Thursday Morning 3Q Financial Roundup
Columbus, Ohio, Limited Brands, Inc. reported earnings of $53.1 million in the third quarter ended Oct. 30, an increase of 6.8% when compared with earnings of $49.7 million in the prior-year period. Comparable-store sales rose 1% while total revenues edged up 2% to $1.89 billion.
• York, Pa.-based Bon-Ton Stores, Inc. narrowed its loss in the third quarter to $745,000, down from $1.7 million. Same-store sales at Bon-Ton stores were down 3.1%, while same-store sales at Elder-Beerman, which are not yet included in the reported total, dropped 4.8%. Overall sales for the 13-week period were up 65% to $297.8 million.
• Williams-Sonoma, Inc. reported earnings of $28.5 million in the third quarter, an increase of 19.2% when compared with earnings of $23.9 million in the same period the prior year. Same-store sales rose 3.1%, with retail sales increasing 11.6% to $392.1 million from $351.4 million. Overall sales for the San Francisco-based company were up 14.2% to $722.8 million. • Green Bay, Wis.-based ShopKo Stores, Inc. doubled its net income in the third quarter ended Oct. 30, from $1 million to $2 million. Comparable-store sales were down 1.5% during the 13-week period, with overall sales dipping 1.6% to $746.4 million.
HSN Division Acquires Direct Merchant
St. Petersburg, Fla., HSN Improvements, a direct marketing subsidiary of TV and Web retailer HSN, is spending an undisclosed sum to acquire direct merchant Alsto, a catalog and Web retailer. Alsto, owned by Dick Blick Holdings, sells outdoor decor and furnishings.
Nordstrom Names Board Member
Seattle, Nordstrom, Inc. has elected Phyllis Campbell, chief executive and president of The Seattle Foundation, to its board of directors. From 1993 until 2001, she served as president of U.S. Bank of Washington. Campbell also serves on several corporate and nonprofit boards, including Safeco, Alaska Air Group and Seattle University.