Mass Merchant

Walmart continues to envision flat same store sales at its U.S. stores after reporting weaker than expected profits on weak U.S. sales results that were negatively affected by a winter that wouldn’t end.

Bentonville, Ark. -- Wal-Mart Stores posted disappointing results for its first quarter, with earnings down 5% as harsh winter weather kept shoppers away. The company also gave a weak earnings forecast for its current quarter that fell short of analysts' estimates.

For the period ended April 30, Wal-Mart earned $3.59 billion, compared with $3.78 billion a year ago, less than analysts expected. In addition to the unusually harsh winter weather, a higher-than-expected tax rate also hurt earnings, the retailer said.

By Evan Gold, VP of client services, Planalytics

The winter of 2014 brought record cold and snow throughout North America and its impact on business and consumer spending were widespread and significant. How impactful was it? Well, for the S&P 500 companies, the word “weather” was mentioned in almost 200 earnings calls from January through March, which is a 81% increase compared to last year.

Kohl’s joins a growing list of retailers whose first-quarter results took a hit from a severe and extended winter. Despite missing estimates, the company is staying firm on its guidance for the full fiscal year.

Arlington, Va. - The Retail Industry Leaders Association (RILA), along with several retail brands, has launched the Retail Cyber Intelligence Sharing Center (R-CISC), the centerpiece of which is a Retail Information Sharing and Analysis Center (Retail-ISAC).

Golfer Blayne Barber will partner with C9 by Champion, Target’s exclusive line of activewear, while competing on the Web.com Tour this season. The 24-year-old Lake City, Fla., native joins a roster of 12 other athletes supported through Target’s athlete program, and is the first to represent the C9 by Champion brand.

Melville, N.Y. - Global Facility Management & Construction is naming two new members of its management team. Bruce Wollmuth has been named construction manager, leading a team of construction project managers.

Sears Holdings plans to hire an investment banking firm to explore strategic alternatives regarding its 51% ownership stake in Sears Canada.

The strategic alternatives are said to include the potential sale of Sears Holdings’ interest or Sears Canada as a whole, according to a statement by the Hoffman Estates, Ill.-based company. In a separate statement, Sears Canada said its board of directors intended to cooperate fully with Sears Holdings in the strategic alternatives exploration process to achieve full value for all shareholders.