Budgets/Spending/Market Size

This might not come as a huge surprise, but “irrational exuberance” is unlikely to be on prominent display. What have, in the past, been lavish spending habits of RECon attendees have been diminished in recent years, and I think the 2012 event will be no exception.

Framingham, Mass. -- Staples Inc. said its first-quarter net income fell 6% to $187.1 million, compared to $198.2 million a year ago, hurt by weakness abroad.

Total sales fell 1.1% to $6.1 billion. International sales, which account for roughly 20% of the company’s total revenue, dropped 8% to $1.2 billion. In the United States, Staples’ revenue was flat.
 

Minneapolis -- Target Corp. reported a better-than-expected 1.2% increase in first-quarter profit as warm weather and an early Easter helped drive sales. The chain also raised its earnings forecast for the full year.

Target’s net earnings for the quarter ended April 28 were $697 million, compared with $689 million in the year-ago period.

“We’re very pleased with our first-quarter earnings, which benefited from better-than-expected sales,” Gregg Steinhafel, Target’s CEO, said in a statement.

WASHINGTON — 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.

New York -- Retail financial chiefs are increasingly optimistic about economic prospects over the next 12 months and plan to pivot toward expansion and adding jobs, according to a survey by American Express.

The fifth annual American Express/CFO Research Global Business & Spending Monitor, a survey of 541 senior finance executives from the United States, Europe, Canada, Latin America, Asia and Australia, revealed that investments in expanded operating capacity, research and development, and mergers and acquisitions are once again on the table.

Austin, Texas -- Golfsmith reported Tuesday that it posted a loss of $3.6 million in the first quarter, compared with a loss of $3.1 million in the year-ago period.

Sales improved 11% to $90.5 million for the quarter. Same-store sales grew 8.5%.

Atlanta -- Home Depot reported Tuesday that profit for the first quarter rose a healthy 27.5% to $1.04 billion, aided by warmer weather during the period.

Sales rose 6% to $17.81 billion from $16.8 billion, missing analysts’ forecasted $17.89 billion in revenue. The company boosted its 2012 outlook based on year-to-date performance. Same-store sales increased 5.8% in the quarter, with a strong 6.1% gain in the United States.
 

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.

Wal-Mart Stores fell to the number two spot on the Fortune 500 list after holding the number one spot for two years. It was ousted by Exxon Mobil, which benefitted from rising oil prices.To see the full list, click here.

GRAPEVINE, Texas — Ahead of releasing its first quarter results, GameStop said earnings for the quarter were 54 cents per share and that same-store sales fell 12.5%. According to the company, this drop in same-store sales is due to light demand for “AAA” game launches and slower than expected store traffic during the quarter.

The company has reaffirmed its full year earnings per share guidance of $3.10 to $3.30.