Research Topic

NEW YORK — Further proof that the sluggish economy is affecting higher-income households much less than lower-income households can be found in the quarterly profits of Dillard's and Nordstrom's, which both reported earnings this week.

Dillard’s Inc. reported Friday that profit for the quarter ended Oct. 29 soared a record 85% to $26.6 million, compared with $14.4 million in the year-ago period. Strong comps and contained expenses propelled the strong performance.

Little Rock, Ark. -- Dillard’s Inc. reported Friday that profit for the quarter ended Oct. 29 soared a record 85% to $26.6 million, compared with $14.4 million in the year-ago period. Strong comps and contained expenses propelled the strong performance.

Revenue rose to $1.38 billion, from $1.34 billion, beating Wall Street’s expected $1.36 billion in sales. Same-store sales increased 5%.

Jacksonville, Fla. -- Body Central Corp., which operates under the Body Central and Body Shop banners, reported Friday that net income for the third quarter more than doubled to $2.8 million, from $1.3 million a year earlier.

Total revenue rose 18% to $67.1 million, compared with $56.9 million a year ago. Results were boosted by a 21.2% increase in store sales. Same-store sales rose 8.2%.

The company opened five new stores during the third quarter and is on track to open 33 new stores in 2011.
 

CITY OF COMMERCE, Calif. — A strong earnings and sales performance during its fiscal second quarter gave 99 Cents Only Stores the confidence to raise its full year guidance and become more aggressive with store growth. The company reported that total retail sales increased 9% to $352.2 million and same-store sales increased 6.7% for the second quarter. Consolidated net income increased by $2.2 million to $15.1 million or 21 cents per diluted share, versus $12.9 million in the prior year, or 18 cents per diluted share

Overall, there was a slight upward trend in both size of inserts and circulation, with a 5% increase in the number of pages per insert and 2 % increase in the average number of inserts across markets.

SECAUCUS, N.J. — The 2011 Kosherfest confirmed what many in the industry already know — kosher products are in high demand by a growing number of both Jewish and non-Jewish consumers. 

Seattle -- Nordstrom Inc. reported Thursday that profit for the quarter ended Oct. 29 rose 6.7% to $127 million, compared with $119 million in the year-ago period.

Net sales rose 14.2% to $2.4 billion, surpassing Wall Street’s expected $2.35 billion and up from $2.1 billion a year earlier.  Same-store sales climbed 7.9%.

The company opened two full-line department stores – in Nashville and St. Louis -- and nine Nordstrom Rack stores during the quarter.
 

New York City -- Deloitte’s 26th annual holiday survey of consumer spending intentions and trends, released Thursday, found that nearly half (48%) of consumers say they most likely will shop for gifts online this holiday season – a 13% increase from last year. 

This makes the Internet the No.1 shopping destination, now tied with discount stores, for the first time since adding the channel to Deloitte’s annual study.

Atlanta -- A report released Thursday by First Data Corp., which tracks same-store consumer spending by credit, signature debit, PIN debit, EBT cards and checks at U.S. merchant locations, found that, in October, dollar volume growth held steady at 9.4% versus September’s growth of 9.5%.

Overall transaction growth improved to 7.5% in October from 7.1% in September. Inflation continued to be evident in the food sector as Food/Beverage Stores posted average ticket growth of 2.3% for the second consecutive month.

City of Commerce, Calif. -- Discounter 99 Cents Only Stores reported Wednesday that profit for the second quarter rose 17% to $15.1 million, compared with $12.9 million a year earlier.

Revenue rose 8.8% to $363 million, beating analysts’ expected $357.3 million. Same-store sales increased 6.7%.