Consumer Affairs & Relations

VERNON, Calif. — True Religion Apparel has announced that Lynne Koplin has been named president of the company effective immediately.

Koplin joined the company in January 2010 as COO. Prior to joining the company, and since July 2005, she was the president women’s division, of Tommy Bahama, a subsidiary of Oxford Industries, and before that worked for a number of apparel and retail companies.

BENTON HARBOR, Mich. — Whirlpool Corp. announced that Roy Templin, EVP and CFO, will retire from the company. As part of the planned transition, Templin will remain in his current capacity until April 2012 to complete Whirlpool's year-end reporting and other transitional items. At that time, Larry Venturelli – currently SVP corporate controller, chief accounting officer and CFO for Whirlpool International – will succeed Templin as EVP and CFO.

Jacksonville, Fla. -- Winn-Dixie Stores announced Thursday that it would convert all of its SaveRite-branded grocery stores to Winn-Dixie brands, discontinuing the SaveRite banner permanently.

“By aligning all 484 stores under one Winn-Dixie banner, we will be able to ensure a more consistent shopping experience for all of our guests – regardless of the type of neighborhood in which we operate,” said Peter Lynch, Winn-Dixie’s chairman, CEO, and president.

San Francisco -- Gap reported Thursday that profit for the quarter ended July 30 dropped 19% to $189 million, compared with $234 million in the year-ago period.

The retailer, which operates the Gap, Old Navy and Banana Republic banners, cited aggressive merchandise pricing reductions for the profit decline. Results beat analysts’ earnings expectations, but the declines still raised concerns about Gap’s performance in the upcoming fall and holiday shopping seasons.

There was a lot of talk about the favorable membership trends Sam’s Club experienced during the second quarter, thanks to membership and other income that increased 2.5% to $728 million. That prompted Wal-Mart Stores Inc., president and CEO Mike Duke to include Sam’s Club among the list of positive developments he called out regarding the company’s second quarter performance.

“I am also pleased with the momentum in membership income, as Sam’s improves its renewals and upgrades,” Duke said.

Walmart beat analysts’ second quarter earnings estimates by a penny when it reported earnings per share of $1.09. The company also touted the fact that it was raising its full year profit forecast, although it did so by the one cent of additional profit it had already banked during the second quarter. Walmart said it now expects full year profits to total between $4.41 and $4.51 versus prior guidance of $4.35 to $4.50.

Minneapolis -- Target Corp. reported Wednesday that earnings for the second quarter rose 3.7%, boosted by same-store sales growth and beating Wall Street expectations.

The retailer posted a profit of $704 million for the quarter ended July 30, compared with $679 million in the year-ago period. Revenue rose 4.6% to $16.24 billion, besting analysts’ expected $16.17 billion. Same-store sales rose 3.9%.

NEW YORK — Saks Inc. reported a second-quarter net loss of $8.4 million, or 5 cents per diluted share. For last year’s second quarter, the company posted a net loss of $32.2 million, or 21 cents per share. 

Revenue rose 13% to $670.2 million from $593.1 million, beating Wall Street's $657.4 million. Same-store sales surged 15.5%, surpassing Saks' expectations.

Framingham, Mass. -- TJX Cos. reported Tuesday that net income for the second quarter rose 14% to $348 million, compared with $305 million in the year-ago period.

The parent of TJ Maxx and other discount concepts saw revenue climb 8% in the quarter, to $5.47 billion, topping analysts' estimated $5.44 billion.