Content about Retail Executive Finance News

May 22, 2013
American Eagle Q1 profit down but tops Street; to build new DC

American Eagle Outfitters Inc. earned $28 million in its first quarter, down from $39.7 million in the same quarter last year, as cooler weather hurt demand for its spring fashions and some special charges cut into its results.

May 22, 2013
Lowe's Q1 sales fall

Cool weather affected sales at Lowe's for the first quarter ended May 3.

May 22, 2013
Sears Canada posts loss; names CFO

Sears Canada reported a net loss in its first quarter of C$31.2 million ($30.3 million) compared with a net profit of C$93.1 million, a year earlier amid weakened demand for major appliances and home products.

May 22, 2013
Staples disappoints as Q1 profit falls 9.2%

Staples reported that its first-quarter profit was $169.9 million, down from $187.1 million in the year-ago period, hurt by a stronger dollar and weak same-store sales in North America and Europe.

May 22, 2013
Target Q1 profit plunges 29%; lowers full-year outlook

Target Corp. reported a 26% drop in its first-quarter profit as unseasonably cool weather, the payroll tax increase and other economic pressures took a toll on sales.

May 21, 2013
Best Buy reports net loss

Best Buy reported a net loss of almost 10% for first quarter fiscal 2014, seeing its revenue drop from roughly $10.34 billion the prior year to $9.38 billion.

May 21, 2013
Dick’s Sporting Goods revenues rise; not to Street expectations

Although Dick’s Sporting Goods reported a year-over-year increase in revenues for first quarter 2013, performance still fell short of Wall Street expectations.

May 21, 2013
Home Depot sales, earnings rise

The Home Depot reported sales of $19.1 billion during first quarter fiscal 2013, a 7% increase from $17.8 billion in the same quarter of 2012.

May 21, 2013
Net sales drive Urban Outfitters earnings

Urban Outfitters, Inc. reported stronger than expected net sales, which drove a 39% increase in net earnings.

May 21, 2013
NRF opposes swipe fee settlement

The National Retail Federation (NRF) is formally opposing the proposed settlement of a federal antitrust lawsuit brought by 19 trade associations and six retailers in 2005.

May 21, 2013
Saks Q1 sales increase, net income drops

Saks Incorporated reported a roughly 5% increase in total sales between first quarter 2012 and first quarter 2013, although net income dropped during that same time period.

May 21, 2013
TJX net sales increase

The TJX Companies, Inc. reported increased net sales during first quarter fiscal 2014.

May 17, 2013
Nordstrom Q1 profit and sales disappoint

Nordstrom Inc. reported its first quarter net income fell a greater-than-expected 3%, hurt by weak demand for spring merchandise and softer performance in the Northeast and Midwest.

May 17, 2013
Stages Stores Q1 loss widens

Stage Stores reported a loss of $6.9 million for the first quarter, compared with a loss of $418,000 for the year-ago period, as the retailer dealt with cool weather that put a damper on sales of spring apparel.

May 16, 2013
Deloitte: Stable economic fundamentals keep consumer spending outlook on track

The Deloitte Consumer Spending Index (Index) dipped slightly in April, primarily due to an increase in the tax rate, while other economic fundamentals remain steady.

May 16, 2013
Kohl’s Q1 profit falls 5% but beats Street

Kohl's Corp. reported a 5% drop in first-quarter profit on weak sales fell due to unseasonably cold weather in large parts of the United States.

May 16, 2013
Wal-Mart’s Q1 sales, profit disappoints; issues tepid Q2 outlook

Wal-Mart Stores on Thursday reported profit and sales that were just below Wall Street expectations as the giant retailer struggled with a number of issues that impacted its U.S. sales, from the payroll tax increase to an unseasonably cold spring to delayed tax returns.

May 15, 2013
Macy’s Q1 profit up 20%

Macy’s reported increases in sales and income for the first quarter of 2013 compared to the same period a year earlier, despite cool weather that delayed spring shopping in key markets.

May 15, 2013
Safeway stockholders approve BOD recommendations

Preliminary results from the Safeway annual stockholder’s meeting show that a majority of stockholders followed board of directors recommendations in electing each of the eight directors with a majority of at least 73%.

May 14, 2013
Cache loss widens in Q1

Cache reported a loss of $18.5 million for the first quarter, widened from a loss of $1.2 million in the same quarter last year.

May 14, 2013
New York City second to Hong Kong in world’s highest retail rents

CBRE Group released research findings on Tuesday that showed Hong Kong continued to keep its top spot as the world's most expensive global retail market, recording prime rents nearly 150% higher than New York City.

May 14, 2013
Report: J.C. Penney stores, real estate worth $4.06 billion

A report by Reuters said that J.C. Penney Co.’s real estate holdings – including stores, DCs and headquarters – are worth a total of $4.06 billion.

May 13, 2013
Mass affluent, Gen Y defer spending for retirement

In what could be bad news for retailers, “mass affluent” consumers (those with $50,000 to $250,000 in investable assets) and Gen Y (age 18-34) are cutting back on spending to save for retirement.

May 13, 2013
Retail sales beat expectations to edge up 0.1% in April

Total retail sales increased 0.1% in April from March, according to figures released Monday by the U.S. Commerce Department.

May 10, 2013
Canadian youth set for more spending power

Continuing income growth means today’s Canadian youth will assume more spending power than their parents currently have during the course of their lifetimes, according to a new report from BMO Economics.

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