Too Profit Surges
New Albany, Ohio, Too Inc. said its third-quarter profit climbed 40%, which it credited to higher sales and improved margin return.
The specialty retailer reported net income of $16 million, or 48? a share, vs. a year-ago profit of $11.4 million, or 33? a share. Sales rose 16% to $203.5 million from $175 million in the prior-year period. Same-store sales jumped 8% at the company’s namesake chain and surged 19% at its value-oriented Justice brand.
Finlay Signs New Agreement With Federated
New York City, Finlay Enterprises, the leading operator of licensed fine-jewelry departments in department stores, has signed a new three-year agreement with Federated Department Stores for the four Macy’s divisions in which Finlay currently operates. The new agreements were negotiated as a result of Federated’s recent acquisition of The May Department Stores Co. and the merged companies’ subsequent divisional realignment.
Couche-Tard Has Strong Quarter
Laval, Canada, Alimentation Couche-Tard posted strong second-quarter growth: Net earnings jump 44.9% to $55.5 million in the quarter ended Oct. 9. Revenues increase by 29.9% or $551.6 million to $2.39 billion. The company also signed an agreement in the second quarter to acquire 16 sites in New Mexico, United States and two agreements in the third quarter for 26 sites in Tennessee and seven sites in Ohio.