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.

BENTONVILLE, Ark. — Despite the absence of top line growth at Walmart’s U.S. stores division, second quarter earnings grew 12.4% to $1.09 and came in a penny ahead of analysts’ estimates, which was enough for the company to narrow and increase the range of its full year profit forecast.

Bentonville, Ark. -- Wal-Mart Stores reported Tuesday that profit for the quarter ended July 31 rose to $3.8 billion, up from $3.6 billion in the year-ago period. Overall revenue, up 5.4% to $109.37 billion, topped Wall Street’s expectations.

Yet, the world’s largest retailer is feeling the pinch from a tight economy that is slow to loosen. Wal-Mart U.S., the company's biggest unit, posted a 0.9% drop in same-store sales, the ninth consecutive quarterly drop and beneath analysts' estimates for a 0.6% fall.

Framingham, Mass. -- TJX Cos. reported Tuesday that net income for the second quarter rose 14% to $348 million, compared with $305 million in the year-ago period.

The parent of TJ Maxx and other discount concepts saw revenue climb 8% in the quarter, to $5.47 billion, topping analysts' estimated $5.44 billion.
 

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.
 

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.

Mountain View, Calif. -- A Monday report by the Associated Press said that Google is acquiring cell phone maker Motorola Mobility Holdings for $12.5 billion in cash, a transaction that is Google’s biggest to date.

Google’s Android operating system runs smartphones that compete with iPhones, BlackBerrys and Windows-based mobile devices. Motorola Mobility was separated from the rest of Motorola in January, and has re-emerged as a maker of Android-based smartphones.

IRVING, Texas  — Michaels Stores and procurement management firm announced on Friday a five-year agreement under which LogicSource will provide print procurement and related services to Michaels.

More than $250 million of print and promotional spend will be covered over the life of the contract.

Prior to beginning the relationship, LogicSource conducted a strategic analysis of Michaels’s print production ecosystem, from creative through to distribution, and developed a program designed for cost savings and operational enhancements.