FINANCE

Kirkland’s income falls on higher expenses

BY CSA STAFF

Nashville, Tenn. — Kirkland’s said Friday that its first-quarter net income fell 51% stung by higher expenses, increasing freight costs and competition over price. Its results, however, exceeded Wall Street’s expectations.

The company earned $3.2 million for the period ended April 30, down from $6.5 million, a year earlier.

Total operating expenses rose to $29.7 million from $26.7 million.

Revenue climbed to $94.4 million from $93.5 million. Same-store sales fell 8.4%. Cost of sales climbed to $56.3 million, from $52.8 million.

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FINANCE

Cost Plus narrows loss

BY CSA STAFF

Oakland, Calif. — Cost Plus reported a narrower loss of $3.4 million for its first quarter, compared with a net loss of $10.3 million for the same period in 2010.

Revenue increased 6% to $199.7 million, from $188.6 million.

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News

Get schooled on where college students shop

BY CSA STAFF

OBERLIN, Ohio — Walmart and Target are the top go-to retail stores for college students, according to a new study.

The Student Watch study, conducted by OnCampus Research — a division of the National Association of College Stores — found that among 15,000 college students from 21 campuses nationwide, 62% reported that they shopped at Walmart in the past 90 days. Coming second was Target with 58%, followed by such dollar stores as Dollar Tree and Dollar General with 36%.

When taking the education level of students into account, the study found a bigger discrepancy between where students shopped. Freshmen students were more likely to shop at Walmart(69%), while a higher percentage of graduate students shopped at Target (59%).

OnCampus survey was conducted between Oct. 1 and Oct. 31, 2010.

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