Mass Merchant

On the heels of another successful quarter from off-price rival TJX, Ross Stores Inc. also reported a spike in same store sales for the second quarter.

For the second quarter ended Aug. 1, Ross Stores says net earnings rose 8% to $259 million from $240 million the same quarter the prior fiscal year. Sales rose 9% to $2.97 billion from $2.73 billion, with same-store sales up 4%

Minneapolis – First Best Buy became the first national retailer, other than Apple Stores, where customers can buy the Apple Watch. Now Best Buy will reportedly become the first national retailer outside of Apple Stores to offer the Apple Care warranty program.

Thanks to some financial engineering, Sears Holdings overcame a double digit decline in same store sales to produce a second quarter profit or a less severe loss depending on the arithmetic used.

Stage Stores Inc. lowered its profit forecast for the year and said it plans to close at least 90 underperforming stores as the retailer invests more on digital.

The retailer said it expects the closures to enhance its capital efficiency, deliver higher productivity and allow it to invest more money in the online sales product mix and technology in general.

Hoffman Estate, Ill. — A one-time gain of $2.7 billion from the creation of its publicly-traded Seritage Growth Properties real estate investment trust (REIT) pushed Sears Holdings Corp, into the black for the first time since 2012. Sears reported net income of $208 million in the second quarter of fiscal 2015, compared to a net loss of $573 million the same period the prior fiscal year.

L Brands Inc. continues to elude the troubles that have plagued other mall retailers, as the company reported a spike in same store sales.

The parent company of Bath and Body Works and Victoria's Secret said earnings per share for the second quarter ended Aug. 1 increased 8% to 68 cents compared to 63 cents for the quarter ended Aug. 2, 2014. Net income was $202.5 million compared to $188.4 million last year. Same store sales increased 4%.

London, U.K. — Online retailing giant Amazon.com is the retail industry's fastest growing social media brand. According to the latest Retail Social Media Benchmark results from eDigitalResearch, Amazon tops both the Facebook and Twitter social media rankings.

Amazon climbed to the benchmark's top spot, thanks in part to its recent Prime Day sales event, having gained more than 1.2 million new followers on its Twitter account since the last wave back in March.

Veteran finance executive and former top Walmart executive Wan Ling Martello has joined the board of directors of Alibaba as the Chinese e-commerce giant eyes growth in the U.S.