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SpendingPulse: Retail sales up in February
New York City -- Retail sales in February rose in most categories ranging from clothing to furniture, despite winter storms and rising gas prices, MasterCard Advisors' SpendingPulse, which tracks spending in all forms including cash. While the increase maintains the positive performance that began in fall 2010. However, February’s year-over-year growth rates were smaller in most categories than those recorded in the November 2010 through January 2011 period.
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PetSmart’s Q4 earnings up 20%
Phoenix -- PetSmart's fourth-quarter net income rose 20%, helped by more customer transactions and a strong holiday season.
The chain's net income rose to $90.3 million from $75 million in the same period last year. Revenue rose 8% to $1.52 billion. Same-store sales were up 6.3 %.
For the year, net income increased 21% to $239.9 million. Revenue rose 6% to $5.04 billion.