Research Available: CSA Studies Sears
New York City, Chain Store Age has begun marketing original consumer and trade research. Accessed at www.chainstoreage.com/specialreports, the studies can be downloaded in PDF format. The four current studies available include:
• an 800-household survey of reactions to the new Sears Essentials stores
• the impact of the pending Federated-May Department Stores Merger
• the State of the Industry/Top 100 Retailers Annual Report
• the 2005 Physical Supports Census of store sizes and construction costs.
Michaels 2Q Profit Jumps
Irving, Texas, Michaels Stores Inc. posted a 15% gain in second-quarter profit. Net income rose to $30.8 million, or 22? a share, from $26.7 million, or 19? a share, a year ago. Sales rose 9% to $745.5 million from $682.9 million a year ago.
Same-store sales increased 4.2% in the quarter, driven by a 2.4% rise in the average ticket and a 1.4% gain in transactions. The best-selling departments were jewelry and beading, paper-crafting, foam and yarn.
The Finish Line Lowers 2Q Earnings Guidance
Indianapolis, The Finish Line Inc. reported net sales of $341.6 million in the second quarter, up 9% year-over-year, despite a 2% dip in same-store sales. The retailer also lowered its guidance on second-quarter diluted earnings to the range of 37?-to-39? per share. The retailer had previously projected the figure would come in between 48? and 50? per share.