Mass Merchant

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. 

Pittsburgh -- Dick's Sporting Goods reported Tuesday that net income for the first quarter rose to $37.5 million, compared with $26.2 million a year earlier.

Net sales increased 6.3% to $1.1 billion. Same-store sales rose 2.1%.

The retailer will open 34 new Dick's Sporting Goods stores in 2011, as well as remodel 14 existing locations. It also plans to open approximately three Golf Galaxy stores and relocate one Golf Galaxy store this year.

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.

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.

I’m not sure if you’ve noticed, but it seems like you can’t pick up a paper or click a mouse lately without reading about some big box retailer rolling out its smaller store format. Target has its new 60,000-square-foot CityTarget concept, while Walmart has Walmart Neighborhood Market and Walmart Express stores. It seems like everyone is downsizing.

New York City -- Dillard’s will pay $50,000 and provide additional, unspecified relief to settle an age discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the Triangle Business Journal reported.

Target has awarded its 2010 Partner Award of Excellence to Munchkin, a designer and manufacturer of clever infant and toddler products. Target presents the award to select companies across various companies. Munchkin took home the top honor in the newborn/infant/toddler category.

An increase promotional efforts in April contributed to Target’s 13.1% monthly same store sales gain, according to new data from the promotional intelligence firm Market Track.