Strategy

PITTSBURGH — Although Dick’s Sporting Goods reported a year-over-year increase in revenues for first quarter 2013, performance still fell short of Wall Street expectations.

The sporting goods retailer reported first quarter revenues of $1.33 billion, a 4% increase from $1.28 billion. However, analysts expected revenues for the quarter to total $1.36 billion.

Net income grew 13%, from $57.2 million to $64.8 million.

MINNEAPOLIS — Store closures and a shift in this year’s Super Bowl affected Best Buy’s results for the 13-week period ended May 4. 

Atlanta – The Home Depot reported sales of $19.1 billion during first quarter fiscal 2013, a 7% increase from $17.8 billion in the same quarter of 2012. Home Depot credited $574 million of this $1.3 billion increase to the addition of an extra week to the first quarter of this year. Net earnings rose 20%, from $1 billion to $1.2 billion.

SEATTLE — Starbucks subsidiary Seattle’s Best Coffee opened 10 new drive-through windows at restaurants throughout the Dallas/Fort Worth area.

Items available for drive-through purchase include 12 combo specials priced $5 or less.

Cincinnatti -- Macy’s plans to close a store located in downtown St. Louis at the Railway Exchange Building on Olive Street, with a final clearance sale beginning Sunday, June 2 that is expected to last about 10 weeks. Macy’s plans to continue operating its other eight stores in the Greater St. Louis area.

CINCINNATI — Procter & Gamble has filed a lawsuit in the Southern District of Ohio against CAO Group, a manufacturer and distributor of dental products. The lawsuit alleges that CAO Group is violating P&G's intellectual property by manufacturing and selling its “Sheer White,” “Sheer FluorX” and “Sheer DesenZ” products.

P&G is suing CAO Group in order to protect its investment in its technology and its Crest Whitestrips business.

NEW YORK — Target is the latest retailer heading to the Silicon Valley to develop its omnichannel business.

The mass merchandise retailer announced the opening of a new office in San Francisco that will allow it to work with technology companies in the area to create new digital and mobile shopping programs.

Yahoo CEO Marissa Mayer has announced on her personal Tumblr blog the company’s plans to acquire the social blogging site for $1.1 billion. It is Mayer’s largest deal to date since becoming head of the multinational Internet corporation.