Budgets/Spending/Market Size

ALBANY, N.Y. — Trans World Entertainment reported a 78% improvement in net loss to $2.5 million, or 8 cents per share, for the first quarter as compared with a net loss of $11.4 million or 36 cents per share for the same period last year.    

For the first quarter, total sales decreased 16% to $131.5 million compared with $156.5 million in 2010.  Comparable-store sales for the quarter decreased 2%.   During the quarter, the company operated an average of 451 stores compared with 548 stores last year, a 17.7% decline.  

So maybe the Walmart U.S. isn’t lighting things up on the same-store sales front just yet; the division did manage to grow total sales by 0.6% to $62.7 billion and increase operating profits by 0.8% to $4.65 billion. This despite the fact that division president and CEO Bill Simon noted the paycheck cycle remains pronounced, and higher year-over-year gas prices are eating into the disposable income of the company’s core shoppers who are consolidating trips.

Columbus, Ohio -- Limited Brands reported Wednesday that strong sales boosted its first-quarter profit to $165.2 million, up 47% over its prior-year profit of $112.5 million. The company warned that rising costs will hurt its margins this year.

The parent of Bath and Body Works, Victoria's Secret and La Senza previously reported a revenue increase of 15% to $2.22 billion. Same-store sales rose 15%.
 

New York City -- New York & Co. reported Thursday a loss of $3.7 million in the first quarter, compared with a loss of $4.9 million a year ago.

Sales rose to $239.4 million from $237 million. Same-store sales increased 2.5%.

The company said it expects to close eight stores and remodel six existing locations, ending the second quarter of fiscal year 2011 with 545 stores, including 24 outlet stores.

Foothill Ranch, Calif. -- The Wet Seal reported Thursday that net income for the quarter ended April 30 rose to $8 million, compared with $3.1 million a year earlier.

Revenue rose to $156 million from $137.8 million. Same-store sales increased 7%.

Wet Seal said it expects eight net new store openings in 2011, with six net openings at Wet Seal and two at Arden B.
 

Washington, D.C. -- A report released Thursday by Bloomberg said that consumer confidence fell last week to the lowest level in nine months as the cost of fuel pinched U.S. household budgets.

The Bloomberg Consumer Comfort Index declined to minus 49.4 in the period to May 15, the worst reading since August, from the prior week’s minus 46.9. A gauge of personal finances plunged to the weakest level since October 2009, and a monthly measure of economic expectations held at a seven-month low.

Grapevine, Texas -- GameStop Corp. reported Thursday that fiscal first-quarter profit rose 6.9% to $80.4 million, compared with $75.2 million a year earlier.

Overall sales rose 9.5% to $2.28 billion, while same-store sales increased 5.3%.

Canton, Mass. -- Casual Male Retail Group reported Thursday that net income for the quarter ended April 30 edged up 1% to $4.2 million.

Revenue increased 1% to $95.8 million from $95 million, missing Wall Street's estimate of $97.4 million. Same-store sales rose 2.2%.

San Francisco -- Williams-Sonoma reported Thursday that net income for the quarter ended May 1 jumped 62% to $31.6 million, from $19.5 million a year earlier, topping company expectations.

Revenue rose 7.4% to $770.8 million, better than expected.

Same-store sales, which includes direct-to-consumer revenue, rose 9%. Same-store sales rose 3.1% at the namesake brand, 7.9% at Pottery Barn and a record 11% at Pottery Barn Kids.

Phoenix -- PetSmart reported Wednesday that net income in the first quarter rose 28% to $70.9 million, compared with $55.6 million in the year-ago period. Results beat Wall Street expectations.

Revenue increased almost 7% to $1.49 billion, from $1.40 billion in the previous year. Same-store sales rose by 5%.