Container Store Q3 net income slightly drops
Coppell, Texas – The Container Store Group Inc. saw its net income drop about 2%, to $5.2 million from $5.3 million, during the third quarter of fiscal 2013. This occurred while net sales grew 7.3%, to $188.3 million from $175.4 million, and same-store sales increased 4.7%.
An 8.7% in selling, general and administrative expenses, primarily due to increases in expenses incurred in preparation for the company’s IPO, expenses associated with operating as a public company and a timing shift in direct mail expenses. Net interest expense also increased compared to the same quarter in the prior year.
“We are pleased with our operating results in the third quarter,” said Kip Tindell, chairman and CEO of The Container Store. “Our net sales increase of 7.3% was fueled by our retail business at The Container Store, where sales increased 10.8%. We saw strong performance across new and existing stores as comparable store sales increased 4.7%; our fourteenth consecutive quarter of comparable store sales increases. These results demonstrate the strength of our differentiated business model, brand awareness, unique employee-first culture and solid execution by the entire team at The Container Store.”
Havertys reports higher sales for Q4
Atlanta – Havertys reported partial financial results for the fourth quarter and fiscal year 2013, with sales for the fourth quarter increasing 7.6% to $196.2 million, compared with $182.3 million for the fourth quarter of 2012. On a same-store basis, sales for the quarter increased 9.5%.
Sales for the 12 months of 2013 totaled $746.1 million, compared with $670.1 million in 2012, representing an increase of 11.3%. On a same-store basis, sales increased 11% for the 12 months.
Tractor Supply expands Revionics partnership
Brentwood, Tenn. — Tractor Supply Company is renewing its Revionics Price Optimization license for three years and expanding the partnership to include the use of Revionics Markdown Optimization. Tractor Supply has used Revionics Price Optimization for regular price management and optimization during the past three years to drive regionalized, shopper-centric everyday value pricing.
Deploying Revionics Markdown Optimization will enable Tractor Supply to localize markdowns to profitably adjust in-season and at the end-of-season to customer preferences and inventory levels.
“Use of Revionics’ solution has improved our ability to offer the right price at the right time to our customers while maintaining our profitability and competitive position,” said Alex Stanton, senior VP of supply chain for Tractor Supply. “By leveraging both price and markdown optimization software, we will continue to deliver value to our customers while enhancing our ability to match our price and markdown strategies to customer demand.”