Dick’s Connects With AT&T
Pittsburgh, Dick’s Sporting Goods will install an Internet Protocol Virtual Private Network (IP VIN) designed to integrate all retail stores, corporate offices and distribution centers. The system will be provided by AT&T. “Knowing that our data is secure enables us to focus on our core mission,” said Linda Walker, VP of infrastructure and security for Dick’s. Dick’s has 239 locations and had sales of $2.1 billion in 2004.
Michaels 2Q Profit Jumps
Irving, Texas, Michaels Stores Inc. posted a 15% gain in second-quarter profit. Net income rose to $30.8 million, or 22? a share, from $26.7 million, or 19? a share, a year ago. Sales rose 9% to $745.5 million from $682.9 million a year ago.
Same-store sales increased 4.2% in the quarter, driven by a 2.4% rise in the average ticket and a 1.4% gain in transactions. The best-selling departments were jewelry and beading, paper-crafting, foam and yarn.
The Finish Line Lowers 2Q Earnings Guidance
Indianapolis, The Finish Line Inc. reported net sales of $341.6 million in the second quarter, up 9% year-over-year, despite a 2% dip in same-store sales. The retailer also lowered its guidance on second-quarter diluted earnings to the range of 37?-to-39? per share. The retailer had previously projected the figure would come in between 48? and 50? per share.