Finance & Capital Management

Phoenix -- PetSmart reported Wednesday that net income for its second quarter rose 26% to $61.2 million, up from $48.4 million in the year-ago period.

Revenue increased 7% to $1.49 billion, matching Wall Street expectations.  Same-store sales grew 5%.
 

Look for a big number out of Walmart come early October when it discloses 2012 expansion plans for smaller formats in conjunction with the company’s fall analysts’ meeting. Here’s how you can tell. Reading between the lines on the company’s second quarter earnings call transcript Walmart U.S. president and CEO Bill Simon touted the fact that the return on investment for Neighborhood Market stores is now the same as Walmart supercenters. Recall, in the past the rationale for the slow expansion pace of the 40,000-sq.-ft.

City of Industry, Calif. -- Hot Topic reported Wednesday that it tightened its loss in the second quarter to $6.2 million, compared with a loss of $6.3 million a year earlier.

Revenue edged up to $150.9 million from $150 million. Same-store sales rose 2.6% for quarter.

Hot Topic said it will open 25 to 45 Torrid stores in fiscal 2012. It also plans to close 10 to 20 Hot Topic stores and about five Torrid stores next year, and remodel or relocate 40 to 50 Hot Topic stores and 10 to 20 Torrid stores.
 

New Albany, Ohio -- Abercrombie & Fitch Co. reported Wednesday that profit for the second-quarter rose 64% to $32 million, up from $19.5 million, on increased demand in the United States and Europe.

Revenue rose 23% to $916.8 million, as previously reported, and same-store sales increased 9%.

Detroit -- Marcus & Millichap Real Estate Investment Services said it has promoted Simon Jonna to the position of VP investments.

Jonna began his career with Marcus & Millichap in May 2005, specializing in the sale of retail properties. Most recently, he held the position of associate VP investments.
 

Chattanooga, Tenn. -- CBL & Associates Properties announced that Jimmy Neely and Kyle Capshaw have joined the company's leasing department.

Neely joins CBL as a senior leasing manager responsible for Hanes Mall in Winston Salem, N.C., and Randolph Mall in Asheboro, N.C. He previously held various positions with Colonial Property Trust of Birmingham, including leasing, development and peripheral property.

MINNEAPOLIS — Target reported second quarter earnings per share of $1.03 that beat analysts’ estimates by a nickel, and the company elevated its full year profit forecast amid ongoing success of key initiatives.

Retail sales increased 5.1% to $15.9 billion from $15.1 billion thanks to a 3.9% same-store sales increase and the addition of several new stores. Operating profit for the retail business increased at a slower rate, rising 4.6% to $1.147 billion from $1.096 billion.

Westborough, Mass. -- BJ's Wholesale Club reported Wednesday that net income for the quarter ended July 30 increased 28% to $45.7 million, compared with $35.7 million in the year-ago period.

The warehouse club operator said revenue rose 11% to $3.05 billion from $2.75 billion, beating an expected $2.98 billion. Revenue from membership fees increased to $51.8 million from $47.5 million, while net sales rose to $2.98 billion from $2.69 billion. Same-store sales rose 7.8%, including a 4% contribution from fuel sales.