Sunflower Farmers Market to open second San Jose location
Boulder, Colo. — Organic grocer Sunflower Farmers Market said Monday that it will open a second location in San Jose in 2012, the company’s fourth in the Bay Area.
Sunflower said it will anchor West Valley Shopping Center, and is slated to open the 32,000-sq.-ft. store in second quarter 2012.
A total of four new stores are planned for the Bay Area in 2012, including the two San Jose metro locations, one store in Mountain View and one in Fremont. The first San Jose location is set to open in June 2012 at Branham Square Shopping Center. A new location will open in Modesto in mid-November, followed by a store in Sacramento scheduled to open in March 2012.
Sunflower Farmers Market, which currently has 34 stores in seven states, expanded into California for the first time earlier this year
Q2 story not so good at Books-A-Million
BIRMINGHAM, Ala. — Reading into the Books-A-Million results, its easy to see how the liquidation at Borders took a toll on the book retailer’s second quarter. Books-A-Million reported that net sales for its second quarter decreased 11.4% to $106.4 million from net sales of $120 million in the year-earlier period. Comparable-store sales for the second quarter declined 12.9% compared with the 13-week period in the prior year. Net loss for the second quarter was $2.9 million, or 18 cents per diluted share, compared with net income of $1.9 million, or 12 cents per diluted share, in the year-earlier period.
Commenting on the results, Clyde Anderson, chairman, president and CEO, said, “Results for the quarter reflect a continuation of the trends that have been affecting our business since the beginning of the year. A soft publishing lineup, the effect of e-book migration and the impact of Borders’ liquidation all contributed to the decline in comparable-store sales. In this environment we have been focused on further developing the growth categories in our stores in preparation for the second half of the year while our balance sheet remains strong.”
For the 26-week period ended July 30, net sales decreased 11.2% to $210.4 million from net sales of $237 million in the year-earlier period. Comparable-store sales declined 13.1% compared with the same period in the prior year. For the 26-week period ended July 30, the company reported net loss of $6.4 million, or $0.41 per diluted share, compared with net income of $3.9 million, or 25 cents per diluted share, in the year-earlier period.
Late last month, Borders rejectedBooks-A-Million’s offer to buy 30 Borders store.
Ace Q2 revenues increase to $1.021 billion
In a second-quarter earnings season characterized by weather-depressed sales figures, Oak Brook, Ill.-based Ace Hardware Corp. managed to show a gain in revenues.
For the three months ended July 2, Ace saw revenues increase 0.5% to $1.021 billion. For the six-month period, sales increased 1.6% over the same two quarters in 2010.
“We are very pleased with our solid performance during the second quarter despite unfavorable weather conditions in April and May,” said Ray Griffith, Ace president and CEO. “In addition, we are excited about the introduction of our Clark+Kensington paint and primer, which will help drive increased sales and profitability for our retailers.”
The increase in revenue came as the company added 32 new stores and canceled 41. It ended the quarter with a total store count of 4,435, including international locations.
Net income for the quarter was $34.6 million, up 20% from the same period last year.
Other financial highlights from Ace’s second quarter:
• Merchandise sales to comparable domestic stores increased 0.6%;
• Gross profit for the quarter was $125.1 million, a decline of 12.2% from the prior year. Higher inbound freight costs contributed to the decline.
• Operating expenses decreased 15.7% to $83.7 million.