Marketing

PITTSBURGH — Dick's Sporting Goods has raised its full year and second quarter outlooks after reporting substantial growth in sales and earnings for the first quarter. The company reported that net income for the quarter was $57.2 million, or 45 cents per diluted share, exceeding the company's earnings expectations provided on March 6 of 36 cents to 38 cents per diluted share. For the first quarter ended April 30, 2011, the company reported consolidated net income of $37.5 million, or 30 cents per diluted share.

London -- The British department store Selfridges received the “Best Department Store in the World” award at the Global Department Store Summit in Paris.

Selfridges took the top slot amongst finalists from around the globe, including Macy's and Woolworths (South Africa). The U.K. retailer also won the award, which is given out every two years, in 2010.

Pittsburgh -- Dick's Sporting Goods Inc. reported Tuesday that profit for the quarter ended April 28 surged 53% to $57.2 million, compared with $37.5 million for the year-ago period. The sporting goods retailer raised its earnings outlook for the year.

“For 2012, we are raising our full year guidance as we continue to invest in new stores and our e-commerce business, as well as our margin accelerators including inventory management, private brands, and product mix shift,” said Edward W. Stack, CEO.

FRAMINGHAM, Mass. — The TJX Companies reported that net sales for the first quarter of fiscal 2013 increased 11% to $5.8 billion and consolidated comparable-store sales increased 8%. Net income for the first quarter was $419 million and diluted earnings per share were 55 cents.

New York -- Liz Claiborne Inc. said Tuesday that it has officially changed its name to Fifth & Pacific Cos., following an initial announcement in January that it would do so.

The company sold the Liz Claiborne and Monet brands to J.C. Penney Co. in November, freeing it up to concentrate more fully on its Juicy Couture, Lucky Brand and Kate Spade labels.

New York -- Retail financial chiefs are increasingly optimistic about economic prospects over the next 12 months and plan to pivot toward expansion and adding jobs, according to a survey by American Express.

The fifth annual American Express/CFO Research Global Business & Spending Monitor, a survey of 541 senior finance executives from the United States, Europe, Canada, Latin America, Asia and Australia, revealed that investments in expanded operating capacity, research and development, and mergers and acquisitions are once again on the table.

Framingham, Mass. -- The TJX Cos. reported Tuesday that net income rose to $419 million for the quarter ended April 28. On an earnings per share basis, adjusted profit results showed a 41% increase over the prior year period.

Sales increased 11% to $5.8 billion and same-store sales climbed 8%.

Carol Meyrowitz, CEO of TJX Cos., said: “We saw significant increases in customer traffic across all divisions in the first quarter over last year, which we believe points to the strength of our values and our brand content.”

HOFFMAN ESTATES, Ill. — Sears Outlet stores will offer all past and present, uniformed service members 10% off anything in store on Armed Forces Day, May 19. All Active Duty, Reservist, National Guard, retirees and dependents from the Armed Forces (Army, Navy, Air Force, Marines, Coast Guard), Uniformed Law Enforcement and Fire/Rescue Personnel, are encouraged to visit one of the 120 Sears Outlet stores throughout the United States to redeem this exclusive offer.