\r\n\t \r\n\tNet income slipped 1% to $12.9 million from $13.1 million in the same quarter the previous fiscal year. Outlet- and IT-related expense growth helped drive down profit. \r\n\t \r\n\tNet sales stayed essentially flat at $502.9 million, compared to $502.4 million a year earlier. Same-store sales fell 3%, including a 1% dip in e-commerce sales. \r\n\t \r","showSummary":null,"url":"/news/express-misses-q1-earnings-sales","date":"2016-05-25T00:00:00","author":{"email":null,"uname":"Anonymous","firstName":null,"lastName":null,"bio":null,"title":null,"picture":null,"phone":null,"contactForm":null},"digitalEdition":null,"sponsored":false,"taggedPro":null,"teaserImage":{"id":59515,"url":"https://assets1.chainstoreage.com/styles/secondary_articles_short/s3/teaser_image_40732.jpg?itok=lw-xhwb3","width":767,"height":575,"alt":null},"topics":[{"name":"News","url":"/news"},{"name":"FINANCE","url":"/finance"}],"attachedFiles":[]},{"title":"Chico’s names retail veteran as new corporate counsel","id":53454,"bundle":"article","summary":"
Chico's FAS Inc. has appointed Susan Lanigan as executive VP and general counsel. \r\n\t \r\n\tLanigan has 25 years of professional experience and more than 15 years of business experience in the retail industry, including serving as executive VP, general counsel of Dollar General Corp. \r\n\t \r","showSummary":null,"url":"/news/chicos-names-retail-veteran-new-corporate-counsel","date":"2016-05-25T00:00:00","author":{"email":null,"uname":"Anonymous","firstName":null,"lastName":null,"bio":null,"title":null,"picture":null,"phone":null,"contactForm":null},"digitalEdition":null,"sponsored":false,"taggedPro":null,"teaserImage":{"id":59514,"url":"https://assets1.chainstoreage.com/styles/secondary_articles_short/s3/teaser_image_40731.jpg?itok=xcs0wh-g","width":767,"height":575,"alt":null},"topics":[{"name":"News","url":"/news"},{"name":"FINANCE","url":"/finance"}],"attachedFiles":[]},{"title":"Uniqlo focuses on U.S. store performance","id":53456,"bundle":"article","summary":"
Japanese specialty retailer Uniqlo has been losing money with its U.S. stores for the past five years, but is not ready to throw in the towel. \r\n\t \r\n\tAccording to Reuters, Uniqlo parent Fast Retailing Co. Ltd. is making a U.S. turnaround a top priority. \r\n\t \r\n\tClick here for more.
\r\n","showSummary":null,"url":"/news/uniqlo-focuses-us-store-performance","date":"2016-05-25T00:00:00","author":{"email":null,"uname":"Anonymous","firstName":null,"lastName":null,"bio":null,"title":null,"picture":null,"phone":null,"contactForm":null},"digitalEdition":null,"sponsored":false,"taggedPro":null,"teaserImage":{"id":59512,"url":"https://assets1.chainstoreage.com/styles/secondary_articles_short/s3/teaser_image_40729.jpg?itok=uzoTS0tA","width":767,"height":575,"alt":null},"topics":[{"name":"News","url":"/news"},{"name":"FINANCE","url":"/finance"}],"attachedFiles":[]},{"title":"DSW profit, sales miss in tough Q1","id":53482,"bundle":"article","summary":"
Despite improved net sales, DSW Inc. saw net earnings decline substantially during the first quarter of fiscal 2017. \r\n\t \r\n\tThe footwear retailer reported net income of $30.01 million, down 37% from $47.37 million in the prior year quarter. Growing cost of sales and operating expenses, as well as a pretax expense from the February purchase of online footwear retailer Ebuys Inc., cut into profit even as net sales rose 4% to $681.27 million, from $655.47 million. Ebuys contributed $15.1 million in net sales. \r\n\t \r","showSummary":null,"url":"/news/dsw-profit-sales-miss-tough-q1","date":"2016-05-24T00:00:00","author":{"email":null,"uname":"Anonymous","firstName":null,"lastName":null,"bio":null,"title":null,"picture":null,"phone":null,"contactForm":null},"digitalEdition":null,"sponsored":false,"taggedPro":null,"teaserImage":{"id":59487,"url":"https://assets1.chainstoreage.com/styles/secondary_articles_short/s3/teaser_image_40703.jpg?itok=fVVEMr4-","width":767,"height":575,"alt":null},"topics":[{"name":"News","url":"/news"},{"name":"FINANCE","url":"/finance"}],"attachedFiles":[]},{"title":"Holland a perfect fit as ICSC chair","id":53470,"bundle":"article","summary":"
