Strategy

City of Industry, Calif. -- Hot Topic reported Wednesday that its loss for the fiscal first quarter widened to $7.7 million, compared to a net loss of $1.8 million last year.

The first quarter results include $12.4 million of expenses for the implementation of the previously announced charges for strategic business changes and cost reduction plan.

Revenue dipped 0.8% to $161.3 million compared with $162.6 million for the first quarter last year. Same-store sales edged up 0.2%.

Check out recently posted Guest Commentary: "Gaining return on returns: A retail imperative;" "Is your checkout designed to sell?;" and "Balancing clutter, esthetics and customer flow."

Fort Worth, Texas -- New York City-based Centro Properties Group said that fashion accessory retailer Charming Charlie will open a new store in Fort Worth, Texas.

The new 8,878-sq.-ft. store will open at the Centro-owned Trinity Commons shopping center.
 

Columbia, S.C. -- Edens & Avant announced Wednesday the hiring of Kerry Cavanaugh as its new VP marketing.

With over a decade in global brand and product innovation management at Procter & Gamble, Cavanaugh will lead Edens & Avant in a new strategic marketing direction focused on brand building and consumer innovation in retail.

At Edens & Avant, Cavanaugh will oversee the corporate and center specific marketing of 124 retail properties located in urban markets up and down the east coast.

New York City -- A report released Thursday by the Real Estate Board of New York showed that some of New York City’s primary shopping corridors are seeing increases in asking rents for available retail space, while others are seeing rents plateau.

San Francisco -- Williams-Sonoma reported Thursday that net income for the quarter ended May 1 jumped 62% to $31.6 million, from $19.5 million a year earlier, topping company expectations.

Revenue rose 7.4% to $770.8 million, better than expected.

Same-store sales, which includes direct-to-consumer revenue, rose 9%. Same-store sales rose 3.1% at the namesake brand, 7.9% at Pottery Barn and a record 11% at Pottery Barn Kids.

New York City -- Big Lots has decided not to sell itself after bids from private equity firms came in below the company's expectations, according to The Wall Street Journal.

The chain reportedly had received interest from several buyout firms earlier this year, following which it decided to explore a sale. Two groups of private-equity firms — Bain Capital and TPG Capital, and Thomas H. Lee Partners and Advent International — had put in final bids, but they were below Big Lots expectations, the report said.

Secaucus, N.J. -- The Children's Place Retail Stores reported Thursday that profit for the quarter ended April 30 rose 4% to $29.1 million, compared with $27.9 million a year earlier. The retailer cited better product assortment, strong online sales and inventory-control efforts for the improved performance.

Children’s Place also increased the low end of its full-year earnings outlook range, but its 2011 and second-quarter forecasts missed Wall Street's expectations.

Kearney, Neb. -- The Buckle reported Thursday that net income for the first quarter rose to $33.5 million, compared with $30.1 million in the year-ago period.
 
Sales in the quarter ended April 30, 2011, increased 11.8% to $240.1 million. Same-store sales rose 8.1%. Online sales (which are not included in comparable store sales) increased 18.6% to $17.1 million.
 

Pleasanton, Calif. -- Ross Stores said Thursday that profit for the quarter ended April 30 surged 22% to $173 million, compared with $142.3 million a year earlier.

Sales increased 7% to $2.1 billion, and same-store sales rose 3% on top of a 10% gain in 2010.