Strategy

Chesapeake, Va. -- Dollar Tree Inc. reported Thursday that profit for the quarter ended July 28 soared 26% to $119.2 million, compared with $94.9 million in the year-ago period.

Sales rose 10.5% to $1.7 billion, just missing Wall Street’s expected $1.71 billion. Same-store sales grew 4.5%.

However, the company’s outlook fell short of Wall Street expectations, saying that it expects revenue between $1.71 billion and $1.75 billion in the third quarter while Wall Street expects $1.77 billion.
 

PURCHASE, N.Y. — The president of PepsiCo's Western Europe business has been given a new role.

WAYNE, N.J. — Toys“R”U opened its first stores in Beijing this weekend, marking its continued expansion across China. 

Phoenix -- PetSmart reported Wednesday that net income for the second quarter surged 31% to $79 million, from $61 million in the year-ago period.

Sales advanced 9% to $1.6 billion, and same-store sales grew 7.0%.

“Our performance in the second quarter was due to strength across all three merchandising categories, as well as across services,” said Bob Moran, chairman and CEO.
 

New York -- A Wednesday report by the Wall Street Journal said that big retailers such as Wal-Mart Stores, Target Corp. and 7-Eleven are planning to develop a mobile payment network much like the Starbucks Square initiative that was announced last week.

HERSHEY, Pa. and SAN FRANCISCO — The Hershey Company recently partnered with the Academy of Art University in San Francisco, Calif. to provide students with a hands-on package-design opportunity. Students were asked to create a customized heart box design for Hershey's Pot of Gold chocolates to help give the collection a contemporary, fresh look for the 2013 Valentine's Day season.

Rock Hill Galleria has unveiled plans for a number of large-scale developments slated for the 470,000-sq.-ft. regional mall. 

Entertainment destination Revolutions will open a 66,640-sq.-ft. location at Rock Hill Galleria, featuring 30 state-of-the-art bowling lanes, a lazer maze and arena, bumper cars, arcade, restaurant and bar, sports theatre, plus live music and dancing. Opening is anticipated for winter 2012.

CORTE MADERA, Calif. — Home furnishings retailer Restoration Hardware is reorganizing its leadership team to better align with the company's new strategy to develop new lines of business including apparel, accessories, footwear and jewelry while maintaining existing home business.