Men’s Wearhouse Q2 profit up 33%, looks to open 110 stores in next five years
Houston — Increased sales across its brands helped drive The Men’s Wearhouse’s second-quarter net income up nearly 33%, beating estimates.
The retailer earned $57.1 million for the fiscal quarter that ended July 30, up from $43 million in the same quarter last year.
Revenue increased 22% to $655.5 million. Men’s Wearhouse said its purchase in 2010 of two British uniform and work-wear companies helped drive business.
On its quarterly conference call, the company said that, in light of its positive results over the past two years, it has reassessed its domestic store penetration and now believes an expansion of its traditional Men’s Wearhouse store base by approximately 18% from 591 stores to 700 stores is appropriate during the next 5 years.
The company also said its big and tall business is up 20% year-to-year, growing significantly faster than its regular size business, which is up 12%.
On the same call, Men’s Wearhouse said its Web sales are up 127% year-to-date, and that it is continuing to make significant investments in both systems and people to position itself for even more meaningful growth in the channel.
Asda mobilizes grocery site
Walmart’s U.K. subsidiary Asda announced that it has mobilized its grocery site to enable shoppung from a smartphone.
According to Asda,the new mobile-optimised site offers all of the features on the main Asda.com grocery website – meaning customers can register, shop and amend an existing order or delivery slot up until 10 p.m. the day before their delivery is due.
The new mobile optimised site also includes a mobile store locator, offering maps and directions so customers can find their nearest Asda when they are out and about, the company reported.
Kate Cuthbertson, Asda’s head of mobile strategy said, “We know our customers want shopping convenience at their fingertips – so we’ve developed an easy-to-use grocery website, fully accessible from Smartphones, with the option to add or amend orders right up until the evening before delivery.
“The mobile site was an international collaboration between Asda and the Walmart mobile team based in the US. We’ll be constantly updating and improving the site over the next few months, with lots more interesting mobile developments to follow soon.”
Naturade intros Sam’s Club exclusive adult nutrition shake
ORANGE, Calif. — Naturade on Wednesday announced the mass-market introduction of HealthSmart, a doctor-formulated daily protein shake mix that will serve as a comprehensive source of nutrition for active adults.
Endorsed by baseball hall of famer George Brett, HealthSmart contains 18 g of whey, soy, pea and rice protein isolates, and is fortified with omega 3s and antioxidants for heart health, probiotics and fiber for healthy digestion, and 24 vitamins and minerals.
In an exclusive distribution arrangement, HealthSmart initially will be available for purchase at select Sam’s Club locations across 25 states.