- Food Fight: How local stores can bag the competition in the battle over turf
- Save Mart Supermarkets to debut new store format
- Safeway profits soar in Q1; 10 Lifestyle stores on tap in 2012
- Safeway profit up in Q2, on track to open 26 new stores
- Safeway sells 16 Genuardi’s stores to Giant Food Stores
Atlanta, The Home Depot posted net earnings of $1.2 billion in the first quarter, up 16.3% from the year-ago period. Sales grew 8.1% to $19 billion on same-store sales growth of 2.1%.
• J.C. Penney Co. reported income from continuing operations of $172 million in the first quarter, more than triple the $41 million it posted in the year-ago period. Sales rose 3.9% to $4.19 billion on the strength of 3% comps growth.
• Staples Inc. posted first-quarter net income of $159 million, up 26.8% from the year before. Sales increased 13% to $3.9 billion on same-store sales growth of 4%.
• The TJX Cos. posted an 11% fall in first-quarter net income to $149.3 million. The decline came despite a 9% improvement in net sales to $3.7 billion and comps growth of 3%.
• BJ’s Wholesale Club Inc. recorded first-quarter net income of $18.6 million, up 15.5% from the same quarter a year before. Sales increased 9.8% to $1.8 billion on a comps improvement of 5.8%.
• Barnes & Noble Inc. recorded a 37% increase in net earnings from continuing operations to $9.9 million in the first quarter. Sales rose 4% to $1.1 billion on same-store sales growth of 2.2%.
• Dick’s Sporting Goods Inc. posted net income of $12.2 million in the first quarter, up 15.1% from the year-ago period. Sales grew 57% to $570.8 million, due to 3.2% same-store sales growth and the addition of the recently acquired Galyan’s chain.
• The Cato Corp. reported first-quarter net income of $18.4 million, up 9.5% from the same quarter a year before. Sales grew 5% to $215.1 million. Same-store sales remained flat.