News

Shoe Carnival names e-commerce head, to accelerate omni-channel

BY Katherine Boccaccio

Evansville, Ind. — Shoe Carnival said Thursday it has named Kent Zimmerman as VP e-commerce, effective June 3.

Zimmerman, who comes to the footwear retailer from global systems integration and solutions provider Optaros, is charged with overseeing Shoe Carvinal’s e-commerce and omni-channel strategies.

“We believe Shoe Carnival has a tremendous opportunity to grow our e-commerce and overall omni-channel presence in the family footwear industry,” said Cliff Sifford, president and CEO. “

Zimmerman also spent seven years with The Finish Line to help build and grow its direct-to-consumer business, as well as lead design and development efforts of its omni-channel inventory systems.

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FINANCE

Five Below swings to profit in Q1; 60 stores on tap

BY Katherine Boccaccio

Philadelphia — Five Below Inc. reported Wednesday a profit of $1.6 million, compared with a loss of $1.2 million in the year-ago period.

The discount retailer saw sales during the quarter rise 33% to $95.6 million from $71.8 million, meeting internal expectations but beating Wall Street’s forecasted $93.9 million in revenue. Same-store sales advanced 4.2%.

According to president and CEO Thomas Vellios, Five Below will open another 60 stores by the end of 2013.

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FINANCE

U.S. May retail sales rose more than expected

BY Katherine Boccaccio

Washington, D.C. — A report released Thursday by the Commerce Dept. said that retail sales in the U.S. gained 0.6% in May, more than forecast and likely boosted by increased hiring during the month.

The increase was the largest in three months and followed a 0.1% advance in April. Bloomberg economists called for a 0.4% increase. The figures used to calculate economic growth, which exclude categories such as automobiles, climbed 0.3%.

“The consumer seems to be faring very well,” Brian Jones, senior U.S. economist in New York at Societe Generale, told Bloomberg. “The labor market is getting better. People realize that the employment situation has improved so they feel better and are probably willing to go out and spend money.”

Purchases are projected to climb at an average 2.4% annualized rate in the second half of the year, according to Bloomberg.

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