Corporate Governance

New York -- Saks Inc. reported Tuesday that net income for the quarter ended April 28 rose 13.2% to $32.1 million, from $28.4 million last year.

Revenue for the period climbed 3.8% to $753.6 million, missing Wall Street’s expected $762.6 million. Same-store sales rose 4.8%.

Petaluma, Calif. -- Walmart stores equipped with smart irrigation controllers from HydroPoint Data Systems have reduced outdoor irrigation water use an average of 39% per location since the systems were deployed in 2008, the companies announced.

HydroPoint supplied 631 of its WeatherTrak controllers to select Walmart stores. The systems, which are designed to eliminate landscape water waste, harmful run-off and costly hardscape damage, were added during new store construction and as retrofit projects.

Seattle -- Family Dollar Stores has selected AccessVia Web dSignShop software-as-a-service (SaaS) to print shelf-edge signs and labels in their stores. The solution is designed for retailers who want to outsource implementation, maintenance and support activities. Using data from a central source, Web dSignShop SaaS delivers print and digital promotions to stores for immediate availability and high-speed production via the Internet.

Derby, Conn. -- DLC Management Corp. and Hutensky Capital Partners have announced a joint-venture acquisition of Walmart Plaza, a 199,393-sq.-ft. shopping center in Derby, Conn.

Anchored by Walmart, Adams Hometown Market and CVS, the center adds to DLC’s Connecticut holdings of nine shopping centers and 1.4 million sq. ft.
 

Pittsburgh -- Dick's Sporting Goods Inc. reported Tuesday that profit for the quarter ended April 28 surged 53% to $57.2 million, compared with $37.5 million for the year-ago period. The sporting goods retailer raised its earnings outlook for the year.

“For 2012, we are raising our full year guidance as we continue to invest in new stores and our e-commerce business, as well as our margin accelerators including inventory management, private brands, and product mix shift,” said Edward W. Stack, CEO.

Washington, D.C. -- A Tuesday report by the Commerce Department showed that U.S. retail sales during the month of April edged up 0.1%, following a 0.7% gain in March and marking the smallest rise of the year so far. The gain was in line with projections.

Excluding auto sales, retail sales climbed 0.1% in April.

MINNEAPOLIS — A new era is emerging at Best Buy as the company tries to come back from the fallout over disgraced former CEO Brian Dunn and re-establish itself is the dominant player in the CE space. To that end, the company's board of directors has elected Hatim Tyabji to succeed Richard Schulze as chairman of the company, effective at the conclusion of the annual meeting on June 21. Tyabji, currently chairman of the audit committee, has served as a director of Best Buy since 1998.

NEW YORK — New research that will appear in the upcoming issue of the Journal of Marketing Research explores consumer sentiment over the extension of a premium brand outside of its typical category.

COLUMBUS, Ohio — Big Lots is recognizing Armed Forces Day by offering a special discount for armed forces personnel and their families. On Saturday, May 19, all active, reserve, and retired service members will receive a 10% discount on their qualifying in-store purchases by presenting military identification. The discount can also be applied to sale and clearance items.

Houston -- Discount supermarket operator Aldi announced it is preparing to enter the Houston market with 30 new stores over the next three years. The expansion will begin in spring of 2013, with the opening of more than 10 new locations.

With this expanded Texas footprint, Aldi is expected to bring 400 jobs and an investment of over $100 million of capital expenditures to the local community. The first Aldi stores in Houston will open in the spring of 2013, with more than 10 new locations.