Christopher & Banks loss widens in Q2, to close 17 stores
Minneapolis — Christopher & Banks Corp. reported Thursday a net loss of $13 million for the quarter ended Aug. 27, compared with a loss of $2.5 million in the year-ago period.
Sales dropped to $96.2 million from $101.3 million, and same-store sales declined 8% during the quarter.
For the second half of fiscal 2012, the retailer said it plans to open approximately eight new stores and close approximately 17 existing stores.
Village Super Market Q4 adjusted profit rises
Springfield, N.J. — Village Super Market, which operates 28 supermarkets under the Shop Rite name in the Northeast, reported Thursday that net income for the fourth quarter was $8.8 million, an increase of 14% after backing out the extra week in last year’s fourth quarter.
Without the adjustment, net income fell from $8.9 million a year earlier.
Revenue rose nearly 1% to $345 million from $342.7 million. After excluding the extra week, revenue increased nearly 8%. Same-store sales rose nearly 8% excluding the extra week.
Retail, tech world mourn death of Steve Jobs
CUPERTINO, California —Steve Jobs, the man behind one of the most influential technology companies, passed away Wednesday.
"We are deeply saddened to announce that Steve Jobs passed away [Wednesday]," Apple’s board of directors announced in a statement. "Steve’s brilliance, passion and energy were the source of countless innovations thatenrich and improve all of our lives. The world is immeasurably better because of Steve."
Jobs, who suffered from pancreatic cancer, stepped down as CEO of Apple in January. In August, Tim Cook, the former COO who had been serving as acting CEO since Jobs’ departure, became CEO following Jobs resignation from the position. Since then, Jobs has been serving as chairman of the board.
Jobs’ impact on the retail industry was noted by the National Retail Federation.
"The National Retail Federation and the entire retail industry mourn news of the passing of Apple founder Steve Jobs, one of the most innovative leaders of our time who created an iconic retail brand through innovation and design,” said Matthew Shay, NRF president and CEO. “In a challenging economy, Jobs and the entire Apple team invented discretionary products that many Americans now consider necessities, from the iPod to the iPhone and the iPad. He leaves behind a legacy that will inspire retail companies for decades to come."