FINANCE

Urban Outfitters' profit and sales fell in the second quarter even as it topped Wall Street expectations.   Urban Outfitters said it earned $49.91 million, or 44 cents a share, in the quarter, down from $76.91 million, or 66 cents a share, in the year-ago period, as the retailer Analysts had expected the company to earn $0.37 per share, amid heavy discounting.    Total net sales fell 2% to $873 million, from $891 million a year ago. Analysts had expected sales of $862 million. 

After a solid first quarter, Home Depot has posted an even stronger set of second quarter figures. Total sales rose by 6.2% with underlying comparables up by 6.3% overall and by 6.6% in North America. Given the long run of big uplifts in same-store numbers, this is a very impressive performance.  

Coach ends its fiscal with a set of strong results that signify the turnaround program is making excellent progress. Although sales shrunk in both North America and Europe, this is because this quarter was a week shorter than the same period last year. When this is stripped out, total Coach brand sales rose by 5%, or by 7% on a constant currency basis.  

Posting less-than-expected earnings in its second quarter, the nation's largest sporting goods retailer plans to take a more promotional stance.   Dick's Sporting Goods reported consolidated net income of $112.4 million, or $1.03 per diluted share, for the quarter ended July 29, compared to $91.4 million, or $0.82 per diluted share, in the year-ago period. Excluding certain items, earnings came in at 96 cents, lower than the $1.01 that   analysts had expected.  

Coach beat the Street on earnings in the fourth quarter even as its sales declined as the company continued to pullback on shipments to department stores.    Net income nearly doubled to $151.7 million, or 53 cents per share, in the quarter ended July 1, amid a 16% decline in selling and general expenses, compared to net income in year-ago period of $82 million. Earnings, adjusted for non-recurring gains, came to 50 cents per share. Analysts had estimated earnings of 49 cents per share.  

Shoppers turned out in force in July, driving retail sales to their largest gain since December 2016.   Retail sales in July increased by 0.6% June on a seasonally adjusted basis, triple the revised 0.2% growth seen in June, according to the National Retail Federation. Sales have increased by 3.5% year-over-year. (The NRF numbers exclude automobiles, gasoline stations and restaurants.)  

The spring selling season was a busy one for the nation's largest home improvement retailer as Americans continue to spend money on their homes — both new and existing ones.   A pair of home improvement records were broken in Home Depot's second quarter as the Atlanta-based retail giant reported the highest quarterly revenue in its history. The retailer also set a new high for net earnings.  

TJX Companies reported second-quarter revenue and earnings that beat the Street, fueled by strong traffic across all its brands.      Total sales rose 6% to $8.36 billion, beating analysts' estimates of $8.29 billion, in the quarter ended July 29. Same-store sales rose 3% for the quarter, also better than expected. By brand, same-store rose 7% at Home Goods and TJX Canada; 2% at Marmaxx (TJ Maxx and Marshalls); and 1% at TJX International.