News

Fred's reports flat same store sales for February
The deep freeze hitting much of the United States this winter helped Fred’s improve its same store sales from the prior year, with cold weather product departments performing well in February. Fred's total sales for February, not adjusting the closed stores, decreased 2% to $154.1 million from $157.4 million in February 2014. Same store sales for the month were approximately flat versus a decrease of 2.2% in February last year.
Why retailers should be worried about Etsy
Never heard of Etsy? Time to start paying attention to the 10-year-old company that defines its value proposition as connecting people and reimagining commerce.

The unique online marketplace, where you can buy hand-knitted baby shoes or a vintage night light with Elvis Presley’s face on it, has filed for a sure-to-be-closely-watched $100 million public offering.

Harris-Teeter helps Kroger beat Street in Q4 as company racks up another impressive year

Cincinnati – Benefits from its acquisition of the Harris-Teeter grocery chain, which The Kroger Co. acquired in January 2014, helped boost results at Kroger during fourth quarter 2014. It was the supermarket giant’s 45th consecutive quarter of same-store sales growth.

Kroger’s net income rose 23% to $518 million, beating Wall Street expectations with a 22% increase from $422 million last year.
Membership, profits grow again at Costco

The holidays were happy for Costco with solid gains in sales and favorable membership trends fueling profits even as low gas prices and a strong dollar had a profound effect on same store sales.

Sales increased 4% to $26.9 billion and membership sales grew 5.8% to $582 million, resulting total revenues that grew 15.8% to $27.5 billion during the company’s second quarter period ending Feb. 15. Total company same store sales advanced 8% excluding the impact of fuel prices and a stronger U.S. dollar.
American Eagle offers omnichannel road trip promotion

Pittsburgh - American Eagle Outfitters and Aerie are launching the "Ultimate Road Trip" sweepstakes in stores nationwide and online from March 7 through March 18. Entrants have the opportunity to win a grand prize of a restored Volkswagen Westfalia valued at approximately $25,000 and $10,000 in cash to create their own ultimate road trip experience.
Pharmacy sales lift Rite Aid in 2014

Strong traffic in the pharmacy department helped Rite Aid post a lift in same-store sales for the 52 weeks ended Feb. 28.

Same-store sales for the 52-week period increased 4.3% over the prior-year period. Front-end same-store sales increased 1.2%, while pharmacy same-store sales increased 5.8%. Prescription count at comparable stores increased 3.5% over the prior-year period.
Online crafts marketplace Etsy looks to go public with $100 million IPO

Brooklyn, N.Y. - Etsy Inc., the popular online bazaar where people sell artsy goods and handmade crafts and clothing, has filed a registration statement with the U.S. Securities and Exchange Commission for a proposed initial public offering (IPO) in which it hopes to raise at least $100 million.
Port dispute, weather slam Conn's deliveries

The labor dispute at the West Coast ports and harsh winter weather are among the reasons Conn's reported a drop in same store sales for February.

Conn's said same store sales dropped 5.8% in February, compared to a 14.9% increase in the prior-year period.
Bealls to launch Bunulu concept in 2015

Bealls Inc., the 100-year-old Florida-based department store retailer, is developing a specialty store concept, called Bunulu, which will debut by the end of 2015.
SpartanNash names ex-Walgreens exec as president

Grocery distributor and retailer SpartanNash is looking to a former Walgreens executive to help drive growth.

Derek Jones, currently SpartanNash’s EVP, food distribution, has been promoted to president, wholesale and distribution operations. He will oversee the entire supply chain, including military supply chain operations.