Mass Merchant

Blend equal parts easy prior year comparisons, the recent easing of gas prices with the pass through of product inflation , and Walmart could be looking at the recipe for same-store sales growth. If not in the third quarter, then certainly by the fourth quarter, which is the line in the sand the company has drawn for its U.S. business.

Chesapeake, Va. -- Dollar Tree reported Thursday that net income for the quarter ended July 31 surged 21.7% to $94.9 million, compared with $78 million in the year-ago period. The rise marks the fifth straight quarter of double-digit profit increases.

Revenue rose 12% to $1.54 billion, just missing Wall Street estimates. Same-store sales increased 4.7%.

NEW YORK — Macy’s announced Giambattista Valli as the fourth designer in its collaboration series to create a capsule collection for the retailer’s fashion “Impulse” department later this fall. Known for extravagant designs and great party dresses, the collection will be Valli’s first foray into affordable fashion, the company reported.

Pleasanton, Calif. -- Ross Stores reported Thursday that profit for the quarter ended July 31 rose 15% to $148.3 million, compared with $129.3 million a year earlier.

Sales for the quarter increased 9% to $2.1 billion, and same-store sales rose 5%.

“Our ability to increase the percentage of fresh name brand bargains our customers see, while also strictly controlling inventories and expenses, has enabled us to capitalize on our favorable position as a value retailer," said Michael Balmuth, vice chairman and CEO.
 

Walmart beat analysts’ second quarter earnings estimates by a penny when it reported earnings per share of $1.09. The company also touted the fact that it was raising its full year profit forecast, although it did so by the one cent of additional profit it had already banked during the second quarter. Walmart said it now expects full year profits to total between $4.41 and $4.51 versus prior guidance of $4.35 to $4.50.

MINNEAPOLIS — Target reported second quarter earnings per share of $1.03 that beat analysts’ estimates by a nickel, and the company elevated its full year profit forecast amid ongoing success of key initiatives.

Retail sales increased 5.1% to $15.9 billion from $15.1 billion thanks to a 3.9% same-store sales increase and the addition of several new stores. Operating profit for the retail business increased at a slower rate, rising 4.6% to $1.147 billion from $1.096 billion.

Westborough, Mass. -- BJ's Wholesale Club reported Wednesday that net income for the quarter ended July 30 increased 28% to $45.7 million, compared with $35.7 million in the year-ago period.

The warehouse club operator said revenue rose 11% to $3.05 billion from $2.75 billion, beating an expected $2.98 billion. Revenue from membership fees increased to $51.8 million from $47.5 million, while net sales rose to $2.98 billion from $2.69 billion. Same-store sales rose 7.8%, including a 4% contribution from fuel sales.