News

Deb Shops Boosts Income, Rex Stores Struggles

BY CSA STAFF

Philadelphia, Deb Shops Inc. reported preliminary fourth-quarter net income of $10.6 million, up 23.3% from the same quarter the year before. The improvement was supported by a 2.4% gain in sales to $82.6 million. For the year, Deb Shops posted a 39.8% gain in net income to $17.9 million and a 1.7% lift in net sales to $303.8 million.

In other earnings news, Dayton, Ohio-based consumer electronics retailer Rex Stores Corp. posted net income of $16.8 million in its recently completed fourth quarter, down 1.7% from the year before. Sales fell 4% to $125.4 million in the quarter, due in part to a 2% dip in same-store sales. For the year, the retailer’s income remained flat at $27.5 million. Sales declined 3.5% to $391.3 million on same-store sales shrinkage of 2%.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
News

Loblaw to Shutter Six DCs

BY CSA STAFF

Toronto, Loblaw announced that as part of the ongoing streamlining of its supply chain network, it will close six warehouse

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
News

$3.3 Million Bonus for Lundgren

BY CSA STAFF

Cincinnati, Federated Department Stores has given chief executive Terry J. Lundgren a $3.3 million bonus for his 2004 performance. His annual base compensation, not including stock options, is $1.3 million.

Federated’s board approved the bonus on Friday and it was reported in the company’s filing Tuesday with the Securities and Exchange Commission. The board also approved bonuses for 2004 ranging between $1 million and $1.3 million for five other Federated executives.

Lundgren, 52, became president of Federated in 1997, added the title of COO in 2002 and was appointed CEO in 2003.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...