The Pantry to remodel 160 stores annually
New York — The Pantry is giving its stores a makeover. The chain will remodel 10% of its store portfolio, or approximately 160 locations annual, until it completes the job, said Pantry president and CEO Dennis Hatchell on the company’s third-quarter sales call.
The remodeling program will be store specific, according to Hatchell. He said the chain now has the scan data to execute a customized store set, and that it has a series of distinct demographic types.
Bank of America Merchants implement First Data solution
Atlanta — First Data Corp. announced that Bank of America Merchant Services will offer the First Data OfferWise solution to all eligible merchants’ 650,000 U.S. locations through 2Go Media’s iDeals Marketing Platform.
The integration of the First Data OfferWise solution through an API developed by CardSpring will allow Bank of America Merchant Services customers to electronically attach offers such as deals, eCoupons and loyalty programs to one or more of a consumer’s payment cards or mobile wallets to enable automatic redemption of the offer at the point of sale. The iDeals marketing platform publishes these offers to leading deals sites, local shopping directories and search engines to reach millions of consumers.
Dillard’s delivers 97% EPS growth
LITTLE ROCK, Ark. — Dillard’s posted an impressive 97% increase in earnings per share for its second quarter ended July 28. Net income for the quarter was $31 million, or 63 cents per diluted share, compared with net income of $17.6 million, or 32 cents per diluted share, for the same period last year.
Net sales for the quarter were $1.5 billion compared with net sales for the prior year period of $1.442 billion. Sales in comparable stores increased 3%.
Sales trends were strongest in ladies’ accessories and lingerie, followed by shoes and cosmetics. Weakest performing categories were home and furniture and juniors’ and children’s apparel. Sales trends were strongest in the Central region, followed by the Eastern and Western regions.
Dillard’s Chief Executive Officer, William T. Dillard, II, stated, “Continuing on the momentum of a successful first quarter, we are proud to report a 97% increase in second quarter earnings per share. Our 3% sales increase combined with gross margin improvement and control of our expenses enabled us to report a notable improvement in operating results today.”
At July 28, the company operated 285 Dillard’s locations and 18 clearance centers spanning 29 states and an Internet store at www.dillards.com. Total square footage at July 28 was 52.4 million.