News

Seattle – Online specialty jewelry and diamond retailer Blue Nile Inc. reported net income of $2.17 million for the second quarter of fiscal 2014, a 1% drop from $2.2 million in the second quarter of the previous fiscal year. Net sales also decreased 1%, to $1.06.6 million from $108 million.

Blue Nile cited falling diamond prices as having an adverse effect on its financial performance during the quarter.

Corpus Christi, Texas – Susser Holdings Corp. reported net income of $12.3 million in the second quarter of fiscal 2014, compared to a net loss of $4.3 million in the same quarter a year earlier. The elimination of a debt refinancing charge helped bring Susser back to profitability.

Susser plans to open 17 new Stripes convenience stores by the end of the year. The company also is is on track to merge with Dallas-based natural gas and propane company Energy Transfer Partners (ETP) in the third quarter of fiscal 2014.

Phoenix – Sprouts Farmers Market Inc. reported net income of $30.2 million in the second quarter of fiscal 2014, more than double the $12.5 million profit reported in the same quarter a year earlier. The elimination of pre-tax loss on extinguishment of debt of $8.2 million in the first quarter of fiscal 2013 helped boost Sprouts’ net income.

New York - Fairway Group Holdings Corp., the parent company of Fairway Market, shrank its net loss to $9.7 million in the first quarter of fiscal 2015 compared to $27.95 million in the same quarter the prior year. Declining general and administrative expenses, resulting from the elimination of IPO- and consultant-related fees from the first quarter of fiscal 2014, helped reduce net loss.

New York - Following a strong economic pick-up in fourth quarter 2013, values for both imports and exports fell during first quarter 2014, compared to the previous quarter. According to a new report from supply chain research firm Panjiva, imports dropped 5.42% and exports 3.84% from fourth quarter 2013, though activity in March fared better than in January and February.
 
Some of the report highlights include:

Salt Lake City - Overstock.com is offering a private label credit card issued through Comenity Capital Bank. To pay using the Overstock.com store card, shoppers select that option when checking out.

They are then prompted to submit a brief application, after which approval is confirmed within seconds. The card number is stored in conjunction with the customer's Overstock.com account, though the customer also receives a physical card.

New York – Kenneth Cole Productions Inc. is launching an omnichannel marketing campaign to support specific charitable projects under three company pillars – Collective Health, Civil Liberties, and Artistic Activism. The advertising campaign will be supported by a national print, outdoor, digital, and social media plan.

Irving, Texas - The Michaels Companies Inc. has recognized Polygroup Limited as its overall Vendor of the Year for product innovation, customer education and inspiration, quality products, and efficiency in supply chain. Michaels has also named Con-way Truckload as domestic transportation Supply Chain Partner of the Year and Kintetsu World Express Inc. as international Supply Chain Partner of the Year.

Eleven vendor and supply chain partners were recognized for their contributions to Michaels' success over the past year.

Boulder, Colo. - Fairytale Brownies has opened a mobile store designed for ordering any time and from any mobile device, based on the MShopper mobile commerce platform. Customers can log into an existing account, create an account or make a purchase as a guest, with no need to download an app.

Armonk, N.Y. - IBM’s research team in Brazil has created a new way for marketers to engage shoppers who cannot visually identify objects. The team created an image recognition technology which uses “identifying markers” placed around a display to recognize products between each marker by simply taking a picture.