Marketing

NEW YORK — Despite a significant decrease in net income, Saks delivered sales growth as it continues to improve its operating performance. Saks Inc. reported net income for the third quarter of $17.8 million, or 11 cents per diluted share, compared with net income of $36.3 million, or 20 cents per diluted share. 

Framingham, Mass. -- TJX Cos. reported Tuesday that profit for the quarter ended Oct. 29 rose 15% to $406.5 million, from $372.3 million a year earlier.

Sales increased 5% to $5.79 billion from $5.53 billion, but missed analysts’ expected $5.84 billion. Same-store sales rose 3%.

During the quarter, the retailer increased its store count by a net of 52 stores and increased square footage by 1% over the same period last year.
 

NEW YORK — Macy's announced that it will debut Ideology, a new brand of activewear, this spring. Cheryl Burke, renowned professional dancer and two-time winner of Dancing with the Stars, will serve as the face of the new brand.

Framingham, Mass. -- Staples Inc. reported Tuesday that profit for the third quarter climbed 13% to $326.4 million, from $288.7 million a year earlier. Earnings met Wall Street expectations.

Revenue rose 1% to $6.57 billion from $6.54 billion, missing analysts’ expected $6.71 billion. North American retail unit revenue was flat at $2.7 billion, with same-store sales down 1%. International revenue slid 7% on a local currency basis to $1.3 billion, leading the retailer to adjust its full-year forecast downward.

BENTONVILLE, Ark. — Walmart delivered a long awaited same-store sales increase of 1.3% at its U.S. stores division in the third quarter and pointed to ongoing momentum for the holidays with comps guidance in the range of flat to up 2%.

Milwaukee -- Bon-Ton Stores Inc. said Monday that its CEO Bud Bergren will retire his position once the company finds and hires his successor.

When a new CEO is in place, Bergren will transition to chairman; current executive chairman Tim Grumbacher will vacate the chair but remain a director. Bergren has been CEO since 2004.

The succession plans comes on the heels of same-store sales dips in October and a downwardly modified outlook for the year.
 

Atlanta -- Home Depot Inc. reported Tuesday that net income in the third quarter rose 12% to $934 million, compared with $834 million in the year-ago period. Storm-related repairs and spending on home projects gave the home-improvement retailer a third-quarter boost.

Revenue rose 4% to $17.33 billion from $16.6 billion last year, beating Wall Street’s expected $17.11 billion in revenue.

Same-store sales rose 4.2% globally and 3.8% in the United States.

ATLANTA — Stormy weather around the country had something to do with Home Depot's third quarter sales gain of 2.9%. So did strength in core categories.

The world's largest home improvement retailer posted a 4.2% comp-store sales gain for the quarter ended Oct. 30. Total sales increased 2.9% to $17.326 billion. And even bigger growth came in the net earnings column, where Home Depot reported a 13.0% increase and net earnings of $934 million.