Department Store

MENOMONEE FALLS, Wis. — Strong private brand performance and smarter expense management helped Kohl's deliver a hefty earnings increase and respectable sales growth for its second quarter.

The company reported second quarter diluted earnings per share increased 30% to $1.09. Net income for the quarter was $303 million, compared with $260 million (84 cents per diluted share) a year ago. Net sales were $4.2 billion, an increase of 3.6% over the comparable prior year quarter. Comparable-store sales for the quarter increased 1.9%.

Purchase, N.Y. -- A report released Thursday by MasterCard Advisors said that total retail sales in July sustained momentum despite inconsistencies in other areas of the economy.

According to MasterCard SpendingPulse, which tracks national retail and service sales, excluding auto sales retail sales in July 2011 grew by 8.7% year-over-year. 

Retail sales are on par with the average growth of the previous three months.

HOFFMAN ESTATES, Ill. — Sears Holdings continues its efforts to reach more Hispanic consumers with the announcement that its Kmart brand has launched a Spanish-language miniseries on YouTube.

NEW YORK — Macy’s chairman, president and CEO is walking on air these days as the nation’s leading department store chain continues to deliver impressive results amid a recessionary economy that has other operators floundering for sales.

Cincinnati -- Macy's reported a whopping 63.9% increase in its second-quarter profit, beating Wall Street estimates. The department store chain is also raising its full-year profit outlook.

Chairman and CEO Terry J. Lundgren described the quarter as "the most successful second quarter and spring season in more than a decade," adding that it came on top of an impressive first half performance last year.

MENOMONEE FALLS, Wis. — Kohl's announced that its board of directors has elected John Schlifske as a new board member, effective immediately. He has been elected to a term expiring at Kohl's 2012 annual shareholders meeting and will be eligible for re-election by Kohl's shareholders at that time. He will initially serve on the board of directors' governance and nominating committee.

Overall, there was an 8 % decline in the number of pages per market across the retailer set, and a 4% decline in number of inserts. Pages being down can be attributed to a steep decline in Kohl’s and Sears' number of pages per market, while the decline in number of inserts was due to Home Depot and Staples decreasing their drops.

Home Depot and Safeway adopted a similar strategy, reducing the number inserts per market in July 2011 compared with last year, while increasing the number of pages per market. 

Architectural firm GreenbergFarrow is designing 11 Broadway, a 161,570-sq.-ft., mixed-use property now under construction at Kent Avenue and Broadway in Brooklyn's Williamsburg section.

11 Broadway is a mixed-income building that includes both residential and commercial spaces. It was developed by L+M Development Partners, Inc. and continues the company’s work in providing high-quality affordable housing to emerging communities in New York City.