News

Walmart.com gives Facebook fans early access to back-to-school sale

BY Dan Berthiaume

San Bruno, Calif. — Walmart.com is giving fans of its Facebook page early access to a "Back to Class Cyber Monday" event being held Monday, Aug. 12. Customers will receive online discounts of up to 60% on close to 300 back-to-school items ranging as high as almost 60%, while supplies last. Fans of Wal-Mart’s Facebook page can gain early access to the sale by visiting the page on Sunday, Aug. 11 and clicking a special link.

"We’re offering our biggest back-to-school savings ever during a time when parents and students need it most," said Joel Anderson, president & CEO of Walmart.com U.S. "As parents, we recognize the importance of our children’s education, and Walmart.com’s ‘Back to Class Cyber Monday’ helps families prepare for academic success without sacrificing savings."

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B.Likes says:
Sep-28-2013 03:31 pm

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FINANCE

Roundy’s reports rough Q2 results

BY Dan Berthiaume

Milwaukee — Roundy’s reported generally disappointing financial results for the second quarter of fiscal 2013. Net income plummeted 40% from $18.9 million in the second quarter of the previous year to $13.5 million, while net sales for the second quarter of 2013 were $980.3 million, a decrease of $16.5 million, or 1.7%, from $996.8 million for the second quarter of 2012.

Roundy’s said the decrease was primarily driven by a 5.8% decrease in same-store sales and the effect of three stores closed during 2013, partially offset by the benefit of new stores. The decline in same-store sales was due to a 6.3% decrease in the number of customer transactions, partially offset by a 0.6% increase in average transaction size. Same-store sales comparisons were negatively impacted by the 2013 Easter and 2013 July 4th holiday shifts and the mix shift to greater generic pharmacy sales.

In addition, according to Roundy’s same-store sales were impacted by competitive store openings, wet and cooler weather conditions as well as the soft economic environment that continues to impact customer demand in the company’s core markets as compared to the prior year period.

Roundy’s updated its guidance for fiscal 2013, including an expected decline in same-store sales between 2.25% and 2.75% and sales growth of 1.5% to 2%.

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FINANCE

99 Cents Only goes from loss to gain in Q1 ‘14

BY Dan Berthiaume

City of Commerce, Calif. — 99 Cents Only Stores had a positive first quarter of fiscal 2014, swinging from a net loss to net income and also reporting gains in net and same-store sales. The retailer reported net income of $3.16 million, compared to a net loss of about $4.9 million a year earlier.

In addition, the company’s net sales increased $32.9 million, or 8.2%, to $433.9 million for the first quarter of fiscal 2014 compared to $401 million for the first quarter of fiscal 2013. Same-store sales increased 3.1%. As a result of a shift in the timing of Easter, 99 Cents Only estimates it lost about 1.8 percentage points of additional same-store sales gain

During the first quarter of fiscal 2013, the company opened six stores, three in California, one in Nevada and two in Texas. As of June 29, 2013, 99 Cents Only operated 322 stores, an increase of 7.3% in store count over last year. In fiscal 2014, 99 Cents Only expects to increase its store count by approximately 10%, exclusively in existing markets.

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