Many retailers opened on Thanksgiving this year but regional discounter Fred’s remained closed and the impact of that decision was evident when the company reported a 2.3% decline in November same store sales.
Fred’s CEO Bruce A. Efird is confident about the company’s initiatives to reposition the convenience-center model, expand marketing and implement new technology — all factors that he expects will help restore growth in the fourth quarter and next year.
Despite sluggish comparable store sales in the second quarter, Container Store chairman and CEO Kip Tindell is pleased with the company’s overall earnings performance, driven in part by increased average ticket growth as well as new store growth.
Although Lululemon CEO Laurent Potdevin recognizes that there is still much to be done, he praised the company’s “meaningful” progress on building a scalable foundation for its next phase of global growth.
Hibbett Sports president and CEO Jeff Rosenthal said that comparable store sales for the second quarter ended Aug. 2 were softer than expected. However, he is encouraged by improvement in traffic in early August.
Tractor Supply is scheduled to provide complete second-quarter results in just under two weeks. But the first half of the quarter was affected by bad weather, which caused softness in sales, particularly in seasonal merchandise, prompting the company to lower its full-year guidance.
Persistent winter weather took a bite out of Stein Mart’s net income in the first quarter, but the retailer rallied once the weather improved. It closed the quarter with total and comparable-store sales increases, and the upward trend has continued through May.
Bebe stores cited various factors, among them severe weather conditions that caused 136 store closures, the shuttering of 19 unproductive stores and the timing of Easter in late April, as contributing to its 17.2% net sales decrease in the third quarter from the prior-year quarter.
REI, a leading specialty retailer of outdoor gear and apparel, achieved record annual sales of $2 billion in 2013, up 5.9% from $1.9 billion the previous year, despite a challenging retail environment and severe winter weather.
Hibbett Sports experienced a significant slowdown in January due to significant weather-related store closures and a less favorable sales impact this year from the college football championship game. However, sales trends improved in February as weather patterns normalized and the retailer rolled out its spring assortment.
Whole Foods Market said total sales for the first quarter ended Jan. 19 climbed 10% to a record $4.2 billion. But those results reportedly missed analysts’ expectations, and the company has lowered its earnings outlook for 2014 as a result.
GameStop reported increases in global and same-store sales for the nine-week holiday sales period ended Jan. 4, but results missed analysts’ expectations thanks to a greater-than-expected decline in sales of new game titles for Xbox 360 and PlayStation 3.
Whole Foods Market sees demand for 1,000 new stores in the U.S. and thinks Canada and the U.K. hold great promise as well, based on its sales increase of 12% to $3.1 billion for the third quarter ended July 7, from $2.7 billion for the same year-ago period.
Global specialty retailer Bebe reported retail sales of $109 million for the fourth fiscal quarter ended July 6, a decrease of 8.5% compared to $119.1 million for the fiscal quarter ended June 30, 2012.