FINANCE

Buckle Q2 income up 8%

BY Marianne Wilson

Kearney, Neb. — The Buckle’s net income rose 8% in the second quarter on improved sales. The apparel retailer earned $25.1 million for the three months ended Aug. 3, compared to $23.2 million a year ago.

Revenue grew 8%, to $232.5 million from $215.5 million. Online sales rose 5.3%. Same-store increased 3.2%, short of analysts expectations.

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Harris Teeter selects Paydiant for mobile wallet

BY Marianne Wilson

Wellesley, Mass. — In a pilot at its Matthews, N.C. store, Harris Teeter, which was recently acquired by The Kroger Co., is using Paydiant’s white label mobile wallet solution as part of its Express Lane online shopping service in Matthews, N.C., beginning this month. The deployment allows the Express Lane customers to use the Harris Teeter mobile wallet called “HT Express Pay” to pay for groceries ordered online. Payment will occur from within a customer’s vehicle at Express Lane curbside pick-up locations.

Once the Harris Teeter mobile wallet app is downloaded to the customer’s iPhone or Android smartphone and payment cards are linked to the wallet, the customer will simply scan a QR code presented to them on a Verifone handheld mobile point of sale device. From there, the customer uses the mobile wallet to choose which of their major credit cards to use to complete the transaction, taps the “pay” button, and then a digital receipt is automatically sent to the customer’s mobile device.

Later this year, in an industry first for a large retailer, Harris Teeter will also accept other Paydiant-powered mobile wallets from banks and card-issuers in the HT Express Lane.

Upon the successful pilot and in subsequent phases of the deployment, the Paydiant mobile wallet platform will be incorporated into Harris Teeter’s existing consumer-facing mobile application, ht mobile.

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FINANCE

Stage Stores Q2 profit drops 18%

BY Marianne Wilson

Houston — Stage Stores Inc.’s second-quarter net income dropped 18% and the department store operator lowered its expectations for the year.

The retailer earned $9.6 million in the quarter that ended Aug. 3, compared to $11.7 million last year.

Revenue rose more than 3% to $395.3 million, missing Wall Street expectations.

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