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  • American Eagle Outfitters to exit 77kids brand

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  • Casual Male profit falls 45% on higher tax rate

    Canton, Mass. -- First-quarter net income dropped 45% at Casual Male Retail Group Inc., hurt by a higher tax rate. The chain’s tax rate jumped to 40.4% from 10.1% due to the reversal of a valuation allowance in fiscal 2011.

    The retailer reported Friday that it earned $2.3 million for the three months ended April 28. That's down from $4.2 million in the year-ago period.

    Revenue edged up slightly to $95.9 million from $95.8 million on better sales at its DXL and Casual Male XL stores and more money spent per customer.

  • GameStop Q1 profit slides on weak demand

    Grapevine, Texas -- GameStop said Thursday that net income for the quarter ended April 28 slid to $72.5 million, from $80.4 million in the same period last year, negatively impacted by weakened demand in the video game market.

    Sales for the quarter declined 12.2% to $2 billion, compared with $2.28 billion in the prior year quarter. As previously announced, same-store sales dropped 12.5%.
     

  • Rewards: The New Currency

    By Craig McLaughlin, [email protected]

    There is a growing trend in the loyalty rewards space -- using reward points as currency, creating a more holistic, streamlined approach to loyalty programs.

  • Bill reverses right of New Jersey to claim unused gift card

    New York -- A 2010 law that gave the state of New Jersey the authority to claim the value of unused gift cards as revenue has been repealed by the state’s Senate Budget and Appropriations Committee, according to the Newark Star-Ledger.

  • Hibbett profit increases 24%; opening 55 to 60 stores

    Birmingham, Ala. -- Hibbett Sports Inc. said Friday that its fiscal first-quarter net income increased 24% on higher demand for sneakers and other athletic gear. The retailer also raised its profit outlook for the year.

    For the three months through April 28, Hibbett earned a better-than-expected $26.4 million, up from $21.3 million in the same quarter last year.

  • Limited Brands Q1 profit slips, still beats Street

    Columbus, Ohio -- Limited Brands Inc. reported Wednesday a first-quarter profit of $124.6 million, compared with $165.2 million in the year-ago period. Results topped Wall Street estimates.

    Net sales slipped to $2.15 billion from $2.22 billion, and same-store sales increased 7%.
     

  • Gap Inc. raises guidance sales, EPS growth in Q1

    SAN FRANCISCO — Gap Inc. raised its full year guidance Thursday after reporting first quarter sales and earnings per share growth. For the quarter ended April 28, sales increased 6% to $3.5 billion compared with $3.3 billion for the first quarter last year. The company’s first quarter comparable sales increased 4%. Net income for the first quarter was $233 million, flat compared with the first quarter last year. First quarter diluted earnings per share increased 18% to 47 cents compared with 40 cents last year.

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