Supply Chain & Merchandising

PITTSBURGH — Dick's Sporting Goods has raised its full year and second quarter outlooks after reporting substantial growth in sales and earnings for the first quarter. The company reported that net income for the quarter was $57.2 million, or 45 cents per diluted share, exceeding the company's earnings expectations provided on March 6 of 36 cents to 38 cents per diluted share. For the first quarter ended April 30, 2011, the company reported consolidated net income of $37.5 million, or 30 cents per diluted share.

Austin, Texas -- Golfsmith reported Tuesday that it posted a loss of $3.6 million in the first quarter, compared with a loss of $3.1 million in the year-ago period.

Sales improved 11% to $90.5 million for the quarter. Same-store sales grew 8.5%.

Derby, Conn. -- DLC Management Corp. and Hutensky Capital Partners have announced a joint-venture acquisition of Walmart Plaza, a 199,393-sq.-ft. shopping center in Derby, Conn.

Anchored by Walmart, Adams Hometown Market and CVS, the center adds to DLC’s Connecticut holdings of nine shopping centers and 1.4 million sq. ft.
 

New York -- Saks Inc. reported Tuesday that net income for the quarter ended April 28 rose 13.2% to $32.1 million, from $28.4 million last year.

Revenue for the period climbed 3.8% to $753.6 million, missing Wall Street’s expected $762.6 million. Same-store sales rose 4.8%.

SAN LUIS OBISPO, Calif. — Shopatron, the flexible fulfillment company, has announced the appointment of Dave Morrison as its CFO.

New York -- General economic conditions, U.S. and foreign supplier vendor concerns, and competition/consolidation are the top three risk factors cited by retailers, according to a new study by BDO USA, LLP, a leading accounting and consulting firm. Rounding out the top five: federal, state and local regulations, and terrorism, natural disasters and geo-political events.

FRAMINGHAM, Mass. — The TJX Companies reported that net sales for the first quarter of fiscal 2013 increased 11% to $5.8 billion and consolidated comparable-store sales increased 8%. Net income for the first quarter was $419 million and diluted earnings per share were 55 cents.

Chicago -- Galleria Retail Technology Solutions said Tuesday that Lithuanian retailer Maxima Grupe will use a range of Galleria solutions to automate and optimize its merchandising strategy.

Maxima plans to implement Intelligent Store Optimization, Behavioural Cluster Planning, Customer Centric Merchandising and Galleria Foundation Services in more than 400 stores across Eastern Europe, according to Edvinas Volkas, chief food purchaser at Maxima group.