Strategy

PHOENIX — While consumers may be cutting back, it appears most don't feel buying items for their pets falls into the category of discretionary spending. Just look at  PetSmart, which reported that earnings per share soared 32% to 54 cents for the second quarter, compared with earnings per share of 41 cents for the same period last year. Net income totaled $61 million in the second quarter of 2011, compared to $48 million in the second quarter of 2010.

PLEASANTON, Calif. — Ross Stores continues to deliver impressive earnings results, reporting net income of $148.3 million, or $1.28 per share for the second quarter ended July 30, compared with net income of $129.3 million, or $1.07 per share, for the same period last year. 

The company reported that sales for the quarter increased 9% to $2.089 billion, with comparable-store sales up 5% on top of a 4% gain in 2010.

Pleasanton, Calif. -- Ross Stores reported Thursday that profit for the quarter ended July 31 rose 15% to $148.3 million, compared with $129.3 million a year earlier.

Sales for the quarter increased 9% to $2.1 billion, and same-store sales rose 5%.

“Our ability to increase the percentage of fresh name brand bargains our customers see, while also strictly controlling inventories and expenses, has enabled us to capitalize on our favorable position as a value retailer," said Michael Balmuth, vice chairman and CEO.
 

Columbus, Ohio -- Limited Brands reported Wednesday that net income for the second quarter rose a better-than-expected 29% to $231.2 million, compared with $178.7 million in the year-ago period. 

It cited strong full-price sales at Victoria’s Secret and Bath and Body Works for the strong showing.

Revenue rose 10% to $2.46 billion, matching Wall Street expectations. Same-store sales rose 9%.

Look for a big number out of Walmart come early October when it discloses 2012 expansion plans for smaller formats in conjunction with the company’s fall analysts’ meeting. Here’s how you can tell. Reading between the lines on the company’s second quarter earnings call transcript Walmart U.S. president and CEO Bill Simon touted the fact that the return on investment for Neighborhood Market stores is now the same as Walmart supercenters. Recall, in the past the rationale for the slow expansion pace of the 40,000-sq.-ft.

SECAUCUS, N.J. — The Children's Place Retail Stores announced second quarter net sales were $343.5 million, compared with $345.3 million in the second quarter of 2010. Comparable-retail sales declined 5.6% in the second quarter of 2011.

Chattanooga, Tenn. -- CBL & Associates Properties announced that Jimmy Neely and Kyle Capshaw have joined the company's leasing department.

Neely joins CBL as a senior leasing manager responsible for Hanes Mall in Winston Salem, N.C., and Randolph Mall in Asheboro, N.C. He previously held various positions with Colonial Property Trust of Birmingham, including leasing, development and peripheral property.