Research Topic

New York -- With only a few exceptions, retailers are posting solid gains in May, with such chains as Target, TJX, Ross and TJX Cos. beating Wall Street forecasts for the month. The Thomson Reuters Same-Store Index, which tracks the stores that release monthly sales reports, is expected to rise 3.6% in May.

"Analysts are taking a careful approach to May same-store sales given the cautious tone issued by most retailers on second-quarter earnings guidance," said Ken Perkins of Retail Metrics, in a research report.

New York -- J.C. Penney appears to be relenting a bit on the strict non-promotional strategy launched by CEO Ron Johnson.

In a report on CNBC.com, Deutsche Bank analyst Charles Grom said the chain has added five "Best Price Friday" events to its calendar. The first took place the Friday of Memorial Day weekend, and another is scheduled for Black Friday in November. Others may occur at peak sales times, according to Grom.

New York -- A survey released Wednesday by Harris Interactive found that spending can be impacted by concern for the environment. While that has remained constant among many age groups, more young adults ages 18-to-24 say they are taking the environment into consideration when making purchases.

Greensboro, N.C. -- Fresh Market reported Wednesday that profit for the first quarter climbed 43% to $19.3 million, from $13.5 million in the year-ago period.

Revenue rose 23% to $324.8 million, compared with $264.5 million in the previous year and surpassing Wall Street’s expected $310.6 million in revenue.  Same-store sales increased 8.2%. The strong performance across the board prompted the grocer to bump its outlook for the year.

DALLAS — Neiman Marcus reported total revenues of $1.06 billion for the third quarter compared with $983.8 million in the prior year. Comparable revenues increased 6.7%. Operating earnings for the third quarter of fiscal year 2012 were $146.6 million compared with $123.2 million for the third quarter of fiscal year 2011, an increase of 19%.

The company reported net earnings of $62.6 million for the third quarter compared with $46.2 million in the prior year, an increase of 35%.

New York -- Consumer confidence in May rose to the highest level since October 2007, according to the Thomson Reuters/University of Michigan final index of consumer sentiment. The index rose increased to 79.3 from 76.4 the prior month. 

Industry analysts said a decline in gas prices and an improving housing market is helping offset slower job growth and volatile stock prices.

Estimates for the confidence measure ranged from 76 to 79, according to a Bloomberg survey of 60 economists.
 

Armonk, N.Y. -- Survey results released Thursday by IBM said that Americans are increasingly upbeat about their plans for the Memorial Day weekend, with a huge increase this year in the amount of people talking about traveling and spending compared to last year.

According to the IBM Social Sentiment Index, the "Desire Ratio" – the proportion of positive versus negative comments about shopping – increased by a factor of five for this Memorial Day compared with last year.

Memphis, Tenn. -- Fred's Inc. reported Thursday that profit for the quarter ended April 28 rose 9.9% to $10.5 million, compared with $9.5 million in the year-ago period.

Revenue increased 3.3% to $500.5 million, edging Wall Street’s expected $500.3 million, but same-store sales dipped 0.4%.

The company opened three new regular stores and four express pharmacy stores during the quarter, as part of its plan to open 22 to 28 stores this year.
 

Chicago -- A new study of global wealth and spending patterns by A.T. Kearney’s Global Consumer Institute projects $12 trillion in new consumer spending over the next decade, with the United States accounting for 25% of the spending growth. Spending on food will account for about 10% of the overall total.

Issaquah, Wash. -- Costco Wholesale Corp. reported Thursday that net income for the quarter ended May 6 surged 19% to $386 million, from $324 million in the same period last year.

Revenue rose 8% to $22.3 billion from $20.6 billion, beating Wall Street’s expected $22.1 billion in revenue. Same-store sales increased 5%.

The company said it plans to open six additional warehouse clubs before the end of fiscal 2012.