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August 28, 2014

Fast-fashion competitors like H&M and Forever 21 and teens more interested in technology than clothing make these challenging times for Abercrombie & Fitch, whose second quarter revenue fell 5.8% to $890.6 million, missing Wall Street projections.

New Dublin, Ohio -- Fast-fashion competitors like H&M and Forever 21 and teens more interested in technology than clothing make these challenging times for Abercrombie & Fitch, whose second quarter revenue fell 5.8% to $890.6 million, missing Wall Street projections. In a nod to changing fashion tastes, the company is phasing out the signature logo-centric clothing that helped build it into a teen retail powerhouse.

August 28, 2014

Fast-fashion competitors like H&M and Forever 21 and teens more interested in technology than clothing make these challenging times for Abercrombie & Fitch, whose second quarter revenue fell 5.8% to $890.6 million, missing Wall Street projections.

New Dublin, Ohio -- Fast-fashion competitors like H&M and Forever 21 and teens more interested in technology than clothing make these challenging times for Abercrombie & Fitch, whose second quarter revenue fell 5.8% to $890.6 million, missing Wall Street projections. In a nod to changing fashion tastes, the company is phasing out the signature logo-centric clothing that helped build it into a teen retail powerhouse.

August 28, 2014

Brown Shoe Company increased net income 17% to $18.1 million in the second quarter of fiscal 2014, from $15.4 million in the same period the prior year.

St. Louis – Brown Shoe Company increased net income 17% to $18.1 million in the second quarter of fiscal 2014, from $15.4 million in the same period the prior year. Net sales rose 2% to $635.9 million from $621.7 million, while same-store sales at its primary Famous Footwear brand climbed 1.6%.

Brown Shoe credited back-to-school sales at Famous Footwear, supported by a strong omnichannel customer experience, as helping to drive second quarter results. Brown expects positive same-store sales growth at Famous Footwear in the third quarter.

August 28, 2014

Brown Shoe Company increased net income 17% to $18.1 million in the second quarter of fiscal 2014, from $15.4 million in the same period the prior year.

St. Louis – Brown Shoe Company increased net income 17% to $18.1 million in the second quarter of fiscal 2014, from $15.4 million in the same period the prior year. Net sales rose 2% to $635.9 million from $621.7 million, while same-store sales at its primary Famous Footwear brand climbed 1.6%.

Brown Shoe credited back-to-school sales at Famous Footwear, supported by a strong omnichannel customer experience, as helping to drive second quarter results. Brown expects positive same-store sales growth at Famous Footwear in the third quarter.

August 28, 2014

Charges related to the decision by Destination XL Group Inc. to exit the Sears Canada Direct business resulted in the retailer’s net loss growing to $4 million in the second quarter of fiscal 2014, from $1.6 million a year earlier.

Canton, Mass. – Charges related to the decision by Destination XL Group Inc. to exit the Sears Canada Direct business resulted in the retailer’s net loss growing to $4 million in the second quarter of fiscal 2014, from $1.6 million a year earlier.

Total sales fared better, driven by increased traffic and higher conversion rates, increasing 6% to $103.7 million, compared with $98 million in the second quarter of fiscal 2013.Same-store sales rose 7%.

August 28, 2014

Charges related to the decision by Destination XL Group Inc. to exit the Sears Canada Direct business resulted in the retailer’s net loss growing to $4 million in the second quarter of fiscal 2014, from $1.6 million a year earlier.

Canton, Mass. – Charges related to the decision by Destination XL Group Inc. to exit the Sears Canada Direct business resulted in the retailer’s net loss growing to $4 million in the second quarter of fiscal 2014, from $1.6 million a year earlier.

Total sales fared better, driven by increased traffic and higher conversion rates, increasing 6% to $103.7 million, compared with $98 million in the second quarter of fiscal 2013.Same-store sales rose 7%.

August 28, 2014

Dollar General Corp. reported earnings of $251.3 million for the second quarter, in line with expectations, even as its sales decelerated.

Goodlettsville, Tenn. -- Dollar General Corp. on Thursday reported earnings of $251.3 million for the second quarter, in line with expectations, even as its sales decelerated. The company also said it still wants to buy Family Dollar Stores, even though the rival discounter rejected Dollar General’s bid of its $8.95 billion offer last week.

August 28, 2014

Dollar General Corp. reported earnings of $251.3 million for the second quarter, in line with expectations, even as its sales decelerated.

Goodlettsville, Tenn. -- Dollar General Corp. on Thursday reported earnings of $251.3 million for the second quarter, in line with expectations, even as its sales decelerated. The company also said it still wants to buy Family Dollar Stores, even though the rival discounter rejected Dollar General’s bid of its $8.95 billion offer last week.

