Seasonal

Naperville, Ill. -- Office Max Inc. reported Thursday net income of $10.7 million for the second quarter, besting Wall Street predictions and representing a strong turnaround from last year’s $3 million loss stemming from store closures and severance expenses.

Revenue for the quarter slipped 2.7% to $1.6 billion, missing analysts’ forecasted $1.64 billion in revenue. The office supply retailer said it will reinstate its quarterly common stock dividend, which it suspended more than three years ago.

New York -- Many retailers reported better-than-expected results in July as warm weather and clearance sales drew shoppers into stores. Thomson Reuters reported that three-quarters of retailers reported results beat expectations. Costco Wholesale Corp., Target Corp., Limited Brands and Gap Inc. all reported gains above expectations.

El Segundo, Calif. -- Big 5 Sporting Goods Corp.'s quarterly profit beat Wall Street estimates, fueled by strong sales of apparel and footwear.

For the second quarter, ended July 1, the company posted net income of $2.6 million.

Sales rose 4% to $226.6 million, narrowly missing Wall Street estimates of $227.4 million, which the company attributed to July 4th-related sales shifting to the third quarter. Same-store sales increased 1.0%.

BENTON HARBOR, Mich. — Luxury appliance maker Jenn-Air has signed on as the exclusive major appliance sponsor of the second annual Los Angeles Food & Wine Festival.

This 2012 Los Angeles Food & Wine Festival will feature more than 50 events including wine seminars, unique dining experiences, and cooking demonstrations. The event will host more than 130 celebrated chefs and 200 acclaimed wineries, with proceeds raised benefiting St. Vincent Meals on Wheels.

NEW YORK — Macy's has partnered with fashion designer, B. Michael, for the launch of his new collection, b michael America Red. Set to debut in ten Macy's locations across the country by Aug. 15.

"I am excited by the opportunity to share my point of view of Advanced American Style with a broader audience. We are especially pleased to have Macy's as the retailer to launch the collection -- the quintessential american department store."

MONTREAL — Toy manufacturer Mega Brands reported that net sales in the second quarter increased 13% to $94.5 million compared with $83.9 million in the corresponding 2011 period.

Toy sales increased 14% compared to the second quarter of 2011, driven by higher product shipments in the preschool and boys construction categories. Toy sales have increased year-over-year in ten of the last 11 quarters.

Sales of stationery and ctivities products were up 10%, the fifth consecutive quarter of year-over-year growth in this segment.

Despite a stagnant economy and drought conditions across large parts of the country, Brentwood, Tenn.-based Tractor Supply Co. reported sales and earnings growth.

The company posted second-quarter sales of $1.29 billion, up 9.6% from $1.18 billion in the same quarter last year.

The nation’s largest chain of farm and ranch specialty stores posted earnings of $106.6 million, up 8.3% from $91.2 million in the year-ago period.

ARMONK, N.Y. — IBM's fifth annual Online Retail Holiday Readiness report has uncovered that 2012 may just be the year of mobile.

Based on data from more than 500 U.S. retailers, the report found that online mobile sales increased 88.8% in second quarter 2012, compared with year-ago period.

What's more, IBM is forecasting that mobile sales will reach 20% of total online holiday sales this holiday season, and that mobile traffic will close in on 25%.

NEW YORK — Volume sales for U.S. consumer packaged goods have fallen since last year due to higher prices, less promotional support and soaring temperatures, according to Nielsen SVP consumer and shopper insights Todd Hale.

St. Louis -- Build-A-Bear Workshop reported Thursday a loss of $8.3 million for the quarter ended June 30, compared with a $10.7 million loss in the year-ago period.

Retail sales dipped 1.8% and same-store sales declined 1.7%.

Chief executive bear Maxine Clark said she is focused on the future. “In just over a month, we will open our first newly imagined store design in St. Louis with five additional stores opening in major U.S. markets in the following weeks.”