Supply Chain & Merchandising

Traffic problems continued to hinder Staples in the first quarter even as the company awaits regulatory approval of its merger with Office Depot. 

MINNEAPOLIS —Target Corp. on Wednesday reported a larger-than-expected increase in first-quarter profit amid signs that its efforts to refocus and revamp its product lineup are taking hold. Target executives said they are “pleased” with its first quarter, particularly the performance of  its signature categories, as the retailer also posted a lift in sales and double-digit gains in its digital channel.

Target’s efforts to revamp its product assortment are apparently paying off for the company, which reported a nearly 52% surge in first quarter profit on strong sales of fashion, home and beauty products.

The company posted a profit of $635 million for the three months that ended May 2. Same store sales rose 2.3%, beating forecasts. Revenue rose 2.8% to $17 billion. Online sales rose nearly 38%.

Conshohocken, Pa. -- Ikea has submitted plans to the city of Joliet, IL for a second distribution center – to accompany the center previously announced and planned to open in summer 2017.

In February 2015, Ikea advanced the development of its previously approved 1.4-million-sq.-ft. Midwest distribution center on 72 acres of land already purchased in Joliet/ The company is now proposing another, similarly sized facility on 62 acres it hopes to purchase adjacent to the west of the currently planned first building.

Pittsburgh -- American Eagle Outfitters on Wednesday reported first-quarter net income of $29.1 million, up from $3.9 million a year ago, amid higher sales and fewer promotions. It results beat Wall Street expectations.

The retailer posted better-than-expected revenue of $699.5 million for the quarter ended May 2, up 8% from $646.13 million a year ago.

Total same-store sales rose 7%.

Grand Rapids, Mich. — Meijer announced Wednesday that it has signed an agreement to acquire Aureus Health Services, a national specialty pharmacy and health services company based in Pittsburgh, and a portfolio company of BelHealth Investment Partners, to enhance its customer offerings, particularly to patients with complex chronic conditions.
 

Walmart is more than doubling the number of veterans it plans to hire by the year 2020.

A month after being named America's favorite home improvement store, Ace Hardware reported record profit in the first quarter of 2015.