Supply Chain & Merchandising

Wal-Mart Stores surprised the industry on Thursday with better-than-expected profit and revenue for the second quarter. The chain raised its full-year outlook in the wake of its strong performance.    The retailing giant reported that its net income rose 8.6% to $3.8 billion in the quarter ended, up from $3.5 billion in the year-ago period.    Total revenue rose 0.5% to $120.85 billion in the quarter, slightly above analysts' projection.   

Cole Haan has opened a global flagship at the just-opened Westfield World Trade Center in lower Manhattan. And the retailer is making it easy for shoppers to get there by linking up with Uber.  

Urban Outfitter Inc. turned in a better-than-expected performance in the second quarter amid increased sales and fewer promotions and markdowns.   “Urban has now regained its position as the brand leader for young people,” said Urban Outfitters CEO Richard A. Haynes during the chain’s quarterly conference call.  

The Northfield Crossing Shopping Center in Murfreesboro, Tennessee, that featured a Hastings Entertainment store has been purchased by Baker Storey McDonald Properties on behalf of an unnamed client. Terms of the sale were not disclosed.   Meanwhile, RCS Real Estate Advisors announced it would be auctioning off 120-plus store leases for the bankrupted music, movie, and video game retailer. The chain’s inventory was purchased by Hilco Merchant Resourses and Gordon Bros. Retail Partners in a Chapter 11 filing.   

Mooresville, North Carolina-based Lowe’s reported modest second-quarter growth. It also had a message for RONA employees in Canada: welcome to the team.

American Eagle Outfitters’ profit, revenue and same-store sales increased in the second quarter, with its results topping expectations.   The chain posted a profit of $41.6 million for the quarter, up 25% from $33.3 million in the year-ago quarter.   Total net revenue increased 3% to $823 million, from $797 million in the year-ago period.   Consolidated same-store sales increased 3%.   

J.C. Penney keeps getting more bullish.   The retailer on Thursday outlined an array of new initiatives as part of a three-plan to drive profit and accelerate growth. The company also detailed financial goals, and said it expects to reach nearly half a billion dollars in profit by 2019.  

Fred’s on Tuesday announced its new executive VP and chief merchandising and marketing officer, Mary Lou Gardner. Gardner will be replacing Bryan Pugh, who has resigned from the company, effective immediately.