FINANCE

Finish Line Q4 profit down

BY Marianne Wilson

Indianapolis — The Finish Line said its fourth-quarter profit dropped 18% as gross margins fell and overall sales declined more than analysts expected. The chain’s adjusted earnings and same-store sales growth, however, were in-line with its expectations.

For the fourth quarter ended March 2, Finish Line reported net income of $34.3 million, down from $41.9 million a year earlier.

Consolidated net sales were down 3% to $442.7 million. Same-store sales increased 0.7%. Digital sales, which are included in the comparable store sales results, were up 21.0%.

"While our fourth quarter performance was in-line with expectations, it was a challenging second half of the year for us," commented Glenn Lyon, chairman and CEO. "We experienced weakness in our running business at Finish Line and adjusted our operating platform and expenses to meet those market dynamics. Moving forward, we remain committed to our growth strategies and the investments required for our Finish Line, Macy’s and The Running Company businesses to drive long-term shareholder value.”

Next month, Finish Line will begin to open in-store shops at Macy’s, for a total of 450 Macy’s stores during the next two years.

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L.Jandayan says:
Mar-28-2013 11:41 pm

It is not all the time that
It is not all the time that businesses are going up. There will come a time that the profit will go down based on how the management handle issues. - J. Kale Flagg

L.Jandayan says:
Mar-28-2013 11:41 pm

It is not all the time that businesses are going up. There will come a time that the profit will go down based on how the management handle issues. - J. Kale Flagg

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REAL ESTATE

Destination Maternity superstore format in Canadian debut

BY Staff Writer

Philadelphia — Destination Maternity Corp. on Thursday opened the first Destination Maternity superstore location in Canada. The 5,000-sq.-ft. store is in Langley, a suburb of Vancouver, B.C.

Along with maternity apparel from Destination Maternity’s namesake and A Pea in the Pod, brands and a wide range of accessories and nursing apparel, the superstore features a relaxation area for family members and friends complete with plush chairs and a flat screen TV; a juice bar; play area for children and a learning studio. The learning studio will partner with Fit 4 Two, a local provider of pre and postnatal fitness classes, and offer weekly and monthly fitness classes and workshops especially for expecting and new moms.

With this opening, Destination Maternity will have a total of 34 retail stores operating throughout Canada.

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S.Gacho says:
Mar-30-2013 01:21 am

Maternity is one of the best
Maternity is one of the best establishment that needs to be progressive. I think this is due to a lot of women giving birth everyday. - Rich Von

S.Gacho says:
Mar-30-2013 01:21 am

Maternity is one of the best establishment that needs to be progressive. I think this is due to a lot of women giving birth everyday. - Rich Von

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FINANCE

Fred’s Q4 profits down; to accelerate pharmacy expansion

BY Staff Writer

Memphis — Fred’s Inc. said Thursday that its fourth-quarter net income decreased 33% amid higher operating costs and restrained consumer spending. The discounter’s forecast for this year also fell below analyst expectations.

Net income for the three months ended Feb. 2 fell to $6.6 million, compared to $9.8 million the year before.

Revenue increased 7%, to $533.4 million, also below analysts’ expectations. Same-store sales were up 4.8%.

For the year, profit was down 11% to $29.6 million. Revenue increased 4% to $1.96 billion.

On a conference call with analysts, CEO said Bruce A. Efird said Fred’s plans to aggressively accelerate its pharmacy presence. The chain plans to remodel between 15 and 20 stores each year, adding a pharmacy operation. All new store openings — between 25 and 30 each year — will include a pharmacy operation.

Currently, Fred’s operates 712 discount general merchandise stores, including 21 franchised Fred’s stores. Within those stores are 346 pharmacies. Fred’s may open as many as 30 new pharmacies through fiscal 2013.

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S.Gacho says:
Mar-30-2013 01:22 am

When we study that our
When we study that our profits from our business is getting low it needs a lot of things to analyzed. Think of what is the branch that needs help. - Rich Von

S.Gacho says:
Mar-30-2013 01:22 am

When we study that our profits from our business is getting low it needs a lot of things to analyzed. Think of what is the branch that needs help. - Rich Von

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Consumer confidence is high. Is that reflected in your stores’ revenues?

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