Finance & Capital Management

PITTSBURGH — The combination of new store growth, a 2.5% same-store sales increase and expanding gross margins enabled Dick’s Sporting Good to produce earnings per share of 52 cents and exceed analysts’ estimates by two cents. However, a cautious outlook regarding the future caused the company’s third quarter profit forecast to be two cents less than analysts forecast, and same-store sales were projected to grow in the low single digits.

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.

PHILADELPHIA — Urban Outfitters, which caters to a clientele with a unique and forward-looking approach to fashion and lifestyle merchandise, missed the mark during the second quarter, reporting a 21% profit decline and a same-store sales slip of 2%.

The company reported that earnings for the quarter were $56.7 million compared $71.7 million a year earlier. The company blamed increased expenses related to investments in e-commerce, retail catalogs and technology for the performance slip.

ALBUQUERQUE, N.M. — Kroger announced that two of its Smith's stores in Albuquerque, N.M., have installed photovoltaic energy panels.

The solar energy system on the roof of each Smith's store consists of 442 panels, each containing cells that convert sunlight into direct current electricity, Kroger said. Smith's was selected to be among the first Kroger division stores to install photovoltaic panels.

New York City -- Nordstrom announced Monday that its new Treasure&Bond concept will open in SoHo on Friday, according to a report by the New York Times. The boutique-style store, which represents a new market entry for Nordstrom, will be a fraction of the size of a typical Nordstrom department store and all profits will be donated to charity. Merchandise is funkier, but is not discount like its Nordstrom Rack sister. 

Pittsburgh -- Dick's Sporting Goods reported Tuesday that net income for the quarter ended July 30 rose 43% to $73.8 million, compared with $51.5 million in the year-ago period.

Revenue rose 7% to $1.31 billion from $1.23 billion. Same-store sales increased 2.5%.
 

Albuquerque, N.M. -- Kroger Co. said Tuesday that its Smith's Food & Drug Stores division has completed the installation of photovoltaic energy panels at two Albuquerque, N.M. stores.

The solar energy output from these two store systems is 320,000 kWh, eliminating the need for that amount of energy from fossil fuel sources. It is estimated this energy savings would heat and cool 30 homes in New Mexico for one year; is the equivalent of planting 57 acres of trees; or removing 40 cars from the road.

Fort Worth, Texas -- RadioShack Corp. said Monday it has appointed Dorvin D. Lively as executive VP, CFO and chief administrative officer, effective immediately.

Lively joins RadioShack from Ace Hardware Corp., where he was most recently executive VP and CFO.
 

Atlanta -- Home Depot reported Tuesday that its second-quarter net income soared 14% to $1.36 billion, compared with $1.19 billion in the year-ago period. The home-improvement retailer cited an uptick in storm-related repairs and lawn supplies for the improved performance.

Revenue rose 4% to $20.23 billion, topping Wall Street’s expected $19.97 billion. Same-store sales rose 4.3% globally and 3.5% in the United States.

New York City -- Saks reported Tuesday that it has tightened its losses in the quarter ended July 30, posting a loss of $8.4 million compared with a loss of $32.2 million in the year earlier period.

The luxury retailer cited increased full-price selling for the improvement, but warned Wall Street that it was heading into the fall selling season with caution because of the uncertain economic conditions.