Retail

Grapevine, Texas -- GameStop Corp. reported Thursday that fiscal first-quarter profit rose 6.9% to $80.4 million, compared with $75.2 million a year earlier.

Overall sales rose 9.5% to $2.28 billion, while same-store sales increased 5.3%.

Jacksonville, Fla. -- Stein Mart reported Thursday that net income for the first quarter rose to $15.9 million from $14.3 million in 2010.

Sales edged up 0.8% to $303.5 million, and same-store sales increased 1.5%.

The retailer said it is increasing its plan for capital expenditure in 2011 by $5 million to a range of $30 to $35 million. Stein Mart said the increased spending is for POS hardware in all stores toward increasing operational efficiency.

CHESAPEAKE, Va. — Dollar Tree reported 34.4% year-over-year EPS growth for the first quarter of 2011. Earnings per diluted share for the first quarter were 82 cents, compared with earnings per diluted share of 49 cents reported for the quarter ended May 1, 2010, which included a non-recurring, non-cash charge of $26.3 million relating to a retail inventory accounting change in the first quarter 2010.

Foothill Ranch, Calif. -- The Wet Seal reported Thursday that net income for the quarter ended April 30 rose to $8 million, compared with $3.1 million a year earlier.

Revenue rose to $156 million from $137.8 million. Same-store sales increased 7%.

Wet Seal said it expects eight net new store openings in 2011, with six net openings at Wet Seal and two at Arden B.
 

Secaucus, N.J. -- The Children's Place Retail Stores reported Thursday that profit for the quarter ended April 30 rose 4% to $29.1 million, compared with $27.9 million a year earlier. The retailer cited better product assortment, strong online sales and inventory-control efforts for the improved performance.

Children’s Place also increased the low end of its full-year earnings outlook range, but its 2011 and second-quarter forecasts missed Wall Street's expectations.

SECAUCUS, N.J. — The Children's Place Retail Stores has announced net sales of $430.8 million for the first quarter ended April 30, a 2% increase compared with $422.1 million in the first quarter of fiscal 2010. Comparable-retail sales declined 3.2% in the first quarter of 2011.

The company reported that income from continuing operations after tax was $29.1 million, or $1.10 per diluted share, in the first quarter of 2011, compared to $28 million, or $1.00 per diluted share, in the first quarter of 2010.

By Ramsey Mansour, [email protected]

Atlanta -- RedPrairie Corp., a global supply chain and retail technology provider, announced that Levin Furniture has gone live with RedPrairie’s fleet management solution for complete route and load planning across its home-delivery operations.

The system will run in tandem with RedPrairie’s warehouse management solution, which Levin implemented at its distribution center in Smithton, Pa.,over two years ago.