Retail

Framingham, Mass. -- TJX Cos. said Tuesday that its second-quarter net income increased a better-than-expected 8% on strong sales in the United States and abroad. The retailer also lifted its full-year earnings forecast.

TJX earned $517.6 million for the period ended Aug. 2, compared with $479.6 million a year earlier.

Revenue rose 7% to $6.92 billion from $6.44 billion, beating Wall Street's estimate of $6.88 billion.

Shopping site Shopsavvy announced an update to its mobile app this week that adds functionality for users who are looking for the right price on the product they want.  

The update increased the number of participating retail outlets from fewer than 40,000 to about 500,000. Additionally, products can be tracked by their barcodes using the app’s built-in scanner.

Atlanta -- Country Club Prep, an e-commerce retailer for preppy apparel, is hosting the grand opening of its first brick-and-mortar store in Charlottesville, Virginia, on Aug. 23. Launched from a basement in 2012 by two former attorneys Matt Watson and Stephen Glasgow, the concept will launch its brick-and-mortar presence at the University of Virginia.

Better than expected second quarter sales and profits at TJX Companies prompted CEO Carol Meyrowitz to strike an optimistic tone about the discount retailer’s future prospects.

New York -- As analysts begin to speculate about the acquisition scenarios for Family Dollar – whether by Dollar Tree or Dollar General – one thing is clear: some store closures will occur.

According to a report by Wall Street Journal Online, a Dollar General takeover would close more stores than if Dollar Tree wins the bid. Dollar General said it is prepared to divest up to 700 of the combined company’s approximate 19,600 stores to satisfy antitrust regulators.
 

The story of Houston, Texas has added some exciting new chapters in recent years. With low unemployment, a booming economy and one of the fastest-growing populations of any city in the nation, Houston’s rise alongside some of the most prominent cities in the nation continues unabated. Trailing only New York, Los Angeles, and Chicago in size, Houston’s growing influence as a cultural and financial icon has made it a player on the national and international stage.

Staples has enlisted Kenshoo, a global leader in predictive media optimization technology, and RevTrax, a promotions platform that drives and measures in-store sales through digital coupons, to help the company optimize omnichannel campaigns in Canada.

New York -- Dick’s Sporting Goods reported second quarter net income of $69.5 million, below expectations, compared to $84.2 million the prior year. Its results included a $20.4 million charge related to restructuring of the company’s golf business,

The retailer reported $1.7 billion in revenue, up 10.3% from the same period last year and in line with estimates. E-commerce sales increased to 6.3% of sales, from 5.6% of sales the prior year.