Men’s Wearhouse Q1 profit climbs 23%
Fremont, Calif. — The Men’s Wearhouse Inc. reported Wednesday that net income for the first quarter rose 23% to $33.1 million, from $26.9 million last year.
Sales for the company that runs Men’s Wearhouse namesake stores, along with the Moores and K&G chains, increased 5.1% to $616.5 million, beating Wall Street’s expected $604.7 million in revenue. Same-store sales rose 7.1% at namesake stores, but slid 5.3% at K&G.
Shoe Carnival names e-commerce head, to accelerate omni-channel
Evansville, Ind. — Shoe Carnival said Thursday it has named Kent Zimmerman as VP e-commerce, effective June 3.
Zimmerman, who comes to the footwear retailer from global systems integration and solutions provider Optaros, is charged with overseeing Shoe Carvinal’s e-commerce and omni-channel strategies.
“We believe Shoe Carnival has a tremendous opportunity to grow our e-commerce and overall omni-channel presence in the family footwear industry,” said Cliff Sifford, president and CEO. “
Zimmerman also spent seven years with The Finish Line to help build and grow its direct-to-consumer business, as well as lead design and development efforts of its omni-channel inventory systems.
Five Below swings to profit in Q1; 60 stores on tap
Philadelphia — Five Below Inc. reported Wednesday a profit of $1.6 million, compared with a loss of $1.2 million in the year-ago period.
The discount retailer saw sales during the quarter rise 33% to $95.6 million from $71.8 million, meeting internal expectations but beating Wall Street’s forecasted $93.9 million in revenue. Same-store sales advanced 4.2%.
According to president and CEO Thomas Vellios, Five Below will open another 60 stores by the end of 2013.