Direct To Consumer (DTC)

NEW YORK — Foot Locker has posted the best quarterly profit results in its history for the first quarter ended May 4. The company's net income for the quarter was $138 million, a 10% increased from $128 million for the same period last year.  

The New York-based specialty athletic retailer's first quarter comparable store sales increased 5.2%.

New York – Ralph Lauren Corporation reported increases in sales and net income during both fourth quarter and the full year of fiscal 2013. Quarterly retail sales rose 7% from $752 million to $804 million, while annual retail sales rose 6% from $3.4 billion to $3.6 billion. Ralph Lauren attributed both the fourth quarter and full year retail sales improvement to incremental contribution from new stores and e-commerce operations, as well as consolidated comparable store sales growth of 3%.

New York -- Rue21 shareholder Apax Partners will acquire the teen apparel retailer in a deal valued at about $1.1 billion. The private equity firm, which has a 30% stake in rue21, also owns Cole Haan and Takko Fashion as part of its retail portfolio.

Rue21 said it has set up a special committee of independent directors to solicit and evaluate higher bids during a 40-day go-shop period.

Dallas -- Alliance Data Systems Corp., a provider of loyalty and marketing solutions derived from transaction-rich data announced its retail services business has signed a multi-year agreement to provide private label credit card services for multichannel computer and electronics retailer TigerDirect, a subsidiary of Systemax, Inc.   

IRVING, Texas — Michaels reported net sales of $993 million for the first quarter ended May 4, an increase of 1.5% from $978 million in the first quarter of fiscal 2012. 

Although same-store sales decreased 0.7% due to a 3% decrease in transactions, it was offset by a positive 1.7% impact from a higher average ticket and a positive 0.6% impact in deferred custom framing revenue. Michaels experienced its strongest sales increases for the quarter in custom framing and yarn.

Pittsburgh -- American Eagle Outfitters Inc. earned $28 million in its first quarter, down from $39.7 million in the same quarter last year, as cooler weather hurt demand for its spring fashions and some special charges cut into its results. But the retailer still beat market expectations.

In related news, American Eagle Outfitters will invest more than $160 million to construct a new direct-to-consumer distribution center in Hazle Township, Pa.

Minneapolis -- Target Corp. reported a 26% drop in its first-quarter profit as unseasonably cool weather, the payroll tax increase and other economic pressures took a toll on sales.

Target earned $498 million the three months ended May 4, down from $697 million in the year-ago period. Sales rose 1% to $16.71 billion.

Same-store sales fell 0.6%. The number of transactions fell 1.9%.

Philadelphia – Urban Outfitters, Inc. reported stronger than expected net sales, which drove a 39% increase in net earnings. The specialty retailer reported record total net sales of $648 million during first quarter fiscal 2014, up 14% from $568 million in the same quarter last year. Net earnings for the quarter were $47 million, higher than analyst expectations and up 39% from first quarter fiscal 2013.