eCommerce

NEW YORK — Saks Inc. announced reported net income of $28.4 million, or 16 cents per diluted share, for the first quarter. For the prior year first quarter, the company recorded net income of $18.8 million, or 11 cents per diluted share. 

Stephen Sadove, chairman and CEO, noted, "I am very pleased with our first quarter results. Our improved year-over-year performance was driven by a 10.2% comparable-store sales increase and continued gross margin rate improvement."

BENTONVILLE, Ark. — Walmart reported first-quarter earnings that were above the company's guidance, reflecting stability and strength in global operations, according to president and CEO, Mike Duke.

Walmart's net income was $3.4 billion, or 98 cents per diluted share, compared with net income of $3.3 billion, or 87 cents per diluted share. 

LONDON — Wal-Mart Stores' Asda division Asda confirmed that it was exploring opportunities to franchise its George at Asda range in markets overseas.

The company expects to announce its first overseas franchising partner in the next few months with the intention of establishing a small number of pilot stores in the Middle East in the first half of 2012.

George currently accounts for around half of Asda’s general merchandise sales and is already a growing global brand through Walmart stores in seven countries worldwide, the company reported.

Target ranked 49th on a list of the nation’s 100 largest online retailers based on an annual assessment conducted by the research firm ForeSee Results. The firm said that customer satisfaction with e-tailers is at an all time high with an overall median score of 78 on a scale of 100. Target scored a 78 compared with top-ranked Amazon.com at 86 and bottom ranked RueLaLa.com at 70. The company could make a major move up the ranking by this time next year as a major relaunch of Target.com is planned for this fall just as millions of shopper head online for holiday shopping.

PLANO, Texas — JCPenney posted first-quarter net income and comparable-store sales growth thanks to strong growth in key categories and better management of expenses. 

PHILADELPHIA — Urban Outfitters announced net income of $39 million, or earnings per diluted share of 23 cents for the first quarter ended April 30, compared with net income of $53 million, or earnings per diluted share of 31 cents.

Total company net sales rose by 9% over the same quarter last year to $524 million. Comparable retail segment net sales, which includes direct-to-consumer channels, decreased 1% for the quarter while comparable store net sales decreased 5% for the quarter. 

ST. PETERSBURG, Fla. — Samantha Brown, the popular Travel Channel host, has partnered with HSN to launch Samantha Brown Luggage, her first-ever exclusive collection of travel gear. 

"I want to help travelers simplify their lives as they experience the world with luggage that's functional and fashionable at accessible price points," said Brown.

SAN FRANCISCO — Gap Inc. has announced plans to bring the Gap brand to Serbia and Ukraine through new agreements with existing franchise partners. The stores are scheduled to open in 2011 in the cities of Belgrade and Kiev where customers will be able to shop products from Gap, GapKids and babyGap.