Stein Mart is preparing to launch its e-commerce business. The company expects the initiative to have a negative bottom line impact this year, in part, because of startup costs. For the second quarter ended Aug. 3, however, the company is enjoying total sales of $291 million, up 3.8% from the prior-year quarter. Comparable store sales increased 6.4%.
Heading into the 2013 holiday season, NPD is forecasting that full year consumer electronics sales will rise by 9%. According to NPD’s 2013 Household Penetration Study, nearly 72% of consumers expect to buy a consumer electronics product in the next 12 months.
Bon-Ton Stores pointed to inclement weather in its markets and higher gas prices in the Northeast and Midwest for overall sales weaknesses which translated into a same-store sales decrease of 6.4% for the second quarter ended Aug. 3.
Sears Holdings saw revenues decrease to $8.9 billion for the quarter ended August 3, from $9.5 billion for the year-ago quarter. Fewer Kmart and Sears full-line stores accounted for approximately $210 million of that decline.
Dollar Tree customers are responding to the value retailer’s offerings in discretionary and consumable merchandise categories. As a result, its consolidated net sales for the second quarter ended Aug. 3 were $1.85 billion, up 8.8% from $1.7 billion for the prior-year quarter.
The Hain Celestial Group, a leading organic and natural products company, has appointed Stephen J. Smith as EVP and CFO, effective September 3. He replaces Ira J. Lamel, who announced his retirement as the company’s CFO Sept. 5, 2012 and which becomes effective at the end of the month.