Family Dollar sees 0.7% lift in Q3 comps
MATTHEWS, N.C. — Family Dollar Stores reported on Wednesday a slight lift in third quarter sales and net income of $79.9 million.
Total net sales during the quarter increased 2.6% to $2.73 billion from $2.66 billion in the third quarter of fiscal 2014. Comparable store sales for the 13-week period increased 0.7% as a result of an increase in the number of customer transactions, which was partially offset by a decrease in the average customer transaction value, the company stated.
During the quarter, net income totaled $79.9 million compared with $81.1 million in the year-ago period. On a per-share basis, net income was 70 cents compared with 71 cents in the year-ago period. Excluding $4.7 million of expenses in the third quarter of fiscal 2015 related to the pending merger with Dollar Tree, and $24.5 million in restructuring charges in the third quarter of fiscal 2014, adjusted net income per diluted share was $74 cents compared with 85 cents in the third quarter of fiscal 2014.
First CityTarget on East Coast set to open
BOSTON — Target is set to open its largest CityTarget store ever, and the first on the East Coast, at the end of July.
The Boston Globe reports the store, near Fenway Park in Boston, is the largest of the eight CityTargets the Minneapolis-based retail giant has opened since 2012.
CityTargets range in size from 80,000 square feet in Portland, Oregon to 125,000 square feet in downtown Chicago.
Read more by clicking here.
Pinterest rolls out buyable pins feature
SAN FRANCISCO — Pinterest on Tuesday officially started its foray into e-commerce.
The social networking giant has started rolling out a “buy it” button on its pins on iPhone and iPad apps. It also is launching new shop categories, including "Shop our picks," a curated selection of seasonal goods, and "Shop" for the latest buyable Pins.
Pinterest first announced the feature, called Buyable Pins, in early June, and named a few partners, including Jo-Ann Fabric and Craft Stores. In the coming weeks, “pinners” will have access to 30 million products available for purchase from a variety of retailers, including Macy’s, Neiman Marcus, and Nordstrom, along with retailers powered by Demandware, such as Michael’s and Gardner’s Supply Company, and thousands of Shopify stores.
Over time, Pinterest said it will make the feature available to Android and desktop users in the United States as well as international ones.
To read Pinterest’s blog on the new feature, click here.