Online marketplace Overstock.com reported financial results for the quarter ended June 30, 2010 on Thursday. Overstock's revenue rose 32% in Q2, year-over-year, to $231.3 million. Gross profit rose 15% to $41.
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The second half of the year is off to a slow start for retailers, who reported Thursday that sales at stores open at least a year were weaker than expected in July, increasing 2.9 percent from July of last year, according to a tally by Thomson Reuters.
Dress Barn reported late Thursday that revenue for the quarter ended July 24 surged 78% with the inclusion of retailer Justice, which Dress Barn acquired in November as part of its purchase of Tween Brands.Revenue for the quarter was $710.9 million.
Mobile-commerce enabler Firethorn Holdings, a subsidiary of Qualcomm, said late Thursday that American Apparel will implement the SWAGG mobile application once it is released for use.
Big 5 Sporting Goods Corp. reported second-quarter sales and earnings growth roughly flat with the year-ago period, as a sluggish economy and unseasonably cool weather in many of the its markets curbed shoppers' spending.
Sur La Table, a Seattle-based seller of kitchen gadgets, will accelerate its store openings after a bit of a breather last year, the Seattle Times reported. The retailer announced Wednesday it plans to end 2010 with seven more stores than it had in 2009, for a total of 82 locations nationwide.Sur La Table has already opened a store in King of Prussia, Pa., and expects to open the remaining six later this year, with locations in the Boston area; Troy, Mich.; New York City; South Florida; and Houston. It also will relocate two stores.
Hilco Consumer Capital, through its Hilco Brands unit, and in partnership with Infinity FS Brands, announced the completion of a $7 million term loan to Frederick's of Hollywood Group. Hilco Brands acted as agent on the transaction. The loan, which is secured in part by the intellectual property of Frederick's, including the company's trade name and trademarks, is being used to repay a $2 million bridge loan provided by Wells Fargo Financial and also for general working capital purposes.Mitchell C. Berk, CEO of Hilco Consumer Capital, a unit of Hilco Trading, LLC, said, "The rich and long history of
Brisbane, Calif.-based bebe stores inc. announced that Emilia Fabricant will be the new president of bebe stores, effective Aug. 9. Emilia will oversee the bebe division, including its merchandising, design, planning and allocation, online sales, production, marketing and retail planning, and will report directly to Manny Mashouf, chairman and CEO of bebe stores. Emilia has more than 20 years of women’s apparel merchandising experience, and has held various positions including senior vice president, divisional merchandise manager with Barneys New York; CEO at Cadeau Maternity; and president and chief merchandising officer at Charlotte Russe. Bebe currently operates 292 stores, including
Hardwood flooring retailer Lumber Liquidators said Wednesday strong consumer demand drove an increase in revenue, helping its net income climb about 32% in the second quarter.For the three months ending June 30, the company said it earned $9.1 million, compared with $6.9 million a year ago. Net sales increased about 18% to $168.7 million, up from $143.1 million a year ago. Same-store sales rose 5.5.Our unique value proposition of price, selection, quality and availability continued to resonate well with customers and increase traffic," CEO Jeffrey W. Griffiths said in a statement.
Bebe Stores on Thursday said that Emilia Fabricant will become its new president. Her appointment takes effect on Monday, Aug. 9. The announcement came just two days after Fabricant announced her resignation as president of Destination Maternity, effective Aug. 3. Fabricant, who joined the Philadelphia-based company in May, said she was leaving for personal reasons, citing her desire to return to Southern California.Fabricant previously served as a senior VP at Barney's New York, CEO at Cadeau Maternity, and president and chief marketing officer at Charlotte Russe.