Trans World Entertainment posts fourth consecutive annual loss
Albany, N.Y. — Trans World Entertainment said that net income for the fourth quarter rose to $12.4 million $11.4 million as it continued to cut costs by closing more of its f.y.e. (For Your Entertainment) stores.
Total sales for the quarter fell 22%, to $231.2 million. Same-store sales fell 6%.
For fiscal 2010, Trans World posted its fourth consecutive annual net loss. The net loss for the year was $31 million, compared with a net loss of $42.4 million in fiscal 2009.
Total sales for the year declined 20% to $652.4 million, compared with $814 million in fiscal 2009. Same-store sales declined 4%.
Trans World operated an average of 532 stores during the year, compared with 688 in 2009.
Walgreens, Rite Aid miss expectations in February
New York City — Walgreens said Thursday its same-store sales in February rose 3.1%, but the growth was slower than Wall Street expected. Analysts expected, on average, expected a 3.5% increase.
The company said pharmacy same-store sales rose 2.7% but were hurt by generic drug introductions over the last year. Non-pharmacy, or front-end, revenue increased 3.8%.
Rite Aid Corp. said Thursday that its same-store sales rose 1% in February, less than the 1.5% increase analysts had predicted.
Pharmacy revenue increased 0.9% and front-end revenue rose 1.1%.
Boot Barn relaunches e-commerce site on Demandware platform
Burlington, Mass. — Demandware announced that Boot Barn, the largest western wear retailer in the world, has relaunched its e-commerce site, BootBarn.com, on the Demandware Commerce platform. Launched in September, the site kicked into high gear with a large boost in online sales during the 2010 holiday season and has continued its strong momentum into 2011.
Replacing its legacy in-house platform, Boot Barn selected Demandware Commerce because of its ability to scale to support the company’s growth and the powerful merchandising functionality that makes it easy to keep up with its dynamic marketing campaigns, Demandware said. Advanced capabilities such as Active Merchandising allow Boot Barn merchants to control all online merchandising interactions across search, personalization, analytics, promotions and catalog with a single, task-based user interface.
“The footwear and apparel business is highly competitive so we needed to upgrade our older ecommerce site to one that could help us compete at a world-class level,” said Patrick Meany, CEO of Boot Barn. “We made a significant commitment and investment in our ecommerce initiatives in 2010 and our decision to work with Demandware is seriously paying off for us and helping us lay the groundwork for future growth.”