FINANCE

BJ’s, Others Report Earnings

BY CSA STAFF

Natick, Mass., BJ’s Wholesale Club Inc. recorded fourth-quarter net income of $49.2 million, down 4.5% from the year-ago period. The figure includes $7.2 million in one-time charges related to a change in the retailer’s lease accounting. Sales increased 7% to $2.01 billion, supported by a 3.4% increase in same-club sales. For the year, BJ’s posted net income of $114.4 million, up 11.2% from the year before. Sales rose 10.2% to $7.2 billion on the strength of a 6% rise in same-club sales.

In other earnings news:

• Payless ShoeSource Inc. reported a net loss of $26.5 million in the fourth quarter of its 2004 fiscal year, compared with a net loss of $17.2 million in the same quarter the year before. The loss includes restructuring charges of $23.9 million before taxes. Sales fell 1.7% to $617.7 million in the quarter and same-store sales dipped 2.3%. For the full year, the footwear retailer posted a net loss of $2 million, vs. a $100,000 loss the year before. This year’s net loss includes $67.9 million in pre-tax restructuring charges. Sales were flat at $2.66 billion despite a 0.5% decline in same-store sales.

• United Retail Group posted fourth-quarter net income of $697,000, vs. a $4 million loss in the same quarter from the previous year. Net sales rose 6.4% to $107.9 million on the strength of 8% comps growth. For the full year, the retailer narrowed its loss to $10.5 million from $19.1 million the year before. Sales increased 0.8% to $399.3 million on same-store sales growth of 2%.

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E.Ako says:
Mar-21-2013 02:32 pm

It is stated the sales is
It is stated the sales is high and increasing. While the company is increasing its profit, its competitor is experiencing a loss. - JustFab

E.Ako says:
Mar-21-2013 02:32 pm

It is stated the sales is high and increasing. While the company is increasing its profit, its competitor is experiencing a loss. - JustFab

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Pantry Buys Southern C-Store Chain

BY CSA STAFF

Sanford, N.C., The Pantry Inc. will acquire Rome, Ga.-based D&D Oil Co., which operates 53 c-stores under the Cowboys banner. D&D does business in Georgia, Alabama and Mississippi, selling gas under the BP and Cowboys brand names. The deal also includes two additional stores that are under construction, and the development rights to seven potential store sites.

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CFO Tudor Resigns From Ingles Markets

BY CSA STAFF

Asheville, N.C., Ingles Markets Inc. today announced the resignation of Brenda S. Tudor, CFO and VP of finance, effective March 18. Ingles has begun to hunt for a new CFO, though Tudor will stay on part-time until a replacement is chosen. Tudor served 20 years with Ingles, eight of which she spent as CFO. She will not run for re-election for the board of the supermarket chain.

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