Dick’s Sporting Goods Expects Store Growth
New York City, Dick’s Sporting Goods’ CFO Timothy Kullman announced at a Bank of America conference in San Francisco on Monday that the company expects its number of stores to rise by 15% annually, with the potential for 800 stores throughout the country. Kullman said that he expects growth in new, as well as existing, markets.
According to Kullman, Florida, Texas, California and Arizona have maximum long-term growth opportunities for the company. Dick’s also expects to keep up long-term annual earnings per-share growth of around 20%, Kullman said.
August sales up, but less than expected
August sales rose by 0.3%, less than expected and the biggest decline (0.4%) in almost a year, according to a government report. The numbers exclude automotive sales.
Retail sales excluding cars, parts and gasoline, fell 0.1%, the steepest decline since April. Core retail sales were unchanged in August after a 0.8% gain in July.
Purchases of motor vehicles and parts, which make up around one-fifth of all sales, rose 2.8%, the biggest rise since July of last year. Sales fell 2.4% at gas stations.
Clothing store sales slipped 0.1%, building materials and garden supply store sales fell 1%, and department store sales dropped 0.2%. Sales at food and beverage stores held steady.
AnnTaylor launches new high-end fashion line
NEW YORK AnnTaylor Stores Corp will roll out a high-end fashion line in 24 of its top stores next week. The line, called ‘Collection’, will be available on the company’s Web site in late September or early October, according to Maria Sceppaguercio, a spokeswoman for the company.
‘Collection’ is set to be 40% more expensive than the company’s usual merchandise, on average, and includes about 50 items, said Sceppaguercio.
AnnTaylor is also launching a line of beauty products and a new chain that will target baby boomers.