News

Pantry merger wait period expires
Cary, N.C. - The Pantry Inc. has announced the expiration of the waiting period under the U.S. Hart-Scott-Rondino Act for to the proposed merger between The Pantry and a U.S. subsidiary of Alimentation Couche-Tard Inc. Pantry stockholders approved the merger agreement at a special meeting on March 10.
Buckle buttons down solid Q4
New York -- After five consecutive quarters of declining same-store sales, teen retailer the Buckle may be coming out of its slump.

The Nebraska-based company reported net sales of $353.5 million, 4.3% higher than the year-ago quarter. Same store sales grew 1.1%. Net income rose by about 1.3% to $60.1 million, producing earnings of $1.25 per share, ahead of analysts’ estimates.

Hibbett Sports beats Street in Q4; will open 80-85 stores

New York -- Hibbett Sports is on track to open at least 80 new stores in 2015 as strong holiday sales and early tax refunds gave the retailer a boost in the January quarter.

The company posted quarterly earnings of $19.9 million, compared to $16.9 million, in the year-ago period. EPS surged to $0.79 from $0.64. Its sales gained 9.9% to $239.3 million. Same store sales rose 5.4% in the quarter.
C-Spire Wireless, Quitman, Miss.

C-Spire Wireless is providing a fresh take on wireless shopping. The company's new, customer-inspired prototype provides a a hands-on, interactive experience in an easy-to-shop environment that encourages customers to explore.
Aeropostale Q4 loss narrows; may close 50 to 75 stores

New York -- Aeropostale Inc. decreased its loss in the fourth quarter, and reported its first adjusted operating profit in its last eight quarters. But the struggling teen apparel retailer said it is considering potentially closing approximately 50 to 75 Aeropostale stores and one P.S. Store in 2015.

Aeropostale's net loss narrowed to $13.5 million in the fourth quarter ended Jan. 31, down from $70.3 million a year earlier.

Net sales fell 11.3% to $593.8 million. Comparable sales declined 9%.
Ann Inc. profit drops amid port dispute; still tops Street

New York -- Ann Inc. on Friday posted a 94% drop in profit for the fourth quarter as incremental air freight costs in response to the West Coast ports dispute and lower margins resulting from increased promotional activity cut into sales. Its results, however, topped the Street forecasts. The company also announced efforts to deliver an additional $35 million in cost savings by 2016 through a new selling, general and administrative optimization program.
Citi Trends promotes chief merchant to CEO as Q4 tops view

Savannah, Ga. -- Citi Trends Inc. on Friday announced a change in leadership as its reported fourth quarter results that topped forecasts. The urban apparel retailer said that Ed Anderson is retiring as CEO, effective March 21, with Jason Mazzola, currently executive VP and chief merchandising officer, becoming president CEO effective March 22, and being appointed to the board of directors, effective immediately.

Additionally, Bruce Smith, executive VP and CFO, will also become its COO.
Katy and Kate join Five Below board

Kroger executive Kathleen “Katy” Barclay and former Coach executive Catherine “Kate” Buggeln are the newest member of the Five Below board of directors.

Despite similarities in name, Katy Barclay and Kate Buggeln bring different strengths to the rapidly growing teen and tween retailer’s board. Barclay has more than 35 years of experience in the human resources field and currently serves as senior vice president of human resources at Kroger.
Aeropostale to close as many as 75 more stores

Aeropostale Inc. says it is considering closing as many as 75 additional stores despite reporting a smaller profit loss in the fourth quarter.

The company’s net loss narrowed to $13.5 million in the fourth quarter ended Jan. 31, down from $70.3 million a year earlier. Net sales fell 11.3% to $593.8 million. Comparable sales declined 9%. Aeropostale closed more than 180 stores over the three months that ended Jan. 31. It currently has about 850 stores in North America and another 239 licensed Aeropostale stores worldwide.
Ann Inc. profits hindered by ports dispute

Ann Inc. is blaming its huge fourth-quarter profit loss on expenses related to deep discounts and the West Coast ports dispute.

For the quarter ended Feb. 1, net earnings at Ann Inc. came in at $262,000, or 1 cent a share, compared with $4.7 million, or 10 cents a share, in the same period a year ago. Total sales rose to $647.4 million from $623.3 million, beating the analysts’ estimates of $627 million. Same-store sales rose 1%, with Ann Taylor brand sales declining 0.4% and Loft brand sales rising 1.9%.
Big moves and profits for Citi Trends

The turnaround at Citi Trends seems nearly complete and now the urban fashion retailer is making some major executive moves just as it reported impressive fourth quarter results.

The retailer announced that Ed Anderson is retiring as CEO, effective March 21. Jason Mazzola, currently EVP and CMO, will become president and CEO effective March 22 and has been also appointed to the Board of Directors.

Additionally, Bruce Smith, the Company’s Executive Vice President and Chief Financial Officer, will also become its Chief Operating Officer.
Express to open at least 30 outlet stores

Express is going full-steam ahead with its outlet-store strategy, with plans to open 30-plus stores in 2015. The retailer ended the year with 41 outlet stores in operation.

“Together they generated approximately $55 million of incremental revenue, far surpassing our initial estimate,” said Paul Dascoli, senior VP and CFO, Express, on the chain’s quarterly earnings call. Express is expanding its outlet store division both through new construction and conversions.