Big Lots says harsh winter weather hurt traffic counts and revenue, but the closeout retailer still posted increases in same-store sales for the fourth quarter.
\r\n\tBig Lots reported income from continuing operations of $94.7 million, or $1.91 per diluted share, for the fourth quarter ended Jan. 30. Revenue dropped to $1.58 billion from $1.59 billion for the same quarter last year. Same-store sales increased 0.7%.It was the eighth consecutive quarter in which Big Lots has posted positive same-store sales.
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\r\nThe company says the strategic review process will be comprehensive and will include a fresh look at several of CST's previously announced strategic initiatives and plans.
","showSummary":null,"url":"/news/cst-brands-puts-itself-sale","date":"2016-03-04T00:00:00","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":57016,"url":"https://assets1.chainstoreage.com/styles/secondary_articles_short/s3/teaser_image_39781.jpg?itok=P4tnbgYl","width":767,"height":575,"alt":null},"topics":[{"name":"News","url":"/news"},{"name":"FINANCE","url":"/finance"}],"attachedFiles":[]},{"title":"Burlington Stores keeps hot streak going","id":54407,"bundle":"article","summary":"Burlington Stores attracted large numbers of shoppers over the holiday season, as the off-price retailer reported a jump in sales and profit for the fourth quarter.
\r\n\tFor the fourth quarter ended Jan. 30, the company said adjusted net income per share rose 26% to $2.31 vs. $1.83 in the prior year quarter.Revenue increased 3.5% to $1.55 billion. Same-store sales increased 2.1%.
","showSummary":null,"url":"/news/burlington-stores-keeps-hot-streak-going","date":"2016-03-03T00:00:00","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":56935,"url":"https://assets1.chainstoreage.com/styles/secondary_articles_short/s3/teaser_image_39751.jpg?itok=hmMdmFab","width":767,"height":575,"alt":null},"topics":[{"name":"News","url":"/news"},{"name":"FINANCE","url":"/finance"}],"attachedFiles":[]},{"title":"Rite Aid posts year-end sales lift of 1.3%","id":54393,"bundle":"article","summary":"Rite Aid on Thursday announced February sales results of its retail pharmacy segment. For the five weeks ended Feb. 27, total drugstore sales for the five-week period increased 0.1% with sales of $2.6 billion. Prescription sales accounted for 69.4% of drug store sales, and third-party prescription sales represented 98% of pharmacy sales.
","showSummary":null,"url":"/news/rite-aid-posts-year-end-sales-lift-1","date":"2016-03-03T00:00:00","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":56974,"url":"https://assets1.chainstoreage.com/styles/secondary_articles_short/s3/teaser_image_39765.jpg?itok=g6j0Ez4q","width":767,"height":575,"alt":null},"topics":[{"name":"News","url":"/news"},{"name":"FINANCE","url":"/finance"}],"attachedFiles":[]},{"title":"Costco prevails during holidays","id":54408,"bundle":"article","summary":"Costco’s profit fell short of analysts’ estimates at the mid-point in its fiscal year, but business trends were solid in the company’s second quarter with a 4% same store sales increase at U.S. locations.
\r\n\tThe company said its total revenues for the period ended Feb. 14, which included the holidays, increased 2.6% to $28.2 billion. Merchandise and service sales increased 2.6% to $27.9 billion and membership fees increased 3.6% to $603 million.
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Teen apparel retailer hires financial advisors
Pacific Sunwear of California has hired financial advisors to help deal with its maturing debt, according to The Wall Street Journal.
In 2011, PacSun received a $100 million credit line from Wells Fargo and a $60 million loan from an affiliate of Golden Gate Capital. Both loans will be due in December, the report said.
Similar to other teen retailers, PacSun has been dealing with increased online competition and a shift in teen spending. The company has had three consecutive quarters of declining sales and negative same-store sales.
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Pier 1 Imports sales better than expected
Customers responded favorably to holiday promotions at Pier 1 during the fourth quarter and the retailer is poised for an even better spring now that it plans a return to TV advertising.