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Strategy

  • Gap Q1 profit beats Street

    San Francisco -- Gap Inc. said Thursday that profit for the quarter ended April 28 was flat compared with the year-ago period, but its results beat Wall Street forecasts and prompted the retailer to raise its outlook for the year.

    Gap reported a profit of $233 million for the first quarter. Revenue rose 6% to $3.49 billion, beating analysts’ estimated $3.46 billion in revenue, and same-store sales rose 4%.

  • Sears Holdings swings to profit in Q1, to spin off minority stake in Sears Canada

    Hoffman Estates, Ill. -- Sears Holdings Corp. reported Thursday that it generated a profit of $189 million for the quarter ended April 28, after losing $170 million in the same period last year. The improvement was due largely to a $233-million gain from selling off some of its stores.

  • Foot Locker names COO

    New York -- Foot Locker Inc. said Thursday that current executive VP and retail group president Richard Johnson as been promoted to COO, giving the company veteran operational oversight of all the retailer’s banners. The appointment is effective immediately.

    Along with its namesake Foot Locker stores, the company also operates Champs Sports, Kids Foot Locker and CCS.
     

  • Sears swings to profit in first quarter, pursues partial spinoff off of Sears Canada

    HOFFMAN ESTATES, Ill. — Sears Holdings posted net income of $189 million in the quarter, compared with a loss of $165 million in the prior-year period.

    After several rounds of closings of Kmart and Sears full-line stores in the past months, revenues decreased $270 million to $9.3 billion for the quarter ended April 28. Domestic comp-store sales declined 1.3% -- 1.0% at Sears Domestic and 1.6% at Kmart. Sears also saw declines in its home appliances and consumer electronics categories.

  • Stein Mart profit dips in Q1

    Jacksonville, Fla. -- Stein Mart said Thursday that net income for the quarter ended April 28 slid 26% to $11.8 million, compared with $15.9 million in the same period last year.

    Revenue was basically flat at $303.4 million, missing Wall Street’s expected $303.9 million in revenue, and same-store sales dipped 0.4%.

    The company said it expects to open four new stores, relocate four stores and close four stores during the second half of 2012.
     

  • Walgreens' social media director heads to Campbell's

    CAMDEN, N.J. — Campbell's has tapped Walgreens' social media director to lead the soup maker's digital marketing and social media efforts.

  • Aeropostale profit down 65%

    New York -- Aeropostale said Thursday that net income for the first quarter narrowed to $10.6 million, from $16.4 million in the same period last year.

    Sales for the quarter ended April 28 rose 6% to $497.2 million, from $469.2 million, and same-store sales edged up 2% on the strength of its online performance. Without e-commerce results, same-store sales for the quarter were flat.
     

  • Ross profit rises 21% in Q1, increases long-term store growth outlook

    Pleasanton, Calif. -- Ross Stores reported Thursday that net income for the first quarter surged 21% to $208.6 million, from $173 million in the same period last year.

    Sales increased 14% to $2.4 billion, and same-store sales rose 9%.

    “We believe that favorable weather across many of our markets also contributed to our above-plan performance," said Michael Balmuth, CEO, about the results.

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