Bon-Ton narrows loss
York, Pa. — Bon-Ton Stores narrowed its fiscal third-quarter loss narrowed partly on lower expenses.
For the period ended Oct. 27, Bon-Ton lost $10.1 million, compared with a loss of $22 million a year earlier.
Revenue rose 2% to $668.7 million from $656.1 million. Same-store sales rose 1.9%.
Sprouts Farmers Markets selects Manthan Systems for reporting and analytics
Phoenix — Manthan Systems announced that Sprouts Farmers Markets has selected Manthan’s ARC platform for enterprise-wide reporting and analytics. Currently operating 148 retail stores across eight states, Sprouts Farmers Markets has become synonymous with fresh produce, great prices and old-fashioned customer service.
Sprouts Farmers Market chose Manthan’s ARC applications as its business intelligence standard. Sprouts plans to use Manthan Systems’ dynamic analytical views and at-a-glance dashboards for greater insights into product sales, store operations, labor, task management, inventory optimization and merchandising. Manthan Systems’ self-training guided analytics and at-a-glance dashboards will provide actionable information, enabling Sprouts personnel to immediately see key business opportunities, easily identify trends, and greatly enhance the decision-making process.
“Manthan Systems’ proven experience in retail business analytics aligns with our vision of arming our team with role-based, mobile and easy to consume information. With their U.S.-led Global Operations and spirit of partnership, they were the perfect choice for us,” said Steve Black, chief information officer with Sprouts Farmers Market.”
Gap ups outlook on strong Q3
San Francisco — Gap Inc. raised its outlook for the year after reporting better-than-expected net income for the third quarter on growing sales. It was the latest sign that the long beleaguered chain may be finally entering a turnaround.
For the three months ended Oct. 27, the company said it earned $308 million, compared with $193 million in the year
For the quarter, net sales rose about 8%, to $3.86 billion, the company. Same-store sales rose 6% in North America. The metric increased 7% at Gap, 6% for Banana Republic and 9% for Old Navy.
Net sales for the online division rose by 23% to $509 million. International sales were up 7%.
"We are ready to compete and win this holiday season as we drive to build upon our top line growth," CEO Glenn Murphy said.