Corporate Governance

New York -- American Eagle Outfitters earned a better-than-expected $39.7 million for the quarter ended April 28, compared with $28.3 million in the same period last year.

The company had said earlier first-quarter sales rose 18% to $719 million. Same-store sales were up 17%.

Dallas -- Zale Corp reported a narrower third-quarter loss on Wednesday.

Zale’s net loss narrowed by about a half to $4.5 million in the third quarter ended April 30, from $9 million a year ago.

Revenues for the quarter ended April 30, 2012 rose 8.1% to $445 million, compared with $412 million in the same period last year. Same-store sales increased 8%.

Hingham, Mass. -- Talbots Inc. said is extending its talks with Sycamore Partners about an acquisition offer. It is the second time the chain has extended the talks.

Talbots has extended the period of time during which it will talk solely with the private equity firm about its $211 million takeover offer until Thursday.

The first time Talbots extended the exclusivity period was a week ago, when it announced that the talks would continue until Wednesday.

Columbus, Ohio -- Big Lots Inc. posted a lower-than-expected adjusted profit for the first quarter and cuts its full-year earnings outlook.

Big Lots' first-quarter earnings fell 22% to $40.7 million, from $52.5 million a year ago. Sales increased 5.4% to $1.29 billion. Same-store sales edged down 0.8%.

Net profit margin declined to 3.1% from 4.3% a year ago.
 

Hoffman Estates, Ill. -- Kmart announced it is launching an in-store bill pay program that will allow customers to pay bills from more than 3,000 companies—everything from electric, gas and cable bills to credit card statements and auto loans.

The program is being offered through the CheckFreePay walk-in bill payment service from Fiserv (FISV). Customers seeking an easy and convenient way to pay bills in person can now visit any Kmart store nationwide.

Minneapolis -- Best Buy said its profit for the first quarter fell 26% amid higher restructuring charges and lower comparable store sales. However, adjusted earnings topped analysts' expectations and the company maintained its earnings outlook for fiscal 2013.

Best Buy said its profit fell to $158 million in the quarter ended May 5, from $212 million in the year-ago period.

Revenue rose 2% to $11.61 billion, helped by an extra week, and sales of tablets and mobile phones. International sales fell on weakness in China and Europe.

Cincinnati -- Macy's Inc. will start selling some of its private brand merchandise directly to shoppers in China through a deal with an online retailer there.

The chain said it will the goods through a Macy’s section on Omei.com, a newly established China-based online retailer of in-season luxury and fashion brands operated by VIPStore Co., a Chinese e-commerce firm and parent company of Omei.com

SALISBURY, N.C. — Food Lion announced the results of its two-week Hunger Has a Cure campaign.

The campaign, which ran April 4 to April 17, raised more than $500,000, which will support Feeding America's network of local food banks. Feeding America will use the funds to provide 3.7 million meals to those in need. As part of the campaign, customers were given the opportunity to donate $1, $3 or any other amount of their choice at checkout.

MINNEAPOLIS — Best Buy reported GAAP net earnings from continuing operations of $161 million, or 47 cents per diluted share, for the first quarter ended May 5, compared with net earnings from continuing operations of $255 million, or 64 cents per diluted share for the prior-year period.

SAN FRANCISCO — Williams-Sonoma's net revenues increased 6.1% to $818 million from $771 million in the first quarter of fiscal 2011 ended May 1, 2011. Comparable brand revenue increased 5.4%. Diluted earnings per share was 30 cents versus 29 cents in the first quarter of 2011. On a non-GAAP basis, EPS for the quarter increased 13% to 34 cents versus 30 cents in the same period last year.