Susser Holdings swings to Q2 profit; plans 17 new stores
Corpus Christi, Texas – Susser Holdings Corp. reported net income of $12.3 million in the second quarter of fiscal 2014, compared to a net loss of $4.3 million in the same quarter a year earlier. The elimination of a debt refinancing charge helped bring Susser back to profitability.
Susser plans to open 17 new Stripes convenience stores by the end of the year. The company also is is on track to merge with Dallas-based natural gas and propane company Energy Transfer Partners (ETP) in the third quarter of fiscal 2014.
Second quarter consolidated revenues were $1.87 billion, up 20% from $1.56 billion in the second quarter of 2013. Same-store sales rose 4%, aided by a shift in the Easter holiday.
Yellow Box store makes California debut
Columbus, Ohio — DSW’s Affiliated Business Group division and Yellow Box Corporation have opened the first-ever Yellow Box Footwear store in California, at the Westfield Topanga Mall, in Canoga Park.
Founded in 1998, Yellow Box is a footwear wholesaler best known for its jeweled sandals for women. The Yellow Box retail concept made its debut in June, with a store in Miami.
"We are very excited to debut our first Yellow Box Footwear store in southern California,” said Affiliated Business Group’s senior VP and general manager Christopher Lanning. “Yellow Box is a proven women’s footwear brand with a strong positioning in the market place. Customers will have a great opportunity to experience Yellow Box’s unique brand of fun and fashion in an incredible retail setting."
Sprouts net income springs up in Q2
Phoenix – Sprouts Farmers Market Inc. reported net income of $30.2 million in the second quarter of fiscal 2014, more than double the $12.5 million profit reported in the same quarter a year earlier. The elimination of pre-tax loss on extinguishment of debt of $8.2 million in the first quarter of fiscal 2013 helped boost Sprouts’ net income.
Net sales in the second quarter of 2014 were $743.8 million, or a 20% increase, compared to $622.37 million in the same period in 2013. Net sales growth was driven by strong performance in new stores opened, including the company’s first new store in the Atlanta market, and a 9.5% increase in same-store sales growth.
Sprouts expects same-store sales growth in the third quarter and full fiscal year 2014.