Corporate Governance

Framingham, Mass. -- TJX Cos. reported Tuesday that net income for the quarter ended July 28 soared 20.9% to $421.1 million, up from $348.3 million and marking the discounter’s third consecutive quarter of rising profits.

Revenues beat projections by climbing 8.7% to $5.95 billion.

The owner of the Marshalls and T.J. Maxx chains raised its full-year profit forecast.

Atlanta -- The Home Depot reported Tuesday that profit for the second quarter rose to $1.5 billion from $1.4 billion in the same quarter last year.

Sales edged up 1.7% to $20.6 billion, and same-store sales climbed 2.1% overall and 2.6% in the U.S.

"As expected, second-quarter sales reflected the pull forward of seasonal activity into the first quarter," said Frank Blake, Home Depot chairman and CEO. "But we saw continued demand for core products and delivered second-quarter earnings above our expectations."

New York -- A report released Tuesday by Capital Business Credit found that, overall, importers and manufacturers who sell to America's major retailers are preparing for a surprisingly stronger winter shopping season than expected.

According to the quarterly "Global Retail Manufacturers and Importers Survey," 77% of importers of retail goods believe the fall/winter season will be the same or stronger than last year.

Washington, D.C. -- Import cargo volume at the nation’s major retail container ports is expected to increase 6.3% in August, compared with the same month last year, and 2012 should show an increase of 4.8% over last year, according to the monthly Global Port Tracker report released Monday by the National Retail Federation and Hackett Associates.

Network television is rife with talent shows, and now Whole Foods has jumped on the bandwagon with a unique brand engagement initiative.

CITY OF COMMERCE, Calif. — 99 Cents Only Stores is celebrating its 30th anniversary.

Since its founding in 1982, the chain has expanded to 302 extreme value stores in four states consisting of 220 stores in California, 37 in Texas, 29 in Arizona, and 15 in Nevada. As part of the celebration, the company is converting 40 semi-trucks from diesel to clean-burning compressed natural gas. Additionally, the company is offering a free reusable shopping bag to customers who visit the store this weekend and purchase at least $9.99 worth of merchandise.

HOUSTON — Stage Stores has signed an agreement with Alliance Data Retail Services, making it the provider of a full suite of private label credit card services geared toward driving sales and brand loyalty to grow Stage Stores’ customer base. In addition, Alliance Data and Stage Stores will collaborate to develop and launch a new, simplified loyalty program, with enhanced benefits and incentives exclusive to cardholders.

RESTON, Va. — U.S. online retail recorded its eleventh consecutive quarter of positive year-over-year growth and seventh consecutive quarter of double-digit growth, according to ComScore.

U.S. online retail spending reached $43.2 billion for the second quarter, up 15% over a year ago, according to ComScore.

MODESTO, Calif. — Save Mart Supermarkets announced that all of its banners — including Save Mart, S-Mart Foods, Lucky, FoodMaxx and Maxx Value Foods stores — will be raising funds for children's hospitals in California and Nevada.

PLANO, Texas — PepsiCo's Frito-Lay North America has launched of a gluten-free recipe section on its corporate website (www.fritolay.com) to help make snacking easier and more enjoyable for consumers with Celiac Disease or gluten sensitivities. The new recipe section on the company's website now features gluten free recipes that can be paired or made with Frito-Lay's gluten free snacks, such as Lay's Classic potato chips, Fritos Original corn chips and Tostitos Scoops! tortilla chips.