Strategy

IRVING, Texas — Michaels Stores has recognized 12 vendor partners for their contributions to Michaels' success over the past year.

The addition of new stores and a 3.8% same-store sales increase enabled Dick’s Sporting Goods to report record second-quarter results, so long as a botched investment in a leading U.K retailer is excluded.

Sale for the quarter ended July 28 increased 10% to $1.4 billion due primarily to a 3.8% comps increase combined with the addition of four new stores. The 3.8% increase consisted of a 2.9% increase at Dick’s Sporting Goods stores, a 4.4% increase at Dick’s Golf Galaxy stores and a 34.6% increase in the company’s e-commerce business.

NEW YORK — Saks Inc. recorded a net loss of $12.3 million, or 8 cents per diluted share, for its second quarter. For the prior year second quarter, the company recorded a net loss of $8.4 million, or 5 cents per diluted share.

FRAMINGHAM, Mass. — TJX reported that net sales for the second quarter of fiscal 2013 increased 9% to $5.9 billion and consolidated comparable-store sales increased 7%. Net income for the second quarter was $421 million and diluted earnings per share were 56 cents, a 24% increase over 45 cents per share last year.

NEW YORK — American designer, Narciso Rodriguez, will begin an advisory role on Aug. 20 with Banana Republic in partnership with its EVP design and creative director, Simon Kneen, beginning with the fall 2013 collection. In an effort to build upon the strengths of the brand, Banana Republic has created this advisory role specifically for Rodriguez.

Home Depot Tuesday reported sales of $20.6 billion for the second quarter of 2012, a 1.7% increase from the second quarter of fiscal 2011. Comparable sales for U.S. stores were positive 2.6%, and overall same-store sales for the second quarter were positive 2.1%.

Net earnings for the world’s largest home improvement retailer were $1.53 billion for the second quarter, which ended July 29. This compares with net earnings of $1.36 billion in the same period a year ago, reflecting a 12.4% increase.

Glenwillow, Ohio -- Fashion retailer Dots announced Tuesday it has named former Wal-Mart Stores senior VP Lisa Rhodes as its new CEO.
   
Rhodes, who led Wal-Mart’s U.S. apparel merchandising division, has been charged with leading Dots’ march toward 1,000 stores, also announced Tuesday.
    
Prior to her role at Wal-Mart, Rhodes was executive VP and chief merchandising officer for Maurice’s.
   

New York City -- The New York Post reported Tuesday that Sears Holdings Corp. may be mulling over a sale of its Lands End unit. The move would dovetail with the massive restructuring effort the company has launched.

According to the report, chairman Eddie Lampert has been meeting with investors to discuss the divestiture of Lands End.
 

Dallas -- 7-Eleven said Tuesday it will acquire the retail and wholesale assets of San Antonio-based TETCO, which includes company-operated convenience stores in Utah and the Dallas-Fort Worth, Austin and San Antonio areas of Texas.
Terms of the deal were not disclosed, and closing is expected in November. The acquisition also signals a return to San Antonio for 7-Eleven, where the company had operated stores until 1989.

Purchase, N.Y. -- A SpendingPulse report Tuesday by MasterCard Advisors, in partnership with Wells Fargo, found that July spending at small retailers slowed to 6% year over year. 

This was lower than June’s small retailer growth rate of 8%. The July report also found that with or without food service and gasoline sales, July’s small business growth was the lowest for the past 12 months.