Department Store

HOFFMAN ESTATES, Ill. — Sears Holdings reported a first-quarter net loss of $170 million, or $1.58 per diluted share, in line with the company's expectations for a net loss in the range of $145 million and $195 million, or between $1.35 and $1.81 per diluted share. The company reported net income of $16 million, or 14 cents per diluted share, in 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.
 

New York City -- Target Corp. plans to spend more than it had forecast this year on its entry into the Canadian market as it nails down more of the best retail locations sooner than expected.

The retailer said it will be able to “clarify” within weeks the number and locations of the first 100 to 150 stores it will open in Canada.

“We expect to close on higher value lease transactions sooner than expected,” Target CFO Doug Scovanner told analysts on a conference call Wednesday.

Pleasanton, Calif. -- Ross Stores said Thursday that profit for the quarter ended April 30 surged 22% to $173 million, compared with $142.3 million a year earlier.

Sales increased 7% to $2.1 billion, and same-store sales rose 3% on top of a 10% gain in 2010.

Voorhees, N.J. -- Philadelphia-based Pennsylvania Real Estate Investment Trust announced that Just Sports Collectibles has opened at Voorhees Town Center, in Voorhees, N.J.

The new store is the retailer’s second location – its first in a mall – and features more square footage and an expanded product line.

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.

Plano, Texas -- J.C. Penney Co. announced Thursday that it will up its participation in the Environmental Protection Agency’s Energy Star program to 400 stores by the end of 2013. Energy Star certification is awarded to buildings that rank within the top 25% of similar commercial buildings nationwide by meeting strict energy performance levels set by the EPA.

J.C. Penney has a companywide goal to reduce facility energy use 20% by 2015.

Columbus, Ohio -- Limited Brands reported Wednesday that strong sales boosted its first-quarter profit to $165.2 million, up 47% over its prior-year profit of $112.5 million. The company warned that rising costs will hurt its margins this year.

The parent of Bath and Body Works, Victoria's Secret and La Senza previously reported a revenue increase of 15% to $2.22 billion. Same-store sales rose 15%.