News

Home decor superstore goes public; looks to grow store portfolio
At Home on Friday started trading its shares on the New York Stock Exchange. The Plano, Texas-based retailer has been growing its store base at a rate of 20% annually for the last three years, reported the Dallas Morning News. It now operate 115 stores in 29 states across the South and Midwest.
Report: Walmart testing new employee scheduling system
Walmart is testing a new scheduling system designed to improve peak-hour scheduling and gives its employees more certainty about their job schedules, the Associated Press reported. The system was rolled out to the chain’s 650 Neighborhood Market stores in July, and could eventually be deployed across Walmart’s entire U.S. store network, according to the report.

Fred’s sales take a hit in July

Fred's Inc. saw July sales drop 7% to $154 million, compared to $165.6 million in the same period last year. Comparable store sales for the month declined 4.6%, compared with an increase of 0.7% in the year-earlier period. Fred's total sales for the second quarter of fiscal 2016 decreased 3.4% to $527.7 million, from $546.1 million for the same period last year. On a comparable store basis, second quarter sales decreased 2% versus an increase of 0.9% for the year-earlier period.
Papa John’s re-ups with NFL

Papa John’s is the most recognized brand among fans of the National Football League and the chain intends to keep it that way, announcing it had renewed its multiyear deal as the official pizza sponsor of the NFL and the Super Bowl. In that regard, Papa John’s is permitted to use NFL logos in its advertising and conduct integrated marketing campaigns involving the NFL Kickoff event and the Pro Bowl in addition to the Super Bowl.
Off-pricer rolls out new format

Tuesday Morning is showing off its updated prototype at two locations. The chain’s expanded store at Preston Shopping Center, Dallas, and new store at Parker Central Shopping Center, in Plano, feature new fixtures, flooring, improved lighting and a redesigned store layout that makes it easier for customers to shop. The format also includes an expanded assortment of goods.
Ikea eyes second Denver location

Ikea has tabbed a 123-acre parcel 17 miles north of downtown Denver as the potential site of its second location in the metro. The Swedish furniture retailer made its debut in the area with a store in Centennial in 2011. Ikea set no time frame for the opening of the second store, though the city of Denver has begun the process of incorporating a new Ikea into the master-planned retail center destined for the site in Broomfield at the intersection of Interstate 25 and State Highway 7.
Weis Markets begins aggressive expansion into Baltimore market

Weis Markets on Thursday announced it has converted and reopened five former Mars Super Markets as Weis Markets stores located in Baltimore County, including two locations in Dundalk and individual units in Essex, Arbutus and Carney.
Sprouts Farmers beats Q2 profit forecasts

Sprouts Farmers Market Inc. reported second-quarter net income of $37.2 million, which topped Wall Street expectations. The natural and organic food retailer posted revenue of $1.03 billion in the period, narrowly missing Street forecasts of $1.04 billion, but topping last year’s sales by 14%. Same-store sales grew 4.1% in the period.
Cato records dip in July total sales and comps

The Cato Corp. reported sales of $61.2 million for the four weeks ended July 30, down 8% from the same period a year ago. Same-store sales for the month were down 10% from the prior year. On a quarterly basis, Cato sales for the second quarter fell 5% to $236.7 million, compared to $249.2 million a year ago. Second quarter same-store sales were down 6% from the prior year.
Michaels buys Hancock Fabrics brand

Michaels purchased the rights to Hancock Fabrics’ brand and intellectual property for $1.3 million from U.S. Bankruptcy Court in Delaware. The Texas-based crafts retailer takes possession of its ex-rival’s patents and trademarks, as well as its name. Personal and transactional data from 10 million Hancock customers was included in the deal, according to the Memphis Business Journal.