Jones Group net loss, net sales fall
New York – The Jones Group Inc. reported mixed results for the fourth quarter and fiscal year 2013, with net loss and net sales falling in both periods compared to the same periods a year earlier. Net loss fell to $47.1 million from $80.1 million during the fourth quarter, and to $19.7 million from $55 million during the full year.
However, net sales declined 8.5% to $876.5 million from $958.3 million during the quarter, and fractionally to $3.72 billion from $3.75 billion during the full year.
John T. McClain, CEO of Jones Group, said the company is taking actions to enhance profitability and focus on its core brands.
"Our financial position remains strong,” said McClain. “We ended the year with $116 million in cash and our revolver undrawn. We are continuing to focus on inventory management, expense control, and operational efficiencies and believe we will continue to improve margins and maintain a strong balance sheet."
McDonald’s global same-store sales increase 1.2% in January
Oak Park, Ill. – McDonald’s Corporation reported a 1.2% increase in global same-store sales during January 2014. That includes a decrease of 3.3% in U.S. same-store sales amid what McDonald’s called broad-based challenges including severe winter weather.
Across the U.S., McDonald’s says it is focused on regaining positive momentum with customer engagement, menu choice and operations excellence initiatives designed to enhance the customer experience. In other global markets, same-store sales grew 2% in Europe and 5.4% in APMEA (Asia-Pacific, Middle East and Africa).
Dick’s same-store sales rise 7% in Q4
Pittsburgh – Same-store sales at Dick’s Sporting Goods, Inc. rose 6% during the fourth quarter of fiscal 2013, unshifted for the 53rd week in fiscal 2012. The same-store sales results compare to guidance provided in November 2013 for a 2% to 3% increase on an unshifted basis.
Because of the better-than-expected same-store sales results and merchandise margin, partially offset by higher incentive compensation, the company now expects consolidated earnings per diluted share of approximately $1.10 to $1.11 for fourth quarter 2013, compared to guidance of $1.04 to $1.07 provided in November 2013. Dick’s also now expects consolidated non-GAAP earnings per diluted share of approximately $2.68 to 2.69 for the fiscal year 2014, compared to guidance of $2.62 to 2.65 provided in November 2013.
"Even with the cautious consumer environment and a shorter and promotional holiday season, we generated sales well above our original expectations, maintained merchandise margin levels consistent with last year and leveraged SG&A," said Edward W. Stack, chairman and CEO. "We enter 2014 with a robust and growing omni-channel network and exciting merchandising opportunities, which we believe will translate into double-digit earnings growth."