August 28, 2014

In what should mark the end of a six-week standoff that began July 18, Arthur T. Demoulas, who was fired by his cousin Arthur S. Demoulas as CEO of the Market Basket supermarket chain in June, has agreed to buy the company for $1.5 billion.

Tewksbury, Mass. – In what should mark the end of a six-week standoff that began July 18, Arthur T. Demoulas, who was fired by his cousin Arthur S. Demoulas as CEO of the Market Basket supermarket chain in June, has agreed to buy the company for $1.5 billion. Since Friday, July 18, many Market Basket employees and customers have staged a boycott, dramatically slowing down business at the company’s 71 stores in Massachusetts, New Hampshire and Maine.

August 28, 2014

In what should mark the end of a six-week standoff that began July 18, Arthur T. Demoulas, who was fired by his cousin Arthur S. Demoulas as CEO of the Market Basket supermarket chain in June, has agreed to buy the company for $1.5 billion.

Tewksbury, Mass. – In what should mark the end of a six-week standoff that began July 18, Arthur T. Demoulas, who was fired by his cousin Arthur S. Demoulas as CEO of the Market Basket supermarket chain in June, has agreed to buy the company for $1.5 billion. Since Friday, July 18, many Market Basket employees and customers have staged a boycott, dramatically slowing down business at the company’s 71 stores in Massachusetts, New Hampshire and Maine.

August 28, 2014

Deferred expenses related to its 2011 purchase of Scotland-based Schuh Group, as well as a change in accounting for bonus for awards, reduced net income at Genesco Inc. to $4.8 million in the second quarter of fiscal 2015, down 43% from the same quarter the previous year.

Nashville, Tenn. – Deferred expenses related to its 2011 purchase of Scotland-based Schuh Group, as well as a change in accounting for bonus for awards, reduced net income at Genesco Inc. to $4.8 million in the second quarter of fiscal 2015, down 43% from the same quarter the previous year.

August 28, 2014

Deferred expenses related to its 2011 purchase of Scotland-based Schuh Group, as well as a change in accounting for bonus for awards, reduced net income at Genesco Inc. to $4.8 million in the second quarter of fiscal 2015, down 43% from the same quarter the previous year.

Nashville, Tenn. – Deferred expenses related to its 2011 purchase of Scotland-based Schuh Group, as well as a change in accounting for bonus for awards, reduced net income at Genesco Inc. to $4.8 million in the second quarter of fiscal 2015, down 43% from the same quarter the previous year.

August 28, 2014

Williams-Sonoma Inc. reported that its third quarter income rose 4% to $50.7 million from $48.9 million in the year-ago period, in line with forecasts.

San Francisco – Williams-Sonoma Inc. reported that its third quarter income rose 4% to $50.7 million from $48.9 million in the year-ago period, in line with forecasts. But the retailer issued a disappointing outlook for the current quarter.

Second quarter net revenues grew 6% to $1.04 billion, from $982 million in the year-ago period.

Total same-store sales increased 5.7%. Direct-to-customer revenues grew 9.4%.

August 28, 2014

Williams-Sonoma Inc. reported that its third quarter income rose 4% to $50.7 million from $48.9 million in the year-ago period, in line with forecasts.

San Francisco – Williams-Sonoma Inc. reported that its third quarter income rose 4% to $50.7 million from $48.9 million in the year-ago period, in line with forecasts. But the retailer issued a disappointing outlook for the current quarter.

Second quarter net revenues grew 6% to $1.04 billion, from $982 million in the year-ago period.

Total same-store sales increased 5.7%. Direct-to-customer revenues grew 9.4%.

August 28, 2014

Sixty-five days of performance from its new Zale division cut net income at Signet Jewelers Ltd. but boosted sales at Signet Jewelers Ltd. in the second quarter of fiscal 2015.

Hamilton, Bermuda – Sixty-five days of performance from its new Zale division cut net income at Signet Jewelers Ltd. but boosted sales at Signet Jewelers Ltd. in the second quarter of fiscal 2015. Expenses related to the Zale acquisition helped reduced net income 13% to $58 million, from $67.4 million a year earlier.

August 28, 2014

Sixty-five days of performance from its new Zale division cut net income at Signet Jewelers Ltd. but boosted sales at Signet Jewelers Ltd. in the second quarter of fiscal 2015.

Hamilton, Bermuda – Sixty-five days of performance from its new Zale division cut net income at Signet Jewelers Ltd. but boosted sales at Signet Jewelers Ltd. in the second quarter of fiscal 2015. Expenses related to the Zale acquisition helped reduced net income 13% to $58 million, from $67.4 million a year earlier.

August 27, 2014

Chico’s FAS Inc. reported net income of $30.1 million in the second quarter of fiscal 2014, down 31% from $43.6 million in the year-ago period.

