Destination Maternity Q3 earnings rise 23%
Philadelphia — Destination Maternity Corp. announced that its net income for the third quarter of fiscal 2013 was $8.6 million, an increase of 24% compared to net income of $6.9 million for the third quarter of fiscal 2012.
Net sales for the third quarter of fiscal 2013 increased 2.2% to $141.9 million from $138.8 million a year ago. Same-store increased 4.9%.
Cabela’s announces plans for four new stores; Q2 profit up 31%
Sidney, Neb. — Cabela’s Inc. on Thursday announced it will open four new markets in 2014: Acworth, Ga., Augusta, Ga.; Missoula, Mont.; and Barrie, Ontario (Canada). The outdoor goods retailer also reported that its second-quarter net income surged 31% on a 10.5% rise in same-store sales.
The two stores in Georgia will mark Cabela’s entry into the state. In Aceworth, Ga., Cabela’s plans to open a 100,000-sq.-ft. store, with construction scheduled to begin this fall for a fall 2014 opening. Majestic Realty is developing the shopping center.
The store will be built in Cabela’s next-generation layout, designed to surround customers in an outdoor-like experience with museum-quality wildlife displays.
In Augusta, Ga., the chain plans to open its smaller-format Cabela’s Outpost format. The 42,000-sq.-ft. store is scheduled to open in spring 2014. It will be in the Village at Riverwatch development. MGHerring is managing the development.
The Augusta location will feature a Core-Flex floor plan allowing products to be rotated seasonally, as well as a rugged outdoor look and feel.
Construction on Cabela’s Missoula, Mont., location, also a Cabela’s Outpost store, is scheduled to begin this fall. The company anticipates a summer 2014 opening. It will be Cabela’s third Montana store, joining the Billings location opened in 2009 and a Kalispell location scheduled to open this fall.
Construction on the 70,000-sq.-ft. Cabela’s store in Barrie, Ont., is scheduled to begin this summer and Cabela’s anticipates a summer 2014 opening. The store will be built in Cabela’s next-generation layout designed to surround customers in the outdoor experience.
For the three months ended June 29, Cabela’s earned $44.6 million, just beating Wall Street’s prediction, compared to $33.9 million in the year-ago period.
Revenue rose 21% to $756.8 million from $627.3 million.
Currently, Cabela’s operates 45 stores across North America with plans to open an additional 19 over the next two years.
Vitacost.com makes merchandising move
BOCA RATON, Fla. — Vitacost.com, a leading online retailer of health and wellness products, has appointed Chris Cavalline to the newly created position of CMO.
Cavalline is a 25-year retail industry veteran, and was most recently SVP of merchandising and e-commerce at Kohl’s Department Stores. Previously, Cavalline held senior leadership positions at Macy’s, Inc. and May department stores. He earned a B.S. in physics and civil engineering from Washington and Lee University.
"We are excited to have Chris lead our merchandising team and believe he will play a key role in positioning Vitacost as the largest on-line provider of health and wellness products in the market today," stated Jeffrey Horowitz, CEO. "Expanding our offerings to consumers is one of the key objectives of our long-term growth strategy and we believe Chris’s expertise in product selection and assortment, cultivating new vendor relationships, and developing creative online promotions and campaigns will help enable us to achieve our goals. In addition, Chris will work closely with our in-house product development group as we remain focused on accelerating proprietary product growth."
"I look forward to working with the entire team to help further drive the business as Vitacost continues to expand its online health and wellness leadership position," added Cavalline.
Vitacost.com sells dietary supplements such as vitamins, minerals, herbs and other botanicals, amino acids and metabolites, as well as cosmetics, organic body and personal care products, pet products, sports nutrition and health foods directly to consumers through its website.