FINANCE

Pier I Q3 sales up 10.9%; holiday shopping starts strong

BY Marianne Wilson

Fort Worth, Texas — Pier I said its total sales increased 10.9% to $425 for the third quarter, ended Nov.15, with comparable-store sales rising 7.9% from the year-ago period.

“Excluding the impact of Hurricane Sandy, we estimate that third-quarter comp-store sales would have increased slightly over 9%,” said Alex Smith, Pier 1’s president and chief executive. “We have had a terrific start to the holiday season, including a very strong Thanksgiving weekend, and believe the business is ideally positioned with a compelling merchandise assortment and multiple ways to shop the Pier 1 Imports brand, including both in-store and online.”

Christopher & Banks as 637 stores in 44 states, including 386 Christopher & Banks stores and 171 CJ Banks stores, which sell plus size women’s clothing. It also has 55 “dual” Christopher & Banks/CJ Banks locations and 25 outlet stores.

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FINANCE

Genesco Q3 profit jumps 56%; raises 2013 outlook

BY Staff Writer

Nashville, Tenn. — Genesco Inc. said Friday its third-quarter profit increased to $41 million, from $26.2 million in the year-ago period, better than Wall Street expected. The company also raised its fiscal 2013 outlook, even as it warned that November was off to a slow start.

“The fourth quarter got off to a slow start with November comparable store sales down 4%, compared with a 12% increase in November last year,” said Robert J. Dennis, chairman, president and CEO. “We estimate that Hurricane Sandy reduced November comparable store sales by approximately 1% to 2%.”

Sales in the quarter rose 7.8% to $664.5 million from $616.5 million. Same-store sales rose 4% for the company, with an 8% increase in the Journeys Group, a 5% decrease in the Lids Sports Group, a 9% increase in the Schuh Group, and a 6% increase in Johnston & Murphy Group.

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REAL ESTATE

Walgreens opens Los Angeles flagship; store is chain’s 8,000th location

BY Marianne Wilson

Deerfield, Ill. — Walgreens on Saturday will officially open its 8,000th store nationwide and its first flagship on the West Coast. The store, located in Los Angeles at the iconic corner of Sunset and Vine, features an extensive collection of innovative offerings, products and services, many of which are not standard fare.

The expanded features will include a LOOK Boutique beauty department. Britain’s leading skincare brand, No7, created by Boots, will be available in a Walgreens store for the first time. (The availability of No7 products at this Walgreens follows the strategic partnership between Walgreens and Alliance Boots, the leading international pharmacy-led health and beauty group.)

The department also will have specially-trained beauty advisors, including a No7 beauty advisor, on hand to offer guidance finding the best solutions for individual needs. Expert shaping and grooming services will be available at the Eyebrow Bar.

Other features include:

  • An enhanced, state-of-the-art pharmacy designed to encourage greater interaction between pharmacists and patients. Team member “health guides” will help pharmacy customers navigate a wide range of health and wellness products, services and resources including immunizations and health tests. The pharmacy also features an “Ask Your Pharmacist” desk, consultation rooms and Express Rx kiosks for swift checkout.
  • A juice and smoothie bar featuring fresh fruits and vegetables included in the 24 distinct recipes available. Customers can also enjoy eight flavors of self-serve frozen yogurt accompanied by an enticing toppings bar.
  • Hundreds of fresh food items including produce and high-quality, on-the-go meal options such as wraps, sandwiches and salads made fresh daily.
  • A best-in-class wine selection boasting more than 700 fine wines that will pair well with the store’s assortment of artisan and brie cheeses as well as specialty meats, decadent chocolates and more. A Beverage Wizard kiosk provides food and beverage pairing recommendations.
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