The Fresh Market has tasty quarter
Greensboro, N.C. — The Fresh Market Inc. grew net income, same-store sales and net sales during first quarter 2013. Net income rose 14% to $22.1 million, from $19.3 million in the prior year.
Net sales jumped 13% to $366.6 million.
“We were pleased to see our business and customer traffic improve in the first quarter,” said Fresh Market president and CEO Craig Carlock. “New store development remains on track and our solid results give us confidence as we assess customer behavior and our outlook for the balance of the year.”
During the first quarter of fiscal 2013, the company opened two new stores in Charlottesville, Va., and Aiken, S.C. As of April 28, 2013, the company operated 131 stores in 25 states.
Brown Shoe feels impact of exiting brands
St. Louis — Brown Shoe Company Inc. reported a net loss and declining net sales in first quarter 2013 as the company cited the impact of having exited some businesses in the past year.
The retailer experienced a net loss of $10.8 million, compared to net earnings of $1.7 million a year earlier. Net sales declined about 1% to $588.7 million from $598.2 million.
However, Brown Shoe said that taking $10.4 million in net sales from exited brands during the first quarter of last year into account, net sales actually slightly improved this year.
“We saw improved consumer conversion related to our strategic real estate, inventory and omni-channel efforts,” said Diane Sullivan, president and CEO of Brown Shoe Company. “At wholesale, we refined our portfolio, with the recent sale of Avia and Nevados, and we intend to use the related proceeds in our 2013 debt reduction efforts.”
PriceGrabber: Father’s Day gets practical
Los Angeles – A survey from online shopping site PriceGrabber indicates U.S. consumers are leaning toward practical Father’s Day gifts this year. Almost four-in-10 (38%) consumers plan to purchase practical Father’s Day presents this year, such as tools, auto accessories or appliances.
Nearly one-fifth of respondents (18%) are planning to shop for a tech-type gift such as a computer, tablet or smartphone. Forty-five percent of men plan to buy a practical gift, compared to 33% of women.
Other findings indicate that more than half of respondents (55%) will spend less than $100 this year, while 23% will spend between $100 and $249, 12% will spend more than $250 and 10% do not have a budget. About six-in-10 consumers (59%) will purchase gifts online.