GameStop to close 200 stores
New York — GameStop plans to close 200 stores by next year, Bloomberg reported.
The closings were announced on a conference call, shortly after the chain reported better-than expected third-quarter results, excluding an impairment charge.
For the third quarter ended Oct. 27, GameStop posted a net loss of $624.3 million after impairment and goodwill costs of $678.8 million, mostly tied to international operations. That’s compared with net income of $53.9 million a year earlier.
Sales fell 8.9% to $1.77 billion.
GameStop also said it added $500 million to its stock repurchase authorization. The company has $242 million remaining on its previous stock buyback program.
Bon-Ton narrows loss
York, Pa. — Bon-Ton Stores narrowed its fiscal third-quarter loss narrowed partly on lower expenses.
For the period ended Oct. 27, Bon-Ton lost $10.1 million, compared with a loss of $22 million a year earlier.
Revenue rose 2% to $668.7 million from $656.1 million. Same-store sales rose 1.9%.
Sprouts Farmers Markets selects Manthan Systems for reporting and analytics
Phoenix — Manthan Systems announced that Sprouts Farmers Markets has selected Manthan’s ARC platform for enterprise-wide reporting and analytics. Currently operating 148 retail stores across eight states, Sprouts Farmers Markets has become synonymous with fresh produce, great prices and old-fashioned customer service.
Sprouts Farmers Market chose Manthan’s ARC applications as its business intelligence standard. Sprouts plans to use Manthan Systems’ dynamic analytical views and at-a-glance dashboards for greater insights into product sales, store operations, labor, task management, inventory optimization and merchandising. Manthan Systems’ self-training guided analytics and at-a-glance dashboards will provide actionable information, enabling Sprouts personnel to immediately see key business opportunities, easily identify trends, and greatly enhance the decision-making process.
“Manthan Systems’ proven experience in retail business analytics aligns with our vision of arming our team with role-based, mobile and easy to consume information. With their U.S.-led Global Operations and spirit of partnership, they were the perfect choice for us,” said Steve Black, chief information officer with Sprouts Farmers Market.”