Research Topic

If you’re peeking at the news between slats in your fingers, scared to see where the S&P 500 sits or what’s happening with the NASDAQ, the Dow and the price of oil, you’re quite obviously not alone. Each day is a frightening new one, and no one – not even economists – are quite sure what’s going to happen next.

The trend of fewer people shopping Walmart stores less often has hurt the company’s efforts to revitalize U.S. sales growth, and now it the appears trip consolidation trend is playing out internationally as well.

GRAPEVINE, Texas — GameStop reported a same-store sales decline of 9.1% for the second quarter on slow hardware sales and a lighter software slate than the prior year quarter. Despite the poor performance in new hardware and software, the company said pre-owned sales were strong for the quarter.

Total sales for the second quarter of 2011 were $1.74 billion, a decrease of 3.1% compared to $1.80 billion in the prior year quarter. 

New York City -- Aeropostale reported Wednesday that net income for its second quarter plummeted 93% to $2.94 million, from $43.6 million in the year-ago period.

Sales declined 5% to $468.2 million and same-store sales dropped 14%.

The company revised its third quarter forecast downward.

Birmingham, Ala. -- Hibbett Sports reported Friday that profit for the quarter ended July 30 surged 48% to $5.9 million, compared with $4 million a year earlier.

Revenue rose more than 9% to $153.1 million, beating Wall Street’s projected $151.9 million in revenue.

 

New York City -- Foot Locker reported Thursday that net income in the second quarter was $37 million, compared with $6 million in the year earlier period.

Sales surged 16.3% to $1.3 billion this year, and same-store sales increased 11.8%. 
 

Foothill Ranch, Calif. -- The Wet Seal reported Thursday that net income for the quarter ended July 30 rose to $2.2 million from $1.6 million.

Sales rose to $148.8 million, compared with $131.5 million a year earlier.  Same-store sales increased 6%, the strongest second-quarter comps since 2005, according to the company.

Looking ahead, Wet Seal said it plans to spend $17 million to $18 million in fiscal 2011 on construction of new stores or remodeling of existing stores upon lease renewals and/or store relocations.
 

San Francisco -- Gap reported Thursday that profit for the quarter ended July 30 dropped 19% to $189 million, compared with $234 million in the year-ago period.

The retailer, which operates the Gap, Old Navy and Banana Republic banners, cited aggressive merchandise pricing reductions for the profit decline. Results beat analysts’ earnings expectations, but the declines still raised concerns about Gap’s performance in the upcoming fall and holiday shopping seasons.

There was a lot of talk about the favorable membership trends Sam’s Club experienced during the second quarter, thanks to membership and other income that increased 2.5% to $728 million. That prompted Wal-Mart Stores Inc., president and CEO Mike Duke to include Sam’s Club among the list of positive developments he called out regarding the company’s second quarter performance.

“I am also pleased with the momentum in membership income, as Sam’s improves its renewals and upgrades,” Duke said.