Financial/Banking

Pittsburgh -- Dick's Sporting Goods reported Tuesday that net income for the first quarter rose to $37.5 million, compared with $26.2 million a year earlier.

Net sales increased 6.3% to $1.1 billion. Same-store sales rose 2.1%.

The retailer will open 34 new Dick's Sporting Goods stores in 2011, as well as remodel 14 existing locations. It also plans to open approximately three Golf Galaxy stores and relocate one Golf Galaxy store this year.

Jacksonville, Fla. -- Winn-Dixie Stores said Monday that profit for the quarter ended April 6 rose to $23.5 million, compared with $20.9 million in the year-ago period.

Revenue declined to $1.62 billion, and same-store sales slipped a half-percent.
 

New York City -- Citing a strong rebound in luxury spending, Saks reported Tuesday that net income for the quarter ended April 30 soared 51% to $28.4 million, compared with $18.8 million in the year-ago period.

Revenue rose 9% to $726 million, and CEO Stephen Sadove said that he is “increasingly optimistic about the future. With the rebound in the financial markets, the luxury sector has rebounded as well.”

The retailer reported that same-store sales surged 10.2% in the quarter.
 

NEW YORK — The Deloitte Consumer Spending Index, which tracks consumer cash flow as an indicator of future consumer spending, fell to 3.16% from an upwardly revised gain of 3.78% a month ago.

The index showed the largest single month decline since November 2007.

Deloitte said that the index, which is comprised of four components — including tax burden, initial unemployment claims, real wages and real home prices — saw a drop due to "a sharp deterioration in real wages coupled with a rise in jobless claims."

New York City -- Falling real wages and rising jobless claims in April contributed to largest single month drop in the Deloitte Consumer Spending Index since November 2007. The Index, which tracks consumer cash flow as an indicator of future consumer spending, fell to 3.16% from an upwardly revised gain of 3.78% a month ago.

New York City -- All Saints, the U.K. fashion retailer known for its dark interiors and edgy threads, has been bought by British investment firm Lion Capital and U.S. private equity firm Goode Partners, Britain’s The Telegraph reported. The purchase is likely to speed the chain’s expansion in the United States.

WINSTON-SALEM, N.C. — HanesBrands announced that CFO E. Lee Wyatt has resigned effective June 30 and current controller and chief accounting officer Dale Boyles will serve as interim CFO while the company conducts a search to fill the position.

Wyatt, 58, who joined HanesBrands before its 2006 spinoff to oversee the development of the company’s financial, accounting, and external reporting capabilities, is leaving the company to seek similar opportunities, according to HanesBrands.

Organic growth initiatives come out on top (46%) when it comes to how to increase market share, followed by a mix of organic growth and M&A (22%) and primarily M&A (22%), according to a survey of 152 senior financial executives of global retail companies by KPMG International.