Finance & Capital Management

Recent turmoil in the stock market hasn’t dimmed Best Buy’s outlook for the third quarter while the release of better than expected second quarter results has validated the company’s strategy, according to CEO Hubert Joly.

Strength in categories such as major appliances, large screen televisions and mobile phones, offset by weak tablet sales, helped Best Buy achieve a 2.7% domestic same store sales increase and pushed revenues up 3.9% to $7.9 billion during the second quarter ended August 1. Online comparable sales increased 17%.

Minneapolis – For the second quarter in a row, Best Buy Co. Inc. beat Wall Street expectations for profit and revenue with large-screen TVs and mobile phones providing a major boost to its results.

Best Buy reported net income of $164 million in the second quarter of fiscal 2016, up 12% from $146 million the same period the previous fiscal year.

Chicago -- The nation’s finance chiefs have a lot on their minds these days, from uncertainty in the U.S. economy to cybersecurity to regulatory and compliance issues. Another big concern: Congressional dysfunction around tax reform.

 Specialty apparel retailer The Children’s Place Inc. saw its net loss grow and net sales drop in a difficult second quarter of fiscal 2015.

DSW says its investments in becoming a more “customer-centric” company are paying off, as the retailer reported sales and earnings growth in the second quarter.

Secaucus, N.J. – Specialty apparel retailer The Children’s Place Inc. saw its net loss grow and net sales drop in a difficult second quarter of fiscal 2015.

Net loss increased to $13.7 million, from $10.7 million in the same quarter a year earlier.

Higher selling, general and administrative (SG&A) expenses, as well as several non-recurring items including legal fees, impairment charges and restructuring costs, helped push The Children’s Place further into the red.

New York -- Consumers didn’t let the heat get them down in August.

Consumer confidence rebounded in August, rising 10. 5 points to the strongest reading in seven months after having fallen sharply in July.

The Conference Board said Tuesday that its index of consumer confidence rose to 101.5 in August, up from a revised July reading of 91.0. It was the best showing since January.

Target Corp. has agreed to pay $2.8 million to resolve a hiring discrimination claim filed by the U.S. Equal Employment Opportunity Commission.