News

Stage Stores Q3 loss widens; cuts forecast

BY Marianne Wilson

New York — Stage Stores said Thursday that its fiscal third-quarter loss widened as some expenses rose. The company cut its fiscal 2013 adjusted earnings forecast.

The department store retailer lost $11 million for the period ended Nov. 2, compared to a loss of $8.9 million.

Revenue declined 3% to $360.2 million, from $370.6 million. Same-store sales fell 4.6%.

Selling, general and administrative expenses climbed to $98.6 million from $92.5 million during the quarter. Interest expense increased to $718,000 from $568,000.

Stage Stores said that its strongest categories were cosmetics, accessories and footwear. By region, sales were strongest in the Northeast and South Central.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
News

Dollar Tree third-quarter results bolstered by increased traffic

BY CSA STAFF

Increased customer traffic helped drive Dollar Tree’s third-quarter results. The retailer cited growth in consumer basics as well as seasonal and variety merchandise, and said its higher margin variety categories are growing at a faster pace.

The company reported consolidated net sales for the quarter of $1.9 billion, a 9.5% increase from $1.72 billion for the year-ago quarter. Comparable store sales increased 3.1%.

“I am pleased with our performance in the third quarter,” said CEO Bob Sasser. “Our comparable-store sales increase was driven principally by increased customer traffic, as new customers are finding Dollar Tree to be part of their solution to balance their household budgets. Our stores executed a quick transition from Halloween and are set with fresh, high-value merchandise for Thanksgiving and the Holiday season.”

During the third quarter, Dollar Tree opened 117 stores, expanded or relocated 19 stores and closed 6 stores. The company operates 4,953 stores in 48 states and 5 Canadian Provinces as of Nov. 2.

Estimated sales for the fourth quarter are anticipated to be in the range of $2.25 billion to $2.31 billion, based on a range of low-single digit positive comparable store sales.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
News

China, U.S., U.K. top e-commerce opportunity study

BY Marianne Wilson

New York — China takes the top spot in online retail market opportunity, followed by Japan, the United States, the United Kingdom, and Korea, according to a new global e-commerce study by A.T. Kearney. (Kearney’s “2013 Global Retail E-Commerce Index” is comprised of 30 developed and developing markets.)

Developing countries were prominent in the Index, holding 10 of the 30 positions. According to the report, many developing markets have been able to shortcut the traditional online retail maturity curve as online retail grows at the same time as physical retail becomes more organized. E-Commerce is increasingly viewed by retailers as an efficient and effective global expansion vehicle.

“Consumers in developing markets are fast adopting behaviors similar to those in more developed countries,” said Mike Moriarty, A.T. Kearney partner and co-author of the study. “For example, mobile phones per capita in Russia (1.8) and the United Arab Emirates (1.7) are much higher than many developed markets, including the United States (1.0) and France (1.0). Consumers in these countries use their phones to research products, compare prices and seek input from their friends on social media.”

Among the study’s findings:

  • Global online retail has grown at 17%, with growth particularly strong in Latin America (27%) and Asia Pacific (25%). One major factor is Internet penetration; another is payment methods, which vary according to country.
  • Mobile phone ownership and use figures largely into the rating, where countries with one or more mobile devices per capita are clearer winners in the e-commerce arena.
  • Across the board, consumers and merchants have become more savvy – pre-purchase research and showrooming are commonplace throughout the world.
  • Logistical considerations are the biggest hurdle in e-commerce growth, particularly delivery and distribution/warehousing.
  • Electronics and apparel continue to be the biggest online sellers.

Here is the top 2013 Global E-Commerce Index ranking:

Index Rank Country
1 China
2 Japan
3 United States
4 United Kingdom
5 Korea, South
6 Germany
7 France
8 Brazil
9 Australia
10 Canada
11 Singapore
12 Argentina
13 Russia
14 Hong Kong
15 Italy
16 Sweden
17 Slovakia
18 New Zealand
19 Netherlands
20 Chile
21 Finland
22 Turkey
23 Venezuela
24 Belgium
25 United Arab Emirates
26 Norway
27 Ireland
28 Denmark
29 Switzerland
30 Malaysia

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...