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  • Comps decline 4.7% at Kmart

    Things are looking up for Sears Holdings. The company only lost $132 million during its second quarter.

  • Gap Q2 profit climbs 29%; raises guidance

    San Francisco -- Gap Inc. reported Thursday that net income for the quarter ended July 28 surged 29% to $243 million, prompting the retailer to raise its guidance for full-year 2012.

    Sales increased 6% to $3.58 billion, compared with $3.39 billion for the second quarter last year. Same-store sales rose 4%.

    “Our continued focus on product and store execution are helping to drive positive momentum and we’re committed to sustaining solid performance for the remainder of the year,”said Glenn Murphy, chairman and CEO.

  • Nordstrom introduces iPad app

    Seattle -- Nordstrom said Friday it has debuted a new iPad app that will allow its customers to browse and purchase merchandise via their iPad tablets.

  • Hibbett profit rises 33% in Q2; on track to open 55-60 stores in fiscal 2013

    Birmingham, Ala. -- Hibbett Sports reported Friday that net income for the quarter ended July 28 surged 32.9% to $7.9 million from $5.9 million in the comparable-year period.

    The retailer reported a net sales increase of 8% to $165.4 million compared with $153.1 million for the same period last year. Same-store sales increased 4.8%.

    The company increased its earnings guidance for fiscal 2013 and said it is on track to open 55 to 60 new stores, expand approximately 15 high performing stores and close up to 18 underperforming stores.

  • Toys “R” Us continues to expand in China

    Wayne, N.J. – Toys “R” Us opened its first stores in Beijing last weekend, marking its continued expansion across China.

  • Foot Locker wears a size 10.6

    A double-digit comps increase propelled the athletic footwear chain’s 63% second quarter earnings surge.

  • Ross Stores profit jumps 23%; outlines succession plan

    Pleasanton, Calif. -- Ross Stores Inc. reported Thursday that net income for the quarter ended July 28 jumped 23% to $182 million, from $148.3 million in the year-ago period. Results met Wall Street expectations, but the company issued profit predictions for the current quarter and full year that were below average forecasts. Same-store sales rose 7% in the quarter.

  • The words no investor wants to hear

    It may be the right thing to do long-term, but Walmart’s plans to slow growth in China, Mexico and Brazil didn’t sit well with investors this week.

    The revelation that Walmart would add between 21 and 23 million square feet of space versus the previously planned addition of 30 to 33 million square feet will result in Walmart International spending between $4.6 billion and $5 billion compared to a previously budgeted amount of $5 billion to $5.5 billion.

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