Higher selling, general and administrative (SG&A) expenses, including asset impairment charges primarily related to lower-than-expected operating performance at the struggling Justice banner, cut into profits at Ascena Retail Group Inc. during the second quarter of fiscal 2015.
Activist investor Starboard Value LP, which holds a 4.5% ownership stake in Staples Inc., is telling Staples it needs to improve its board of directors to complete a proposed acquisition of Office Depot.
The impact of two replacement stores and a same-store sales increase of 2.5% helped boost net income at Village Super Market Inc. 146% to $6.6 million in the second quarter of fiscal 2015, from $2.8 million in the same quarter a year earlier.
Target Corp. plans to cut “several thousand” jobs, mainly at headquarters, during the next two years and invest $1 billion in technology and supply chain in 2015 as part of an ambitious and wide-reaching plan to transform its business for a digital age. (Target expects to invest between $2 and $2.2 billion in total capital expenditures in 2015.)
Strong omnichannel performance, as well as successful marketing and merchandising execution, helped Dick’s Sporting Goods Inc. deliver fourth quarter fiscal 2014 net income beyond previously issued guidance.
Strong sales of high-margin consumer electronics and TVs during the holiday season, as well as declining expenses, helped Best Buy Inc. beat Wall Street expectations for profit in the fourth quarter of fiscal 2015.