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Apparel

  • TJX Cos. profit surges 21% in Q2

    Framingham, Mass. -- TJX Cos. reported Tuesday that net income for the quarter ended July 28 soared 20.9% to $421.1 million, up from $348.3 million and marking the discounter’s third consecutive quarter of rising profits.

    Revenues beat projections by climbing 8.7% to $5.95 billion.

    The owner of the Marshalls and T.J. Maxx chains raised its full-year profit forecast.

  • Comps up, loss widens at Saks

    NEW YORK — Saks Inc. recorded a net loss of $12.3 million, or 8 cents per diluted share, for its second quarter. For the prior year second quarter, the company recorded a net loss of $8.4 million, or 5 cents per diluted share.

  • July retail sales rose more than forecast

    Washington, D.C. -- Fueled by strength from department stores, electronics and the automobile sector, retail sales advanced 0.8% in July, the first gain in four months, according to a report released Tuesday by the Commerce Dept.

    The bigger-than-expected increase followed a 0.7% decline in June that was weaker than first reported. Bloomberg forecast a 0.3% rise in July. The results have buoyed feelings overall that the economy may be improving, albeit at a moderate pace.

  • Dots names former Wal-Mart exec as new CEO, unveils plans to grow to 1,000 stores

    Glenwillow, Ohio -- Fashion retailer Dots announced Tuesday it has named former Wal-Mart Stores senior VP Lisa Rhodes as its new CEO.
       
    Rhodes, who led Wal-Mart’s U.S. apparel merchandising division, has been charged with leading Dots’ march toward 1,000 stores, also announced Tuesday.
        
    Prior to her role at Wal-Mart, Rhodes was executive VP and chief merchandising officer for Maurice’s.
       

  • Report: Retailers, suppliers disappointed in summer sales but optimistic about holidays

    New York -- A report released Tuesday by Capital Business Credit found that, overall, importers and manufacturers who sell to America's major retailers are preparing for a surprisingly stronger winter shopping season than expected.

    According to the quarterly "Global Retail Manufacturers and Importers Survey," 77% of importers of retail goods believe the fall/winter season will be the same or stronger than last year.

  • TJX posts 24% earnings growth, raises guidance

    FRAMINGHAM, Mass. — TJX reported that net sales for the second quarter of fiscal 2013 increased 9% to $5.9 billion and consolidated comparable-store sales increased 7%. Net income for the second quarter was $421 million and diluted earnings per share were 56 cents, a 24% increase over 45 cents per share last year.

  • Dick's Sporting Goods profit slips in Q2, on track to open 38 stores in 2012

    Pittsburgh -- Dick's Sporting Goods reported Tuesday that net income for the quarter ended July 28 slid to $53.7 million, from $73.8 million in the same quarter a year ago. The sporting goods retailer blamed the lackluster profit performance partly on weakness from newly acquired JJB Sports and adverse weather in the first quarter.

    Sales climbed 10% to $1.4 billion, meeting Wall Street expectations. Same-store sales rose 3.8%, consisting of a 2.9% increase at Dick’s stores, a 4.4% rise at Golf Galaxy, and a 34.6% increase in its e-commerce business.

  • Report: Sears considering sale of Lands End

    New York City -- The New York Post reported Tuesday that Sears Holdings Corp. may be mulling over a sale of its Lands End unit. The move would dovetail with the massive restructuring effort the company has launched.

    According to the report, chairman Eddie Lampert has been meeting with investors to discuss the divestiture of Lands End.
     

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