Finance & Capital Management

It may be the right thing to do long-term, but Walmart’s plans to slow growth in China, Mexico and Brazil didn’t sit well with investors this week.

The revelation that Walmart would add between 21 and 23 million square feet of space versus the previously planned addition of 30 to 33 million square feet will result in Walmart International spending between $4.6 billion and $5 billion compared to a previously budgeted amount of $5 billion to $5.5 billion.

New York -- Body Central announced Friday that Thomas W. Stoltz has been promoted to COO and named interim CEO.

Stoltz has served as the company's executive VP and CFO since September 2011 and replaces B. Allen Weinstein, the company's former CEO who retired effective Aug. 16.

Stoltz will also continue to serve as Body Central's CFO.

Canton, Mass. -- Casual Male Retail Group said Friday that second-quarter profit dropped to $1.2 million, from $6.6 million in the year-ago period. Total sales were flat at $100.5 million, and same-store sales edged up 2%.

However, continuing strength from the DestinationXL stores vs. the Casual Male XL locations is prompting the company to focus on growing the former.

Birmingham, Ala. -- Hibbett Sports reported Friday that net income for the quarter ended July 28 surged 32.9% to $7.9 million from $5.9 million in the comparable-year period.

The retailer reported a net sales increase of 8% to $165.4 million compared with $153.1 million for the same period last year. Same-store sales increased 4.8%.

The company increased its earnings guidance for fiscal 2013 and said it is on track to open 55 to 60 new stores, expand approximately 15 high performing stores and close up to 18 underperforming stores.

Casual Male accelerated the rollout of its DestinationXL format.

Kearney, Neb. -- The Buckle reported Thursday that net income for the period ended July 28 dipped 2% to $23.2 million, compared with $23.6 million in the year-ago period, but matching forecasts.
 
Net sales rose 2% to $215.5 million, just missing Wall Street’s expected $215.9 million in revenue. Same-store sales dipped 0.8%.

Things are looking up for Sears Holdings. The company only lost $132 million during its second quarter.

Wayne, N.J. – Toys “R” Us opened its first stores in Beijing last weekend, marking its continued expansion across China.