Direct To Consumer (DTC)

COLUMBUS, Ohio — For the first time, Big Lots is expanding its retail operations outside of the United States with the announcement that it has agreed to purchase all of the outstanding stock of Liquidation World Inc., an Ontario based retailer which operates 92 closeout stores in Canada. 

New Delhi, India  — A Thursday report by Bloomberg said that India will announce new rules for foreign investment in retail by April 2012, which will pave the way for Wal-Mart Stores and Carrefour SA to open stores in the country.

 “We are much further down the process than people think,” said Junior Trade Minister Jyotiraditya Scindia in an interview with Bloomberg. “I think it is a huge opportunity” for India. 

New York — Gap Inc. plans to Athleta stores at the Grove shopping center in Los Angeles and at Fashion Island mall in Newport Beach, Calif., this fall, according to the Los Angeles Times.

Gap bought Athleta, which sells sells women’s clothing for such sports as yoga, running and swimming, along with shoes and other fitness accessories, in 2008. At the time, Athleta just an online and catalog business. The brand opened its first two retail stores in the last year, both in Northern California.

Oakland, Calif. -- Cost Plus reported a narrower loss of $3.4 million for its first quarter, compared with a net loss of $10.3 million for the same period in 2010.

Revenue increased 6% to $199.7 million, from $188.6 million.
 

New York City -- Liberty Media Corp. has offered to buy Barnes & Noble in a deal valued at about $1 billion, which represents a 20% premium over the bookseller’s market value Thursday. Barnes & Noble said Thursday that the cash offer, which the Wall Street Journal called a “stunner,” is worth $17 a share.

The companies have yet to sign an agreement.

COLUMBUS, Ohio — Limited Brands reported that adjusted earnings per share for the first quarter ended April 30, were 40 cents compared with adjusted earnings per share of 25 cents for the quarter ended May 1.  First quarter adjusted net income was $129.8 million compared with adjusted net income of $82.9 million last year, the company reported. 

Limited Brands reported that comparable-store sales for the first quarter increased 15%, and net sales were $2.217 billion compared to $1.932 billion last year.  

Sales at Walmart’s international division increased 11.5% to $27.9 billion, aided to a large degree by a $1.3 billion currency exchange benefit, without which the sales increase would have been a more modest 6.2%.

Everett, Wash. -- Zumiez reported Thursday net income of $1.9 million in the first quarter, compared with a loss of $1.9 million in the year-ago period. The retailer said it plans to open 44 new stores in fiscal 2011, including its first stores in Canada.

The results for the first quarter of fiscal 2010 include costs of approximately $1.2 million associated with the relocation of the company's distribution center from Everett, Wash., to Corona, Calif.

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%.
 

New York City – Aeropostale reported Thursday that net income for the first quarter decreased 64% to $16.4 million, compared to $45.4 million last year.

Revenue rose 1% to $469.2 million, from $463.6 million. Same-store sales decreased 7%.

The company opened nine Aeropostale and seven P.S. from Aeropostale stores, and closed one Aeropostale store during the quarter.