Strategy

LITTLE ROCK, Ark. — Shortly after Nordstrom reported a 20% quarterly earnings gain, fellow luxury retailer Dillard's posted net income of $17.6 million, or 32 cents per share, compared with $6.8 million, or 10 cents per share, for the same period last year.

Same-store sales for the second quarter were up 6%. Net sales for the quarter were $1.44 billion compared with $1.4 billion last year.

Woodland Hills, Calif. -- Great American Group said Thursday it has been retained to manage the going-out-of-business sale of all Pierre Deux stores, a French furnishing retailer that operated across 13 states.

Pierre Deux ceased business operations and filed for Chapter 7 bankruptcy protection on June 23.

“The trustee has charged us with selling the company’s inventory in all of the stores,” said Scott Carpenter, executive VP and the head of the Retail Services Division for Great American Group.

Purchase, N.Y. -- A report released Thursday by MasterCard Advisors said that total retail sales in July sustained momentum despite inconsistencies in other areas of the economy.

According to MasterCard SpendingPulse, which tracks national retail and service sales, excluding auto sales retail sales in July 2011 grew by 8.7% year-over-year. 

Retail sales are on par with the average growth of the previous three months.

The retirement of veteran merchant John Westling was announced internally at Walmart last Friday, and in typical fashion his departure has created new opportunities for other executives as responsibilities are reallocated.

Walmart’s policy of prohibiting employees from accepting the smallest of gratuities has been in place for a long time and for good reason. Veterans of the company will tell you that early on it was a key driver of success because there was a time when the retail industry was rife with merchants who tended to make buying decisions that were in their best interest as opposed to those of customers.

Menomonee Falls, Wis. -- Kohl's Corp. reported Thursday that profit for the quarter ended July 30 rose 17% to $303 million, compared with $260 million in the year-ago period. The retailer cited tightened cost controls and success of store-label brands for the improved performance, and has raised its full-year guidance.

Kohl’s said it is on track to open an additional 31 stores this year, as well as remodel another 15 stores next month. The company opened nine and remodeled 85 stores in the first half of the year.

ST. JOHNS, Fla. — Just one week after opening a remodeled store in Apopka, Fla., Winn-Dixie has opened another reformatted store in St. Johns, making it the company's first overhauled location in the North Florida area.

The renovated Winn-Dixie features an expanded grocery department, as well as a deli serving restaurant-quality entrees and side dishes, the retailer said.

Dallas -- SRS Real Estate Partners announced Thursday it has hired Lenny Eterno as a senior associate in the South Florida office.

Eterno will be focusing on the Miami Beach and downtown Miami trade areas.

Prior to joining SRS, Eterno worked for SRS’ affiliate, Cypress AutoGroup, LLC, where he completed transactions throughout the southeast.