Sales & Marketing

That didn’t take very long.    Barnes & Noble on Tuesday announced the abrupt departure of CEO Ronald D. Boire, who has held the position for just under a year.    In a short and bluntly-worded statement, the book-seller announced that its board had determined that Boire “was not a good fit for the organization and that it was in the best interests of all parties for him to leave the company.”      

The big get bigger.   The Home Depot reported record sales and net income as it revised upward its expectations for the full year.   The world’s largest home improvement retailer Tuesday morning posted second quarter sales of $26.5 billion, up 6.6% from the second quarter a year ago. Comparable store sales were up 4.7%, and up 5.4% in the U.S.   Net earnings were $2.4 billion, up from $2.2 billion.  

Dick’s Sporting Goods on Tuesday hit a home run, posting second quarter results that surpassed analysts’ expectations and lifting its earnings forecast for the year.   Dick's reported net income of $91.4 million for the quarter ended July 30, up from $90.8 million in the year-ago period.   Net sales increased 7.9% to $1.97 billion. Online penetration for the second quarter was 8.5% of total net sales, compared to 7.3% last year. Same-store sales increased 2.8%.   

Ralphs is inviting customers to take advantage of the convenience of online grocery shopping at its Carlsbad, Calif., store, and the retailer plans to expand the service company-wide by the end of the year.

Walmart has launched an unusual program to combat crime in its stores.   In an experiment, the chain is dealing with shoplifters on its own terms through an initiative called “Restorative Justice,” Time.com reported.  

There was no stopping TJX Cos. in its second quarter. But it sounded a cautious note about its third quarter.   For the quarter ended July 30, TJX posted a profit of $562.2 million, better than analysts’ forecasts, up from $549.3 million in the year-ago period.   Revenue increased 7% to a better-than-expected $7.88 billion. Same-store sales rose 4%, above expectations for an increase of 2% to 3%.  

PREIT announced it had completed the sale of the Washington Crown Center in Washington, Pennsylvania, to the Kohan Retail Investment Group for $20 million. The 674,000-sq.-ft. mall — 25 miles south of Pittsburgh on I-70 — is anchored by Bon-Ton, Macy's, Gander Mountain, and Sears.   

Groupon, One Kings Lane and ModCloth have the top-rated mobile apps in the retail industry.   That’s according to a study conducted by Application Resource Center, which analyzed data taken from 1.2 million user reviews posted on the Apple and Google Play app stores for 50 retailers. (The retailers were reviewed represented the retailers with the most mobile app sales in 2015.)