FINANCE

A little over one year since it acquired rival Family Dollar, Dollar Tree reported revenue that missed Wall Street expectations amid lower customer traffic.     Dollar Tree and other discounters are also feeling the impact of a recent change by some states regarding the criteria for the Supplemental Nutrition Assistance Program (SNAP), which has made thousands of households ineligible for benefits.      

Ulta Beauty on Thursday posted another spectacular quarter amid surging sales. It was the ninth consecutive quarter that the beauty retailer topped expectations.    Ulta reported net income for the quarter, ended July 30, rose 21.3% to $90.0 million compared to $74.2 million in the year ago period.    Net sales increased 21.9% to $1.07 billion from $877.0 million in the year-ago quarter.   

Dollar General Corp. reported lower-than-expected revenue for the second quarter amid increasing competition and reduced food stamp coverage.   The company’s net income was $306.52 million, or $1.08 per share, in the quarter, compared to net income of $282.35 million, or $0.95 per share, in the year-ago period.   Net sales increased 5.8% to $5.39 billion, compared to $5.10 billion last year.   

Signet Jewelers Ltd. reported its first drop in same-store sales in six years in its second quarter as the company continues to deal with rumors that it swapped expensive diamonds for cheaper stones.   Signet, whose banners include Zale, Kay Jewelers and Jared, posted a 2.3% drop in same-store sales in the quarter ended July 30. Wall Street analysts had expected a slight increase.   Net sales fell 2.6% to $1.37 billion.  

Sears Holdings Corp. swung to a loss amid declining sales in the second quarter, and chairman and CEO Eddie Lampert stepped in with more financing for his embattled company.   Sears said it had accepted a $300 million debt-financing offer from Lampert’s hedge fund, ESL Investments Inc. The loan is secured by a junior lien against Sears's inventory, receivables and other working capital.  

The battle between bankrupt Aeropostale Inc. and Sycamore Partners has grown more heated.     Aeropostale and its junior creditors have come together in an effort to save the chain, but Sycamore isn’t having any part of it. The private equity firm has filed an objection that opposes the retailer’s second amended joint plan of reorganization. Sycamore believes that liquidation is the best option.  

Express Inc. cut its annual profit forecast as the chain struggled with declining sales and weak store traffic in its second quarter.   The retailer reported net income of $10.1 million for the quarter ended July 30, short of Wall Street expectations, down from $21 million, in the year-ago period.   Revenue fell 6% to $504.8 million, also below Street forecasts. Same-store sales, which include online sales, fell 8%, which was worse than analysts expected.  

Kirkland’s reported a second-quarter loss that was larger than expected as it lowered its outlook for the year.   The home goods retailer lost $3.6 million in the quarter ended July 30, compared with a loss of $2.3 million in the year-ago period.   Net sales for the quarter increased 6.7% to $123.0 million. Same-store sales, including e-commerce sales, decreased 4.3%.