Reductions in sales, general and administrative (SG&A) expenses, as well as in operating expenses, helped Mattress Firm Holding Corp. increase net income 41% to $7.72 million from $5.48 million the same quarter the prior fiscal year.
Aided by reductions in areas such as interest expense, debt extinguishment and stock option modification, Burlington Stores Inc. more than doubled its net income to $25.69 million in the first quarter of fiscal 2015 from $11.77 million the same period a year earlier.
Net income at the Michaels Companies Inc. skyrocketed 47% to $67 million in the first quarter of fiscal 2015 compared to $45 million in the same quarter a year earlier. A large drop in interest expense helped fuel strong profit growth.
Destination XL Group Inc. shrunk its net loss to $574,000 in the first quarter of fiscal 2015, compared to $3.5 million the same quarter a year earlier. A shift to operating income from operating loss helped reduce total net loss.
American Eagle Outfitters on Wednesday reported first-quarter net income of $29.1 million, up from $3.9 million a year ago, amid higher sales and fewer promotions. It results beat Wall Street expectations.
Nordstrom Inc. missed Wall Street expectations with declining profit in the first quarter of fiscal 2015, although the department store retailer beat expectations for sales, aided by impressive e-commerce results.