News

Ulta roars ahead in Q2; on track to open 100 stores and launch TV advertising
Bolingbrook, Ill. -- Fast-growing Ulta Beauty shows no signs of losing its momentum as the specialty retailer reported better than-expected results for the second quarter and raised its guidance.

On its quarterly earnings call, Ulta said it will launch a national television advertising campaign.

Ulta’s net profits increased 8.5% to $74.2 million, from $60.8 million in the year-ago period, helped by an improved online assortment and less overall discounting.
There's a new (retail) box in town
Retailers that stock the world’s top drugstore brands may be in for some competition from Pharmabox, which plans to install its first automated kiosk in a mall in the Miami area.

The cost-cutting continues at Chico's

While sales at Chico’s appear to be improving, the specialty retailer's turnaround plan also includes selling off one of its divisions.
Destination XL sees more opportunity for expansion

Canton, Mass. — Specialty men’s retailer Destination XL Inc. reported Thursday that it shrank its net loss in the second quarter.

The company also raised its potential store count from 250 to 400. As a result, the retailer expects to open 30 to 40 DXL stores per year through fiscal 2020.

During fiscal 2015, Destination XL plans to open approximately 30 DXL retail and eight DXL outlet stores and close approximately 41 Casual Male XL and three Rochester clothing stores.
Foreign currency hits Guess in Q2

New York — Guess Inc. cited the negative impact of foreign currency fluctuations on earnings and sales in a difficult second quarter of fiscal 2016. Net earnings totaled $18.3 million, a 17% decrease compared to $22 million for the second quarter of fiscal 2015.

Total net revenue decreased 10%, from $608.6 million to $546.3 million. Same-store sales, including e-commerce, dropped 2.8% in the United States and Canada. In one bright spot, top-line e-commerce sales grew 20%.
J. Crew swings to loss

New York — It was tough sledding for J. Crew Group in the second quarter as its namesake brand continued to decline. The retailer swung to a net loss of $13.6 million for the quarter, ended Aug. 1, compared with earnings of $10.8 million in the year-ago period. Revenue fell 5% to $593.6 million.
Candy, tobacco help lift Dollar General's sales

Dollar General grew customer traffic and average ticket for the 30th consecutive quarter even as the company refocuses on efforts to strengthen topline growth.
Meijer celebrates mPerks with major milestone

Meijer's free digital savings program, mPerks, is turning 5 this week and has already set a company record with $100 million in savings to customers this year.
Report: Amazon scaling back hardware development

As Amazon.com deals with the fallout from a New York Times article over working conditions, another media outlet reports the retailer is scaling back its consumer device division and laying off dozens of employees in its hardware development center.

The division, called Lab126, last year released a flurry of 10 devices, including a television set-top box, the Echo and a wand for scanning bar codes at home, according to the Wall Street Journal.
Burlington Stores swings to profit, plans 25 net new stores

Burlington, N.J. — Burlington Stores Inc. is in the black.

The company swung to a net income of $10.9 million in the second quarter of fiscal 2015 from a net loss of $6.47 million the same quarter of last year. Decreases in stock option and interest expenses, as well as some impairment charges, helped bring Burlington to profitability.

Net sales rose 10% to $1.14 billion from $1.04 billion, while same-store sales grew 5.6%.