‘Modern Family’ star gets exclusive line at Kmart
HOFFMAN ESTATES, Ill. — Kmart, LF USA and Latin World Entertainment Licensing announced the launch of a new lifestyle collection by renowned actress Sofia Vergara. Sold exclusively through Kmart, the collection will embody the "Modern Family" star’s signature style of glamour and sexiness with an air of approachability, according to a press release.
The collection, which will include sportswear, dresses, handbags, jewelry, and footwear will be available at over 800 Kmart stores nationwide and Kmart.com beginning this fall.
"The Sofia Vergara collection will draw on the star’s notable, personal style with designs that will have broad appeal," said John Goodman, EVP apparel and home for Sears Holdings. "As you look at the current brand portfolio at Kmart—from our longstanding relationship with Jaclyn Smith to our more recent introduction of Dream Out Loud by Selena Gomez—it is clear that we value the authenticity that comes from collaborating with talented celebrities whose sense of fashion is aspirational but attainable. We’re particularly pleased to be able to strengthen our apparel offering with this contemporary brand, designed especially for a young, fashion-conscious customer. We look forward to welcoming Sofia Vergara to the Kmart family."
In addition to her acting career, Vergara is a founding partner with Luis Balaguer of Latin World Entertainment, a 100% Hispanic-owned entertainment company serving the U.S. Hispanic market.
"I am thrilled to be introducing the Sofia Vergara brand with Kmart!" said Vergara. "I wanted to work with a national retailer that would truly value a collection that provides both fashion and quality at a price women could afford."
Rite Aid’s same-store sales get a boost
Camp Hill, Pa. — Rite Aid on Thursday morning posted a same-store sales increase of 1.1% for the four weeks ended Jan. 22, including a 2.2% lift across the front-end and growth of 0.6% in pharmacy comparable sales.
Prescription count at comparable stores was flat compared with the prior-year period.
Total drug store sales were $1.9 billion, which is flat as compared with the same period last year. Prescription revenue accounted for 69.1% of drug store sales, and third-party prescription revenue represented 93.3% of pharmacy sales.
Tractor Supply Q4 comp up 13.1%
Brentwood, Tenn. — Tractor Supply Co. reported that net sales for the fourth quarter increased 19.7% to $1.03 billion from $862.5 million in the prior year’s fourth quarter. Same-store sales increased 13.1%, compared with a 0.7% increase in the prior-year period.
Net income for the quarter was $50.2 million, or 67 cents per diluted share, compared with $37.3 million, or 51 cents per diluted share, in the prior year’s fourth quarter.
The company opened 27 new stores and closed two stores in the quarter, compared with 18 new store openings and no closed stores in the prior year’s fourth quarter.
Jim Wright, chairman and CEO, stated, "The team executed extremely well throughout the fourth quarter, further enabling us to exceed our goals for the year. Through broad-based sales strength and organizational discipline across the business, we achieved record sales and profitability. We served our customers with more effective merchandising, focused on key items, seasonal buys, and improved product placements. We are pleased with our accomplishments and the momentum we carry into 2011 as the destination store for the rural lifestyle."
For fiscal 2010, net sales increased 13.5% to $3.64 billion, from $3.21 billion in fiscal 2009. Same-store sales increased 7%, compared with a 1.1% decrease for fiscal 2009.
For fiscal 2010, net income was $168 million, or $2.25 per diluted share, compared with net income of $119.7 million, or $1.63 per diluted share, for fiscal 2009.
During fiscal 2010, the company opened 74 new stores and closed three stores compared with 76 new store openings, two relocations and one closure in fiscal 2009.
The company anticipates net sales for fiscal 2011 will be approximately $4 billion to $4.07 billion, with same-store sales expected to increase approximately 2.5% to 4.5%. The company projects 2011 full year net earnings to range from $2.54 to $2.62 per diluted share.
For the full year, the company expects approximately 80 to 85 new store openings.