Supply Chain & Merchandising

New York -- Sears Canada reported a net loss in its first quarter of C$31.2 million ($30.3 million) compared with a net profit of C$93.1 million, a year earlier amid weakened demand for major appliances and home products.

Revenue fell more than 6% to C$867.1 million. Same-store sales fell 2.6%.

The company also named E.J. Bird as CFO. Bird was appointed interim CFO in March, two months after Sharon Driscoll resigned from the post.

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.

NASHVILLE, Tenn. — Dannon is leveraging IBM's cloud-based predictive analytics in an attempt claim the number one spot, currently held by Chobani, in the $7 billion U.S. yogurt market. 

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.

Framingham, Mass. – The TJX Companies, Inc. reported increased net sales during first quarter fiscal 2014. Revenue rose almost 7% from the same quarter a year earlier to about $6.2 billion, while same store sales grew 2% on top of an 8% increase from last year. Net earnings totaled $453 million.

CEO Carol Meyrowitz said that a flexible business model allowed TJX to have a profitable quarter despite adverse weather conditions. “Flowing the right merchandise at the right time continued to be key to strong merchandise margins,” she said.

LENEXA, Kan. — Balance Innovations, a provider of reconciliation and cash office management solutions for the retail industry in the United States and Canada, has named former Safeway executive Steve Rempel president and CEO. 

In this role, Rempel will lead the company as it further develops its core products and evolves to the next generation of cash office reconciliation solutions for the retail industry.

PITTSBURGH — Although Dick’s Sporting Goods reported a year-over-year increase in revenues for first quarter 2013, performance still fell short of Wall Street expectations.

The sporting goods retailer reported first quarter revenues of $1.33 billion, a 4% increase from $1.28 billion. However, analysts expected revenues for the quarter to total $1.36 billion.

Net income grew 13%, from $57.2 million to $64.8 million.

MINNEAPOLIS — Store closures and a shift in this year’s Super Bowl affected Best Buy’s results for the 13-week period ended May 4.