the only thing rising at Rite Aid stores during July 2015.

Same-store sales rose 2.4%, with front-end same store sales increasing 0.1%. Pharmacy same-store sales, which included an approximate 2.21% negative impact from new generic introductions, increased 3.4%.

For the first time in history, business and consumers can be robbed and conned by strangers who are thousands of miles away and nearly impossible to catch. The e-commerce ecosystem is clearly struggling to cope with all the new and multiplying forms of fraud.

WOONSOCKET, R.I., and ARMONK, N.Y. — CVS Health and IBM on Thursday announced they will use predictive analytics and Watson cognitive computing for care management services for patients with chronic disease.

After announcing in January that it would close all of its 127 retail locations, Jones New York is back -- at least in the Great White North.

O'Reilly Automotive reported another record-breaking quarter of financial results as the retailer revs up plans to expand its distribution network and store footprint.

The auto parts retailer reported that sales for the second quarter ended June 30 increased $188 million, or 10%, to $2.04 billion from $1.85 billion for the same period one year ago. Same store sales increased 7.2%.

This year, O’Reilly plans to add a net 205 stores, compared with 200 stores in 2014. In the latest period, it opened 34 stores.

Procter & Gamble Co. has named a successor to the man who led the company's recent transformation.