Discount Store

City of Industry, Calif. -- Hot Topic reported Wednesday a loss of $800,000 for the second quarter, tightened from a $6.2 million loss in the prior-year quarter.

Revenue rose 4.6% to $157.8 million compared with $150.9 million, and same-store sales increased 3.9%.
 

Indianapolis -- The Finish Line announced Wednesday it has named Greg Beidler as senior VP store operations for the chain.

Beidler was previously regional operations director for Sam’s Club/Wal-Mart Corp., and has served in management roles for GameStop, Brown Shoe, Circuit City and Athlete’s Foot.

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.

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.
   

Purchase, N.Y. -- A SpendingPulse report Tuesday by MasterCard Advisors, in partnership with Wells Fargo, found that July spending at small retailers slowed to 6% year over year. 

This was lower than June’s small retailer growth rate of 8%. The July report also found that with or without food service and gasoline sales, July’s small business growth was the lowest for the past 12 months.

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.

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.

Dubai, India -- A Monday report by Reuters said that French retailer Auchan has entered into a franchise agreement with Max Hypermarket, India.

Max operates 13 hypermarkets in India, which will be rebranded as Auchan stores in early 2013.

The pair said they plan to open 12-15 new stores annually across India. Because Max Hypermarket India Ltd is controlled by retail and hospitality company Landmark Group, which operates hypermarkets under the Max brand only in India and therefore is not restricted under foreign ownership regulations.