News

By Bret Cunningham, president, BestFit Mobile

Miami – Consolidated net income at Burger King Worldwide Inc. grew 68.7% year-over-year during the first quarter of fiscal 2014, rising to $60.4 million from $35.8 million. In the same period, total revenues fell 26.5% to $240.9 million from $327.7 million.

Systemwide same-store sales grew 2%. Burger King cited severe weather as negatively affecting North American sales, as well as the net refranchising of 327 company-owned stores during the quarter. The retailer attributed its net income growth to improvement in overseas EBITDA performance.

Foothill Ranch, Calif. - The Wet Seal Inc. will begin winding down its Arden B brand. Arden B currently operates 54 mall-based stores and an e-commerce website.

Pittsburgh – GNC Holdings Inc. is launching a new national brand campaign: "Beat Average." The campaign is designed to open a conversation with health-and-wellness consumers about their daily personal wellness goals and how GNC can be their ongoing partner and ally in beating average.

Atlanta – Severe weather had a negative impact on financial performance at Aaron’s Inc. during the first quarter of fiscal 2014. Compared to the same period a year earlier, Aaron’s net earnings declined 25% to $38.3 million from $51 million.

Revenues dropped 1% to $585.4 million compared to $593.0 million for the first quarter in 2013. Same-store sales shrank 2.1%.

Sunbury, Pa. – Weis Markets plans to invest $101 million in its growth program in 2014. That figure encompasses spending on 16 projects during 2014, including expansion of Weis’ 1.1-million-sq.-ft. distribution center in Milton, Pennsylvania.

Seattle – Amazon.com’s net income soared 32% during the first quarter of fiscal 2014, climbing to $108 million from $82 million the same quarter a year earlier. Net sales increased 23% to $19.74 billion in the first quarter, compared with $16.07 billion in first quarter 2013.

Space Ninety 8, a new concept from Urban Outfitters, has opened in the uber-hip Williamsburg section of Brooklyn, New York. Big and spacious, the multi-level space is located in a renovated warehouse. It has an industrial look, complete with exposed ceilings and brick wall, with lots of boho-chic accents.  

The basement level houses a pop-up, with Adidas originals serving as the inaugural tenant. The space is colorful, with bold, crazy prints (the work of a local artist) accenting the walls and displays.

Top executives within Walmart’s international division have been assigned new responsibilities including a new role for the former head of Asian operations overseeing mergers and acquisitions.

Regional grocer Weis Markets is pressing forward with a $101 million capital expenditure program this year as it looks to restore top line growth at its Northeast operations.

The operator of 166 stores, 122 of which are located in Pennsylvania, confirmed a previously disclosed capital expenditure budget of $101 million would be used to fund 16 projects. Those projects consist of two new stores under construction in Selinsgrove and Enola, Pa., 13 remodels and expansion of a 1.1 million-sq.-ft. distribution center in Milton, Pa.