Citi Trends narrowed loss in Q2 but missed Street
Savannah, Ga. — Despite narrowing its loss in the second quarter from $10 million to $7.9 million this quarter, Citi Trends still missed Wall Street expectations.
Revenue edged up 2% to $132.3 million, which also missed analysts’ forecast. Wall Street expected sales of $133.9 million.
Same-store sales slipped 4%.
Spanx to launch first brick-and-mortar stores
New York – A report by Women’s Wear Daily said that shapewear brand Spanx will launch a retail presence, with four store openings in the coming months.
Expanding its online and department-store presence, Spanx will open three standalone branded stores in October, according to WWD, located in Tysons Corner Center in McLean, Va.; Garden State Plaza in Paramus, N.J.; and King of Prussia Mall in Philadelphia. A fourth store is slated to open at Atlanta’s Hartsfield-Jackson airport.
Curacao teams with Kronos for workforce management
Chelmsford, Mass. — Kronos Inc. said Wednesday that Hispanic department store chain Curacao is using a comprehensive workforce management solution from Kronos to control labor costs and improve customer satisfaction.
Curacao’s previous manual and dispersed workforce management solutions have been automated and standardized with the Kronos time and attendance, forecasting and scheduling, and HR applications from Kronos. The new system also integrates seamlessly with the retailer’s enterprise-wide payroll system.
Previously, Curacao lacked the ability to accurately align labor to demand and incurred expenses from over scheduling. With the new system, Curacao has increased profitability through accurate schedules based on forecasts accounting for seasonal and weekly variations, events, and current trends.
"Kronos helps us control costs and improve profitability, which are important for any retailer, and especially for a growing one like Curacao,” said Noel Hernandez, area VP retail, Curacao. “As we are looking to expand, Kronos also gives us the peace of mind that no matter where we choose to go, our growing workforce will be managed effectively without added administrative burdens."
By using Kronos time clocks with biometric technology, Curacao has eliminated buddy punching, the costly act of employees punching in for one another. Kronos has also helped Curacao minimize compliance risk with federal, state, and other labor laws and regulations. As Curacao operates primarily in California, it must comply with complex California meal and break rules, and Kronos manages this through complete automation of pay policies.
As well, Curacao said it plans to expand to more than double its current size and Kronos will help it effectively manage its growing workforce through advanced integration and scalability capabilities.