Roundy’s Supermarkets named IBM award winner
Strongsville, Ohio The IBM Retail User Group announced that Roundy’s Supermarkets was named winner of the 2010 Retail Innovation Award, presented at IBM User Group’s annual conference in San Antonio.
According to IBM, Roundy’s Supermarkets’ project, the “Automation of Self-Checkout Balancing”, entailed the installation of the vbScout self-checkout management solution in 90 Roundy’s Supermarkets locations. vbScout makes the management and monitoring of the self-checkout units more efficient. The goals of the project were to standardize self-checkout balancing practices and to reduce bookkeeping time while keeping units available to customers during business hours.
Finalists for the award included Migros Switzerland and solution-providers Bizerba GmbH, IBM, S3 Italy; Michaels Stores and solution-provider Vertex; and Stage Stores and solution-provider Cornell-Mayo Associates.
Limited Brands sees EPS increase
COLUMBUS, Ohio Limited Brands reported that adjusted earnings per share for the first quarter ended May 1, were 25 cents compared with earnings per share of 1 cent for the quarter ended May 2, 2009. First quarter operating income was $185 million compared with operating income of $65.2 million last year, and adjusted net income was $82.9 million compared with net income of $2.6 million last year.
Comparable-store sales for the first quarter increased 10%, and net sales were $1.93 billion compared to $1.72 billion last year.
The company stated that it expects 2010 second-quarter adjusted earnings per share to be 27 cents to 32 cents compared with adjusted earnings per share of 19 cents per share last year.
For 2010, the company expects adjusted earnings per share of $1.60 to $1.80.
Children’s Place Q1 sales, earnings up
SECAUCUS, N.J. The Children’s Place Retail Stores announced first-quarter net income from continuing operations of $28 million, or $1.00 per diluted share for the 13-week period ended May 1, compared with $23.7 million, or 80 cents per share in the first quarter of 2009.
Net sales increased 5% to $422.1 million in the first quarter of 2010, compared with $401.9 in the first quarter of 2009. Comparable-retail sales, which include online sales, declined 0.5% in the first quarter of fiscal 2010 compared with a 1% increase the previous year. During the first quarter of 2010, comparable-store sales declined 1.7% in the United States and 4.6% in Canada, while online sales increased 22%.
“We delivered record financial results and made significant progress on key initiatives in the first quarter of 2010,” commented Jane Elfers, president and CEO of The Children’s Place. “We strengthened the senior leadership team with the appointment of five talented and experienced executives to head our merchandising, planning, outlet, information technology and human resources operations. In addition, we accelerated our new store openings, sharpened our marketing programs and continued to drive double-digit online growth.”
The company updated its guidance for fiscal 2010 and now projects earnings per diluted share from continuing operations will be in the range of $3.05 to $3.15, reflecting its first quarter results, from its initial guidance of $2.90 to $3.10. The company provided initial guidance for the second quarter of 2010, which is forecast to be a loss per share from continuing operations of 38 cents to 33 cents.