Kids Today Staff -- Home Textiles Today, June 18, 2001
Burlington 4Q sales climb 7.2%
Burlington Coat Factory Warehouse, parent of the Luxury Linens chain, said sales for its fourth fiscal quarter ended June 2 climbed by 7.2 percent, to $524.6 million form $489.4 million last year. Same-store sales rose by 0.7 percent.
Reflecting a choppy retail environment, same-store sales increased by 4.5 percent during March; dropped by 3.1 percent in April; and slipped by another 0.2 percent during May. An earlier Easter selling season, said the company, skewed same-store sales upwards in March, pulled them out of May results.
As of June 2, inventory levels were up by 6 percent from year-ago levels due to a larger number of stores this year. But comparable-store inventory levels were down slightly, by 0 .4 percent.
Sales for all of last year advanced by 10.6 percent, to $2.4 billion from $2.2 billion a year ago. Same-store sales advanced by 3.0 percent for the year.
During the fiscal year ended June 2, the retailer opened 16 stores, relocated six and expanded or remodeled an additional 16 units.
The retailer is expected to report complete sales and earnings data for the fourth quarter and the year some time next month.
Delia's files For 5 million shares
Delia's Corp., a New York-based multi-channel retail chain focusing on teenage girls and young women, has filed a shelf registration statement with the Federal Securities and Exchange Commission covering the issue of up to 5 million additional shares of its Class A common stock.
Delia's markets apparel, accessories and home fashions to a target audience of teenage girls and young woman through the Delia's catalog, on-line and in 37 Delia's stores.
Springs declares dividend of 33 cents per share
Springs Industries Inc. has declared a quarterly dividend of 33 cents per share on its Class A common stock and 30 cents a share on its Class B common stock.
The dividend is unchanged from the previous quarter, and is payable June 29 to shareholders of record as of June 18.
Target nets dividend of 5.5 cents per share
Target Corp., the Minneapolis-based retailer, has declared a quarterly dividend of 5.5 cents per share of common stock. It marks the company's 134th consecutive dividend paid since October 1967, when the company became publicly held.
The dividend is payable Sept. 10 to shareholders of record as of Aug. 20.
TJX posts dividend of 45 cents per share
The TJX Companies Inc., based in Framingham, MA, has declared a quarterly dividend on its common stock of 45 cents per share.
The dividend is payable Aug. 30 to shareholders of record as of Aug. 9.
Hancock gets dividend of 4 cents per share
Hancock Fabrics, a specialty fabric chain headquartered in Tupelo, MS, has declared a cash dividend of 4 cents per share of common stock. The dividend is payable July 15 to shareholders of record as of July 1.
Hancock operates 436 retail fabric and home sewing stores in 42 stores and supplies more than 100 wholesale customers. It operates two Internet stores under the names hancockfabrics.com and homedecorating.com.
Mednick Talks to HTT about Online Trends for Textiles