News

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.
Menear says Home Depot plans to stay on a roll

Thanks to homeowners who are sitting on their houses and Millennials who are starting to buy some, Home Depot CEO Craig Menear sees a rosy revenue picture ahead for home centers.
Publix reports a 2.1% sales boost in Q2

Publix’s sales for second quarter 2016 were $8.1 billion, a 2.1% increase from last year’s $8 billion. Comparable-store sales for second quarter 2016 increased 1.1%. The company says sales were negatively impacted by 1.2% due to the effect of the Easter holiday being in the first quarter in 2016. In 2015, the effect of the Easter holiday was in the second quarter.
HSN taps moves c-suite exec to anchor Cornerstone division

HSN’s CFO and COO is taking a new job, but she won’t have to travel far. Judy Schmeling has assumed the helm of the Cornerstone Brands division of HSN, which consists of home and apparel banners such as Frontgate, Garnet Hill, Grandin Road and TravelSmith. Schmeling, who will continue to report to HSN CEO Mindy Grossman, will maintain her COO position at HSN, and she will remain CFO until a successor is appointed.
Sally Beauty meets Q3 forecasts; names cyber-security expert to board

Sally Beauty Holdings Inc. reported fiscal third-quarter earnings of $67.9 million, which matched Wall Street expectations. Revenue for the period was $998.2 million, missing Street forecasts of $1 billion. In other news, the Sally board named global cyber security expert Erin Nealy Cox as an independent director, effective Aug. 1.
RediClinic names CFO

RediClinic convenient care clinics has named a seasoned healthcare executive as its new CFO. Jeff Fields is joining Health Dialog, provider of population health management services, and RediClinic as CFO. He will be responsible for the fiscal management of both RediClinic and Health Dialog as they continue to grow in the total population management services and retail health care markets.
Jo-Ann crafts a mobile cash-back solution geared toward millennials

Jo-Ann Fabric and Crafts’ foray into mobile rebates is part of the 850-store chain’s strategy for reaching millennials. The retailer has partnered mobile shopping app provider Ibotta to offer cash-back rebates on in-store purchases, something Jo-Ann’s feels will build loyalty among the millennial set. The multi-year partnership will provide users with special offers and cash-back options at any one of Jo-Ann Stores retail locations.