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Budgets/Spending/Market Size

  • Ross profit rises 21% in Q1, increases long-term store growth outlook

    Pleasanton, Calif. -- Ross Stores reported Thursday that net income for the first quarter surged 21% to $208.6 million, from $173 million in the same period last year.

    Sales increased 14% to $2.4 billion, and same-store sales rose 9%.

    “We believe that favorable weather across many of our markets also contributed to our above-plan performance," said Michael Balmuth, CEO, about the results.

  • Stein Mart profit dips in Q1

    Jacksonville, Fla. -- Stein Mart said Thursday that net income for the quarter ended April 28 slid 26% to $11.8 million, compared with $15.9 million in the same period last year.

    Revenue was basically flat at $303.4 million, missing Wall Street’s expected $303.9 million in revenue, and same-store sales dipped 0.4%.

    The company said it expects to open four new stores, relocate four stores and close four stores during the second half of 2012.
     

  • Limited Brands Q1 profit slips, still beats Street

    Columbus, Ohio -- Limited Brands Inc. reported Wednesday a first-quarter profit of $124.6 million, compared with $165.2 million in the year-ago period. Results topped Wall Street estimates.

    Net sales slipped to $2.15 billion from $2.22 billion, and same-store sales increased 7%.
     

  • Children's Place profit slides 19%, beats Street

    Secaucus, N.J. -- The Children's Place reported Thursday that net income for the first quarter slid 19% to $23.6 million from $29.1 million last year, but beat Wall Street forecasts and prompted the retailer to raise the low end of its full-year outlook.

    Revenue rose 2% to $438.5 million from $430.8 million, widely missing Wall Street’s expected $447.7 million in revenue, and same-store sales dipped 0.7%.
     

  • Target Q1 beats estimates, raises forecast

    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.

  • Survey: 80% of consumers actively looking for rebates

    Lewisville, Texas -- Ninety-five percent of consumers are interested in products that come with rebates and 80% of consumers actively seek out rebate, according to an annual consumer survey by Parago, the largest rebate provider in the United States.

    The survey found that consumer preference for rebates versus instant discounts is growing. And while economic recovery may be on its way by the numbers, consumer sentiments around spending are still timid.

  • Irrational Exuberance is a Thing of the Past

    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.

  • Staples misses as Q1 income falls

    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.
     

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