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Financial/Banking

  • Report: Consumer confidence declines to nine-month low

    Washington, D.C. -- A report released Thursday by Bloomberg said that consumer confidence fell last week to the lowest level in nine months as the cost of fuel pinched U.S. household budgets.

    The Bloomberg Consumer Comfort Index declined to minus 49.4 in the period to May 15, the worst reading since August, from the prior week’s minus 46.9. A gauge of personal finances plunged to the weakest level since October 2009, and a monthly measure of economic expectations held at a seven-month low.

  • Advance Auto Parts Q1 EPS up 13.4%

    ROANOKE, Va. — Advance Auto Parts reported that first quarter earnings per diluted share were $1.35 , which was a 13.4% increase over the first quarter last year. Net income for the quarter was $109.6 million compared with $109.4 million for the same period last year.

  • PetSmart records 28% profit gain in Q1, beats Street

    Phoenix -- PetSmart reported Wednesday that net income in the first quarter rose 28% to $70.9 million, compared with $55.6 million in the year-ago period. Results beat Wall Street expectations.

    Revenue increased almost 7% to $1.49 billion, from $1.40 billion in the previous year. Same-store sales rose by 5%.

  • Casual Male Q1 profit rises slightly, misses expectations

    Canton, Mass. -- Casual Male Retail Group reported Thursday that net income for the quarter ended April 30 edged up 1% to $4.2 million.

    Revenue increased 1% to $95.8 million from $95 million, missing Wall Street's estimate of $97.4 million. Same-store sales rose 2.2%.

  • Limited Brands posts double-digit comps growth in Q1

    COLUMBUS, Ohio — Limited Brands reported that adjusted earnings per share for the first quarter ended April 30, were 40 cents compared with adjusted earnings per share of 25 cents for the quarter ended May 1.  First quarter adjusted net income was $129.8 million compared with adjusted net income of $82.9 million last year, the company reported. 

    Limited Brands reported that comparable-store sales for the first quarter increased 15%, and net sales were $2.217 billion compared to $1.932 billion last year.  

  • Ross Stores profit up 22% in Q1

    Pleasanton, Calif. -- Ross Stores said Thursday that profit for the quarter ended April 30 surged 22% to $173 million, compared with $142.3 million a year earlier.

    Sales increased 7% to $2.1 billion, and same-store sales rose 3% on top of a 10% gain in 2010.

  • NRF launches advocacy campaign to preserve swipe-fee reform

    Washington, D.C. -- The National Retail Federation Wednesday launched a major nationwide 60-day lobbying, grassroots and media campaign aimed at ensuring that a new federal law saving retailers and their customers more than $1 billion a month by lowering “swipe” fees banks charge to process debit-card transactions takes effect in late July as scheduled.

  • BJ’s Q1 profit beats plan

    Westborough, Mass. -- BJ’s Wholesale Club reported Wednesday that profit for the quarter ended April 30 rose to $33.7 million, beating its guidance range of $29.5 million to $31.5 million.

    Net sales for first quarter 2011 increased 10% to $2.77 billion and same-store club sales rose 6.3%.

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