News

Gordmans shrinks Q3 loss, will open two stores
Omaha, Neb. — Gordmans Stores Inc. was able to reduce its net loss in the third quarter of fiscal 2015 as a result of gross margin improvements. Net loss totaled $3.03 million, compared to $3.19 million the same quarter a year earlier.

Net sales increased 2% to $143.4 million from $141 million Same-store sales dropped 1.6%, negatively impacted due to a sales tax holiday shift from July to August.

Gordmans intends to open two additional new stores in the third quarter of 2015 and close one store later this year when the lease term expires.
Bon-Ton net loss grows in Q2
York, Penn. – The Bon-Ton Stores Inc. saw its net loss grow to $39.6 million from $36.2 million in a difficult second quarter of fiscal 2015. An early mortgage termination led to the increased loss.
Unseasonably cool weather and shrinking traffic drove net sales down 1% to $555.4 million from $563.5 million. Same-store sales fell 0.2%, although e-commerce sales grew in the double digits.

Saks Fifth Avenue tries on some Manolos

Saks Fifth Avenue's New York flagship is targeting upscale shoe lovers with a historic partnership.
Kirkland’s misses with growing Q2 loss, plans 40 new stores

Nashville, Tenn. — Even as net sales climbed, Kirlkland’s Inc. missed Wall Street expectations with growing net loss in the second quarter of fiscal 2015. Increases in operating expenses and depreciation helped more than double net loss to $2.3 million from $1.1 million the same quarter a year earlier.

Net sales rose 10% to $233.6 million from $211.7 million. Same-store sales, including e-commerce, rose 4.8%.
Michaels crafts a new partnership with startup

Michaels is targeting online DIYers via a new strategic arrangement with a San Francisco startup.

The world's largest arts and crafts retailer has partnered with trend-driven online DIY marketplace Darby Smart to make crafting simpler and more accessible to everyone.
Report: Neiman Marcus gives dressing room perspective

Dallas — Neiman Marcus Group is giving customers a unique perspective in the dressing room. According to VentureBeat, three Neiman Marcus stores in Dallas, San Francisco and Walnut Creek, California are piloting the MemoryMirror solution from Palo Alto-based startup Memomi.
The trend at Citi Trends is profitability

The CEO of Citi Trends says well-managed inventories and improved merchandising helped the company deliver strong sales growth in the second quarter.
Rising costs halve Gap profit in Q2

San Francisco – Gap Inc. experienced increases in cost of goods sold and operating expenses as sales fell during a difficult second quarter of fiscal 2015, resulting in substantial profit decline. Gap reported net income of $219 million, down 51% from $332 million in the same quarter the prior fiscal year.
Profit almost doubles at Stein Mart in Q2, will open 21 stores

Jacksonville, Fla. — Profit almost doubled at Stein Mart Inc. during the second quarter of fiscal 2015. Stein Mart reported net income of $4.1 million, up 58% from $1.7 million the prior year quarter.

A slow pace of growth in cost of merchandise sold and essentially flat selling, general and administrative (SG&A) expenses helped drive strong profit growth. Net sales rose 4% to $311.58 million from $298.16 million.
Toys"R"Us takes lemonade stand fundraising to new level

Toys“R”Us has collected a sizable amount of money for a cause near and dear to the hearts of toy-loving kids and parents worldwide -- mostly thanks to an innovative social media campaign.

The retailer says it raised $2.2 million during its fifth annual nationwide fundraising and awareness campaign benefiting Alex’s Lemonade Stand Foundation (ALSF), a nonprofit organization dedicated to finding a cure for pediatric cancer.