Sales & Marketing

Framingham, Mass. -- Staples reported that its first-quarter profit was $169.9 million, down from $187.1 million in the year-ago period, hurt by a stronger dollar and weak same-store  sales in North America and Europe. Its results missed Wall Street forecasts.

Total sales fell 3.5% to $5.81 billion, also falling short of estimates. In North America, same-store sales were down 2% on weak demand for computers, software and technology accessories.

FRAMINGHAM, Mass. — Staples was hurt by a stronger dollar and weak same-store sales in North America and Europe. 

The office products company reported that its first-quarter profit for the period ended May 4 was $169.9 million, down from $187.1 million in the year-ago period. Its results missed Wall Street forecasts.

Total sales fell 3.5% to $5.81 billion, also falling short of estimates. In North America, same-store sales were down 2% on weak demand for computers, software and technology accessories.

Pittsburgh -- American Eagle Outfitters Inc. earned $28 million in its first quarter, down from $39.7 million in the same quarter last year, as cooler weather hurt demand for its spring fashions and some special charges cut into its results. But the retailer still beat market expectations.

In related news, American Eagle Outfitters will invest more than $160 million to construct a new direct-to-consumer distribution center in Hazle Township, Pa.

MINNEAPOLIS — Colder weather and more conservative shoppers contributed to a drop in Target's first quarter 2013 profits, but the company's underlying business remains healthy, executives said Wednesday morning in a conference call with investors.

"While we are not satisfied with this quarter's performance, we remain highly confident in our strategy," president, chairman and CEO Gregg Steinhafel said during the call.

Memphis – AutoZone reported net sales of $2.2 billion for third quarter fiscal 2013, representing a 4.5% increase from $2.1 billion during the same period in fiscal 2012. Meanwhile, net income increased almost 7% from $248.6 million to $265.6 million. Same store sales experienced a slight 0.1% dip compared to third quarter fiscal 2012.

SHANGHAI — Hershey is heading to China to launch a candy brand called Lancaster, marking the first time in its 120-year history that the company has launched a new brand outside of the United States. It’s also the first time in 30 years that Hershey launches a brand that is neither a brand extension nor an acquisition.

The brand will be available in the cities of Wuhan, Hangzhou and Chengdu in June, with wider distribution following next year. 

Philadelphia – Urban Outfitters, Inc. reported stronger than expected net sales, which drove a 39% increase in net earnings. The specialty retailer reported record total net sales of $648 million during first quarter fiscal 2014, up 14% from $568 million in the same quarter last year. Net earnings for the quarter were $47 million, higher than analyst expectations and up 39% from first quarter fiscal 2013.

PROVIDENCE, R.I. — CVS Caremark president and CEO Larry Merlo has been named the 2013 March of Dimes Rhode Island 2013 Citizen of the Year for his and the company’s ongoing support of the March of Dimes mission.

Merlo will be honored for the achievement at a June 18 reception held at the Providence Public Library. The recognition and fundraising event will take place as part of the 75th anniversary year of March of Dimes and the 50th anniversary year of the pharmacy innovation company.