Finance & Capital Management

Cincinnati -- Macy's Inc. reported a better-than-expected 38% increase in its first-quarter profit as the chain continues to benefit from its move to target its offerings to local markets. However, the retailer disappointed the Street by failing to up its guidance for the year.

Macy's said that its net income rose to $181 million for the three-month period ended April 28, up from $131 million a year ago.

Revenue increased 4.3% to $6.14 billion, from $5.89 billion a year ago. Same-store sales were up 4.4%.

SAN BERNARDINO, Calif. — Stater Bros. reported its second-quarter results for the period ended March 25.

The retailer's consolidated sales for the quarter rose nearly 2.7% to $937.7 million, compared with the year-ago period, while same-store sales also rose nearly 2.7%. Second-quarter net income totaled $16.4 million, compared with $9.3 million for second quarter of the prior year.

Union, N.J. -- Bed Bath & Beyond Inc. said that it has reached a definitive agreement to acquire Cost Plus in an all cash transaction. The deal is valued at some $495 million, according to Reuters.

Based in Oakland, Calif., Cost Plus currently operates 259 stores under the names World Market, Cost Plus World Market, Cost Plus Imports, and World Market Stores in 30 states.

Indianapolis -- Marsh Supermarkets said that Joe Kelley, chairman, president and CEO, has left the company to become president of Stop & Shop's New England division. Marsh named COO Bill Holsworth as interim CEO, effective immediately.

At Stop & Shop, Kelley succeeds Mark McGowan, who was promoted to executive VP supply chain, Ahold USA. Both appointments are effective May 21.
 

SALT LAKE CITY — Walmart and Sam's Club is offering customers and members the opportunity support the Children's Miracle Network. Now through June 15, Walmart customers and Sam's Club members can make a donation of any amount at the retailers' registers to support the Children's Miracle Network Hospital in their community.

Naperville, Ill. -- OfficeMax Inc. reported Tuesday that net income for the quarter ended March 31 slid to $4.9 million, compared with $11.4 million in the year-ago period. Results were hampered by charges related to U.S. store closures.

Total sales edged up 0.5% to $1.9 billion. In the retail segment, sales dipped 2.7% to $912.3 million; same-stores sales fell 2.1%.

Cary, N.C. -- C-store operator The Pantry said Tuesday that it lost $9.7 million in the second quarter, compared with a loss of $300,000 in the same period last year. Results were hurt by rising gas prices.

Same-store merchandise sales rose 4.8%
 

New York -- Shoppers in the United States earning at least $150,000 annually rank Nordstrom highest among luxury retailers, according to a survey by the Luxury Institute.

According to the 2012 Luxury Consumer Experience Index, which ranks retailers based on customers' evaluations of a brand's store personnel, shopping environment and degree of satisfaction with the total experience, Nordstrom earns the top overall score of 8.41 out of 10.

Bergdorf Goodman ranked second (8.37), and Barneys New York third (8.23).