Home / Knowledge / News / Fashion / Hart Stores to open nine new stores this fall
Hart Stores to open nine new stores this fall
12
Sep '08
Hart Stores Inc, an operator of mid-sized department stores reported net earnings of $1.5 million for the second quarter ended August 2, 2008, compared to $2.1 million in the same period the previous year.

Sales for the second quarter ended August 2, 2008 were the same as the previous year at $41.0 million.

For the six-month period ended August 2, 2008 net earnings were $1.5 million or $0.11 diluted net earnings per share compared to $1.8 million or $0.13 diluted net earnings per share for the same period last year. Total sales increased by $974,000 or 1.4% to $72.1 million from $71.1 million last year.

The Company recently announced the acquisition of eight new locations from the former SAAN stores and an additional location in Amos, Québec, with all nine new locations opening this Fall in time for the Holiday shopping season.

With these openings as well as the five already opened since the beginning of the year, the total new stores added for the year will be at 14. This will bring the total number of stores in operation to 89.

In commenting on the results and its current expansion plans, Mr. Michael Hart, President and Chief Executive Officer of Hart Stores said: "The Company realizes that the same store sales remained a challenge during an unseasonably cool summer.

We continue to see the positive impact from our strategic expansion plans and are pleased with the recent acquisition of the nine new locations.

They will provide a great synergy and further complement the critical mass in many of the new and existing tertiary markets in which we have established a solid performance."

Hart Stores Inc


Must ReadView All

Courtesy: Fancycrave.com from Pexels

Apparel/Garments | On 22nd Jun 2018

EU's retaliatory duty on US apparel takes effect

As part of the three-pronged response outlined by the European...

NCC applauds House passage of farm legislation

Textiles | On 22nd Jun 2018

NCC applauds House passage of farm legislation

The National Cotton Council (NCC) of the US has welcomed the passage...

Courtesy: Roman Pohorecki from Pexels

Apparel/Garments | On 22nd Jun 2018

UK launches inquiry on sustainability of fashion industry

The Environmental Audit Committee of the UK Parliament has launched...

Interviews View All

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Top executives
Textile industry, India

The event should be organised every year

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search