FINANCE

Dillards reports net income, sales growth in Q3

BY Dan Berthiaume

Little Rock, Ark. – Dillard’s reported moderate growth in net income and sales during the third quarter of fiscal 2013. Compared to the same period a year earlier, net income increased 5% to $50.9 million from $48.5 million, while net sales climbed about 1% to $1.51 billion from $1.49 billion.

According to Dillard’s, sales trends were notably strong in ladies’ accessories and lingerie followed by shoes and ladies’ apparel, while sales were weakest in the home and furniture category. Sales trends were strongest in the central region, followed by the eastern and western regions, respectively.

During third quarter 2013, the company closed its Euclid Square Mall clearance location in Euclid, Ohio. Dillard’s also announced the upcoming closure of its University Mall location in Chapel Hill, N.C., and its Collin Creek location in Plano, Texas. Both locations are expected to close by the end of the fourth quarter.

On November 2, 2013, the company operated 282 Dillard’s locations and 17 clearance centers spanning 29 states and an Internet store.

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OPERATIONS

Rite Aid names healthcare exec to board

BY Dan Berthiaume

Camp Hill, Pa. – The Rite Aid board of directors has elected Kevin E. Lofton, president and CEO of Catholic Health Initiatives (CHI), to the Rite Aid board. CHI is a national health system, based in Englewood, Colo.

Lofton joined CHI in 1998 and has held several leadership positions, including chief operating officer, before being named president and CEO in 2003. Prior to joining CHI, Lofton served as the chief executive officer of the University of Alabama Hospital in Birmingham; as chief executive officer of Howard University Hospital, Washington, D.C.; and chief operating officer at University Medical Center, Jacksonville, Fla.

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OPERATIONS

Target expands Beauty Concierge program

BY Alaric Dearment

Minneapolis — Target has expanded its Beauty Concierge program to 95 stores in New York and New Jersey, the San Francisco Bay Area and Dallas-Fort Worth. Under the program, stores are staffed with a beauty concierge, a specially trained, brand-agnostic assistant who answers customers’ questions in the store and provides personalized, detailed and unbiased information about beauty and personal care products.

"We’re thrilled with the early success of the Beauty Concierge program and its expansion to more markets across the country," Target VP beauty and personal care Christina Hennington said. "This uniquely Target program helps guests receive the friendly, personalized guidance they want while purchasing trusted national brands and must-have exclusives at affordable prices."

The program was originally tested in the Chicago market last summer and subsequently launched at stores in Los Angeles, Washington, Baltimore, Minneapolis, Orange County, Calif., and northern Virginia. The program is now available in nearly 300 stores across the country.

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