Michaels Stores Q4 profit rises 15%
Irving, Texas — Michaels Stores said its fourth-quarter profit rose 15%, boosted by higher sales.
For the three months ended Feb. 2, the company said net income rose to $112 million, up from $97 million in the year ago period.
Revenue rose 9% to $1.52 billion, helped by an extra week in the quarter. Same-store sales increased 1.7%, with a 2.3% increase in the average ticket.
For the year, net sales increased 15% to $4.41 billion. Net income totaled $214 million, up from $176 million in fiscal 2011.
Urban Outfitters deploys PCSTrac’s next-generation inventory management tool
Philadelphia — PCSTrac, in partnership with Urban Outfitters, has launched the next generation of StoreTrac software,a web-based inventory control and management application for retail store operations.
The enhanced application delivers a store-level snapshot of shipments by volume and category type, as well as key details such as SKU, style, item quantity, item description, and shipment history on forthcoming shipments.
All Urban Outfitters Inc. brands are using the StoreTrac visibility solution, including Urban Outfitters, Anthropologie, and Free People – approximately 430 locations in all.
“We have been searching for better visibility into inbound product shipments so each store could plan their business more efficiently. PCS has provided us everything that we were looking for and changed the way we look at in-store receiving!” said Travis Serpa, senior operations manager, Urban Outfitter.
StoreTrac’s web-based reporting tools allow retail store managers to print reports at the store level to see exactly what is coming into the store. A SKU search function provides visibility to cartons in transit and allows store personnel to see what items are on their way.
“Our stores tell me that they ‘totally love’ the enhanced StoreTrac visibility and planning tool. It’s easy to use, contains invaluable merchandise data, and is a vast improvement from our previous process,” said Joel Martin Cox, transportation supervisor, Urban Outfitters.
Hot Topic Q4 profit surges, topping expectations
City of Industry, Calif. — Hot Topic reported net income in the fourth quarter ended February 2, 2013, of $12.1 million, up from $9.0 million in the year-ago period.
Total sales for the fourth quarter increased 11.0% to $233.0 million, compared to $209.9 million last year. Total same-store sales increased 2.6%. (Due to the 53rd week in fiscal 2012, fourth quarter comparable sales are compared to the corresponding 14 week period ended February 4, 2012.)
For the fiscal year of 2012, the company reported net income of $19.5 million, compared to a net loss of $1.8 million for fiscal year 2011 (52 weeks). The results include a charge of $16.6 million for the implementation of the strategic business changes and cost reduction plan.