The American shoe retail chain is introducing its first mobile application for shopping during the current third quarter of its financial year. At the same time, it is converting fulfillment of its e-commerce orders from a third party to its own distribution center and its own stores.
The company is taking these new initiatives for the long term after reporting relatively poor results for the second quarter ended Aug. 2. With comparable store sales declining by 2.1 percent from the year-ago period, revenues rose by only 2.6 percent to $222.1 million, but the gorss margin fell to 28.0 percent from 28.9 percent and net earnings fell by 55 percent to $2.58 million.
Comparable store sales turned positive in July thanks to an offer of casual and athletic shoes at exceptional prices for back-to-school, but the management remains conservative, predicting that sales will go up or down by one percent on a same-store basis in the third quarter, and stay flat or rise by up to two percent for the second half.