Fort Myers, Fla. – Chico’s FAS Inc. reported net income of $30.1 million in the second quarter of fiscal 2014, down 31% from $43.6 million in the year-ago period. Price cuts needed to clear seasonal merchandise were a primary driver of Chico’s lower net income. Its results missed Wall Street expectations.

Net sales for the quarter ended August 2, 2014, were $671.1 million, up 3.3% from $649.5 million in the previous year, primarily reflecting the addition of 98 net new stores.  

Total same-store sales rose 0.3%.

August 27, 2014

Chico’s FAS Inc. reported net income of $30.1 million in the second quarter of fiscal 2014, down 31% from $43.6 million in the year-ago period.

Fort Myers, Fla. – Chico’s FAS Inc. reported net income of $30.1 million in the second quarter of fiscal 2014, down 31% from $43.6 million in the year-ago period. Price cuts needed to clear seasonal merchandise were a primary driver of Chico’s lower net income. Its results missed Wall Street expectations.

Net sales for the quarter ended August 2, 2014, were $671.1 million, up 3.3% from $649.5 million in the previous year, primarily reflecting the addition of 98 net new stores.  

Total same-store sales rose 0.3%.

August 27, 2014

Express Inc. beat Wall Street expectations for both profit and revenue during the second quarter of fiscal 2014.

Columbus, Ohio – Express Inc. beat Wall Street expectations for both profit and revenue during the second quarter of fiscal 2014. The retailer, which is facing a possible takeover battle, reported better-than-expected net earnings of $6.9 million, down 59% from $16.9 million in the year-ago period. The company also increased its annual profit forecast.

August 27, 2014

Express Inc. beat Wall Street expectations for both profit and revenue during the second quarter of fiscal 2014.

Columbus, Ohio – Express Inc. beat Wall Street expectations for both profit and revenue during the second quarter of fiscal 2014. The retailer, which is facing a possible takeover battle, reported better-than-expected net earnings of $6.9 million, down 59% from $16.9 million in the year-ago period. The company also increased its annual profit forecast.

August 27, 2014

Guess reported second-quarter net earnings of $22 million, a 50.5% decrease compared to adjusted net earnings of $44.3 million for the year ago period.

Los Angeles -- Guess on Wednesday reported second-quarter net earnings of $22 million, a 50.5% decrease compared to adjusted net earnings of $44.3 million for the year ago period. The retailer, which also cuts its fiscal year outlet, noted that soft traffic and promotional activity have continued to put its North American stores under pressure.

August 27, 2014

Guess reported second-quarter net earnings of $22 million, a 50.5% decrease compared to adjusted net earnings of $44.3 million for the year ago period.

Los Angeles -- Guess on Wednesday reported second-quarter net earnings of $22 million, a 50.5% decrease compared to adjusted net earnings of $44.3 million for the year ago period. The retailer, which also cuts its fiscal year outlet, noted that soft traffic and promotional activity have continued to put its North American stores under pressure.

August 27, 2014

The retail and hospitality market is entering a time of unprecedented IT growth for 2015, with overall spending expected to increase 5% over 2014 and surpass $190 billion worldwide, according to a new report by IHL, a global research and advisory firm specializing in technologies for the retail and hospitality industries.

Franklin, Tenn. -- The retail and hospitality market is entering a time of unprecedented IT growth for 2015, with overall spending expected to increase 5% over 2014  and surpass $190 billion worldwide, according to a new report by IHL, a global research and advisory firm specializing in technologies for the retail and hospitality industries.

August 27, 2014

The retail and hospitality market is entering a time of unprecedented IT growth for 2015, with overall spending expected to increase 5% over 2014 and surpass $190 billion worldwide, according to a new report by IHL, a global research and advisory firm specializing in technologies for the retail and hospitality industries.

Franklin, Tenn. -- The retail and hospitality market is entering a time of unprecedented IT growth for 2015, with overall spending expected to increase 5% over 2014  and surpass $190 billion worldwide, according to a new report by IHL, a global research and advisory firm specializing in technologies for the retail and hospitality industries.

August 27, 2014

The Michaels Companies Inc. on Wednesday reported a net loss of $48 million in the second quarter of fiscal 2014, compared to net income of $17 in the year-ago period, as $68 million in costs associated with debt-extinguishment and drove the retailer into the red.

Irving, Texas – The Michaels Companies Inc. on Wednesday reported a net loss of $48 million in the second quarter of fiscal 2014, compared to net income of $17 in the year-ago period, as $68 million in costs associated with debt-extinguishment and drove the retailer into the red. Its results, however, beat analysts estimates, and the company raised its full-year outlook. It was Michaels’ first earnings report since it went public again at the end of June.