Ross Stores Q2 earnings beat estimates
Pleasanton, Calif. — Ross Stores Inc. reported a profit of $213 million for the second quarter, compared with $182 million last year and beating Wall Street’s expectations.
Revenue rose 9% to $2.5 billion, matching forecasts. Same-store sales edged up 4%, compared to a 7% rise in the same period last year. However, the retailer expressed caution about the months ahead.
"Looking ahead, given the ongoing uncertainty in the macro-economic environment and the potential for a more promotional and competitive retail climate, we believe it is prudent to maintain a somewhat cautious outlook for the remainder of the year,” said Michael Balmuth, CEO.
Hibbett Sports profit leaps 34% in Q2, cuts view
New York — Hibbett Sports reported that profit surged 34% to $10.5 million in the second quarter, compared with $7.9 million last year and just edging Wall Street expectations.
Sales matched forecasts with a 13% rise to $186.2 million. Same-store sales edged up 0.3%.
But the sporting goods retailer lowered its full-year outlook, citing concern over consumer spending.
“We delivered a solid increase in earnings for the second quarter. Comparable store sales were softer than planned due to a challenging economic environment,” said Jeff Rosenthal, CEO. “However, we are encouraged by a strong start to the third quarter.”
For fiscal 2014, the company plans to open between 70 and 75 stores, expand 18 and close 15 to 20.
Publix announces North Carolina store openings as it scouts for more locations
Lakeland, Fla. — Publix Super Markets on Friday announced it will enter the Winston-Salem market and add a third location in Mecklenburg.
The Winston-Salem store will measure 49,000 sq. ft. and is slated to open in 2015. The Cornelius store, located in Mecklenburg County, will also encompass 49,000 sq. ft. and will feature a drive-thru pharmacy. Opening is planned for late 2014.
Publix continues to aggressively look for additional locations throughout the state of North Carolina, the grocer said.