Members of the International Council of Shopping Centers (ICSC) elected Elizabeth Holland as chairman, marking only the fourth time in the past 59 years a woman has chaired the organization. \r\n\t \r\n\tHolland brings a unique skill set to the role given ICSC’s top legislative priority and the upcoming presidential election. The period following the inauguration of a new president is always a critical time in Washington, heralding what is traditionally the most active time in the legislative cycle, according to ICSC. \r\n\t \r","showSummary":null,"url":"/real-estate/holland-perfect-fit-icsc-chair","date":"2016-05-24T00:00:00","author":{"email":null,"uname":"Anonymous","firstName":null,"lastName":null,"bio":null,"title":null,"picture":null,"phone":null,"contactForm":null},"digitalEdition":null,"sponsored":false,"taggedPro":null,"teaserImage":{"id":59499,"url":"https://assets1.chainstoreage.com/styles/secondary_articles_short/s3/teaser_image_40715.jpg?itok=HMhCSeVr","width":767,"height":575,"alt":null},"topics":[{"name":"REAL ESTATE","url":"/real-estate"},{"name":"FINANCE","url":"/finance"},{"name":"C-SUITE","url":"/c-suite"}],"attachedFiles":[]},{"title":"Expenses hit Kirkland’s Q1 profit as sales miss","id":53478,"bundle":"article","summary":"
Increases in cost of sales, operating expenses and depreciation resulted in net income dropping at Kirkland’s Inc. during a generally disappointing first quarter of fiscal 2016. \r\n\t \r\n\tThe specialty home décor chain’s net income totaled $916 million, down 64% from $2.53 billion in the first quarter of the previous fiscal year. Net sales rose 10% to $129.91 million from $118.31 million, below expectations. Same-store sales edged up 0.5%. \r\n\t \r","showSummary":null,"url":"/news/expenses-hit-kirklands-q1-profit-sales-miss","date":"2016-05-24T00:00:00","author":{"email":null,"uname":"Anonymous","firstName":null,"lastName":null,"bio":null,"title":null,"picture":null,"phone":null,"contactForm":null},"digitalEdition":null,"sponsored":false,"taggedPro":null,"teaserImage":{"id":59491,"url":"https://assets1.chainstoreage.com/styles/secondary_articles_short/s3/teaser_image_40707.jpg?itok=oV7FWccF","width":767,"height":575,"alt":null},"topics":[{"name":"News","url":"/news"},{"name":"FINANCE","url":"/finance"}],"attachedFiles":[]},{"title":"Zimmer wants another shot at Men’s Wearhouse","id":53466,"bundle":"article","summary":"
Men’s Wearhouse may not have seen the last of original co-founder George Zimmer. \r\n\t \r\n\tIn an interview with Inc., Zimmer discusses conversations he has had about a possible acquisition attempt with private equity firms. \r\n\t \r\n\tClick here for more.
\r\n","showSummary":null,"url":"/news/zimmer-wants-another-shot-mens-wearhouse","date":"2016-05-24T00:00:00","author":{"email":null,"uname":"Anonymous","firstName":null,"lastName":null,"bio":null,"title":null,"picture":null,"phone":null,"contactForm":null},"digitalEdition":null,"sponsored":false,"taggedPro":null,"teaserImage":{"id":59503,"url":"https://assets1.chainstoreage.com/styles/secondary_articles_short/s3/teaser_image_40719.jpg?itok=Beru-CXp","width":767,"height":575,"alt":null},"topics":[{"name":"News","url":"/news"},{"name":"FINANCE","url":"/finance"}],"attachedFiles":[]},{"title":"Best Buy Q1 profit surges; finance chief to exit","id":53479,"bundle":"article","summary":"
Best Buy Co. Inc. surpassed Wall Street expectations with rising profits and declining revenues for the first quarter of fiscal 2017, and CFO/CAO Sharon McCollam announced she will retire June 14. \r\n\t \r","showSummary":null,"url":"/news/best-buy-q1-profit-surges-finance-chief-exit","date":"2016-05-24T00:00:00","author":{"email":null,"uname":"Anonymous","firstName":null,"lastName":null,"bio":null,"title":null,"picture":null,"phone":null,"contactForm":null},"digitalEdition":null,"sponsored":false,"taggedPro":null,"teaserImage":{"id":59490,"url":"https://assets1.chainstoreage.com/styles/secondary_articles_short/s3/teaser_image_40706.jpg?itok=3SdsMoPr","width":767,"height":575,"alt":null},"topics":[{"name":"News","url":"/news"},{"name":"FINANCE","url":"/finance"},{"name":"C-SUITE","url":"/c-suite"}],"attachedFiles":[]},{"title":"AutoZone motors ahead, comps soften","id":53467,"bundle":"article","summary":"
