Corporate Governance

San Francisco -- A resurgent Gap Inc. reported that its second quarter profit jumped 25% on strong sales of denim and other goods at its namesake and Old Navy brands. And bucking a trend set by other retailers, the company raised its full-year earnings guidance. Gap also detailed upcoming expansion plans.

DALLAS — Neiman Marcus launched an online beauty product specialist program that offers customers the same personalized counter experience they would receive in-store.

New York -- Jones Lang LaSalle has opened an office in Honolulu’s retail district.

“Robust real estate fundamentals across all asset classes makes Hawaii a top locale for investors, developers and retailers,” said Kirk Horiuchi, senior VP and Hawaii retail market lead.

Hawaii’s unemployment rate has dropped to 5% and is projected to fall further by year-end and boost consumer spending and the retail economy.

New York -- Foot Locker's second-quarter net income increased 12%, partly due to a recent acquisition. (In July, the retailer completed its purchase of German athletic store chain Runners Point Group for $94 million.)

For the period ended Aug. 3, the company earned $66 million, compared to $59 million a year ago. Its results were in line with expectations.

Revenue rose 6.4% to $1.45 billion from $1.37 billion, in line with expectations. Same-store sales rose 1.8%.

NEW YORK — Despite experiencing some challenges, particularly in the U.S., Foot Locker reported a comparable-store sales of 1.8% for the second quarter ended Aug. 3.

Saint John, New Brunswick -- Walmart Canada grand-opened a 129,000-sq.-ft. superstore in Saint John, New Brunswick, on Friday, the first of nine “Maritime Supercenters” planned for the country by Jan. 31, 2014, said the retailer.

The newly redeveloped store, which signals the launch of Walmart Canada’s Maritime sourcing program for produce, features a fresh grocery section that will serve as a prototype for all Maritime supercenters.

New York -- Ann Inc. reported that its second quarter net income rose a better-than-expected 16% to $35.6 million, with strong performances from both its Ann Taylor and Loft banners. Similar to many other retailers in recent weeks, the chain trimmed its full-year revenue forecast.

Revenue for the period ended Aug. 3 increased 7% to $638.2 million.
 
Same-store sales rose 2.8%, with a 3.1% rise at Ann Taylor and a 2.5% lift at Loft.

Pleasanton, Calif. -- Ross Stores Inc. reported a profit of $213 million for the second quarter, compared with $182 million last year and beating Wall Street’s expectations.

Revenue rose 9% to $2.5 billion, matching forecasts. Same-store sales edged up 4%, compared to a 7% rise in the same period last year. However, the retailer expressed caution about the months ahead.