The nation’s leading auto parts retailer produced modest sales and profit growth during its third quarter but managed to achieve double digit earnings per share growth thanks to stock buyback activity. \r\n\t \r\n\tAutoZone sales increased 4% to $2.6 billion during the quarter ended May 7, thanks to the addition of new stores and a 2% same-store sales increase. Net income increased 6% to $327.5 million, while earning per share increased 12.6% to $10.77 as the company spent $533 million to repurchase 687,000 shares. \r\n\t \r","showSummary":null,"url":"/news/autozone-motors-ahead-comps-soften","date":"2016-05-24T00:00:00","author":{"email":null,"uname":"Anonymous","firstName":null,"lastName":null,"bio":null,"title":null,"picture":null,"phone":null,"contactForm":null},"digitalEdition":null,"sponsored":false,"taggedPro":null,"teaserImage":{"id":59502,"url":"https://assets1.chainstoreage.com/styles/secondary_articles_short/s3/teaser_image_40718.jpg?itok=KM_OUjio","width":767,"height":575,"alt":null},"topics":[{"name":"News","url":"/news"},{"name":"FINANCE","url":"/finance"}],"attachedFiles":[]},{"title":"Supervalu lays financial groundwork for Save-A-Lot spinoff","id":53494,"bundle":"article","summary":"
Grocery giant Supervalu Inc. is one step closer to separating its troubled Save-A-Lot banner. \r\n\t \r\n\tSupevalu, which initially announced it was exploring spinning off Save-A-Lot into a standalone, publicly traded company in July 2015, has completed the amendment of an existing $1.5 billion senior secured term loan agreement. This amendment permits the company and its subsidiaries to undertake certain transactions deemed necessary to enable a spinoff of Save-A-Lot. \r\n\t \r","showSummary":null,"url":"/news/supervalu-lays-financial-groundwork-save-lot-spinoff","date":"2016-05-23T00:00:00","author":{"email":null,"uname":"Anonymous","firstName":null,"lastName":null,"bio":null,"title":null,"picture":null,"phone":null,"contactForm":null},"digitalEdition":null,"sponsored":false,"taggedPro":null,"teaserImage":{"id":59463,"url":"https://assets1.chainstoreage.com/styles/secondary_articles_short/s3/teaser_image_40691.jpg?itok=t5EnssuR","width":767,"height":575,"alt":null},"topics":[{"name":"News","url":"/news"},{"name":"FINANCE","url":"/finance"}],"attachedFiles":[]}]},"title":"FINANCE","contentParagraphs":null,"sections":null};
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Despite improved net sales, DSW Inc. saw net earnings decline substantially during the first quarter of fiscal 2017.
The footwear retailer reported net income of $30.01 million, down 37% from $47.37 million in the prior year quarter. Growing cost of sales and operating expenses, as well as a pretax expense from the February purchase of online footwear retailer Ebuys Inc., cut into profit even as net sales rose 4% to $681.27 million, from $655.47 million. Ebuys contributed $15.1 million in net sales.
Members of the International Council of Shopping Centers (ICSC) elected Elizabeth Holland as chairman, marking only the fourth time in the past 59 years a woman has chaired the organization.
Holland brings a unique skill set to the role given ICSC’s top legislative priority and the upcoming presidential election. The period following the inauguration of a new president is always a critical time in Washington, heralding what is traditionally the most active time in the legislative cycle, according to ICSC.
Increases in cost of sales, operating expenses and depreciation resulted in net income dropping at Kirkland’s Inc. during a generally disappointing first quarter of fiscal 2016.
The specialty home décor chain’s net income totaled $916 million, down 64% from $2.53 billion in the first quarter of the previous fiscal year. Net sales rose 10% to $129.91 million from $118.31 million, below expectations. Same-store sales edged up 0.5%.
Best Buy Co. Inc. surpassed Wall Street expectations with rising profits and declining revenues for the first quarter of fiscal 2017, and CFO/CAO Sharon McCollam announced she will retire June 14.
The nation’s leading auto parts retailer produced modest sales and profit growth during its third quarter but managed to achieve double digit earnings per share growth thanks to stock buyback activity.
AutoZone sales increased 4% to $2.6 billion during the quarter ended May 7, thanks to the addition of new stores and a 2% same-store sales increase. Net income increased 6% to $327.5 million, while earning per share increased 12.6% to $10.77 as the company spent $533 million to repurchase 687,000 shares.
Grocery giant Supervalu Inc. is one step closer to separating its troubled Save-A-Lot banner.
Supevalu, which initially announced it was exploring spinning off Save-A-Lot into a standalone, publicly traded company in July 2015, has completed the amendment of an existing $1.5 billion senior secured term loan agreement. This amendment permits the company and its subsidiaries to undertake certain transactions deemed necessary to enable a spinoff of Save-A-Lot.