Business Analytics

Phoenix – PetSmart reported a 12% increase in net income, to $92 million from $82 million a year earlier, during the third quarter of 2013. Total sales grew about 4%, to $1.69 billion from $1.62 billion, while same-store sales increased 2.7%.

Looking ahead, PetSmart predicts same-store sales growth of 3%-3.5% and total sales growth of approximately 3% for fiscal 2013. For the fourth quarter of fiscal 2013, PetSmart forecasts same-store sales growth of 2.5%-3.5% and a 2%-3% decrease in total sales.

Pleasanton, Calif. -- Ross Stores Inc. reported third-quarter profit of $171.6 million, up from $159.5 million a year earlier, on higher sales and gross margins. Looking ahead to the fourth quarter, the off-retailer forecast earnings below Street estimates and said it was adopting a more cautious outlook for the quarter.

PetSmart’s third quarter results benefited from consumers who continue spending money on their pets despite a still-challenging consumer environment.

The company’s earnings per share jumped 17.3% to $0.88 from $0.75 in the third quarter of 2012. Net income totaled $92 million for the quarter, compared to $82 million in last year’s third quarter.

Higher sales, including mid-single digit comparable -sales growth, helped drive Ann Inc.’s third quarter results.  

The company posted third-quarter earnings of $41.2 million, compared to $40.7 million in the year-earlier quarter. Net sales grew 7% to $657.3 million from $612.5 million. Total same-store sales increased 3.7%. By brand, same-store sales inched up 0.6% at Ann Taylor and 5.6% at Loft. However, sales fell 6.9% in the Ann Taylor Factory channel.

Buoyed by its performance during Back to School season, Hibbett Sporting Goods sounded an optimistic tone regarding the holidays after reporting a surprisingly strong third quarter comp increase.

The operator of 904 stores in 31 states said its same store sales increased 4.8% and total sales increased 2.5% to $208 million during the quarter ended November 2.

Apprehension regarding shoppers’ willingness to spend during the shortened holiday season has reached the point where even retailers presumably well positioned to benefit from frugality are sounding alarms.

The most recent is Ross Stores vice chairman and CEO Michael Balmuth who shared his concerns about the fourth quarter even as the operator of 1,154 stores reported third quarter sales that were in line with expectations and profits that exceeded guidance due to margin expansion.

San Francisco -- Gap Inc. reported a 9.4% increase in third-quarter profit as the retailer's turnaround continues. The company also reaffirmed its full-year profit guidance and said it is increasing its stock buyback authorization by $1 billion.

The chain posted net income of $337 million in the three-month period ended Nov. 2, compared with $308 million last year.

Jacksonville, Fla. -- Stein Mart reported a return to profit in the third quarter, recording net income of $28,000 for the period ended Nov. 2, compared with a loss of $1.7 million last year. Results matched Wall Street expectations.

Revenue climbed 6% to $290.5 million from $273.7 million, topping Wall Street's estimate of $287.9 million. Same-store sales rose 4.8%.

New York -- Bon-Ton Stores narrowed its loss in the third quarter to $931,000, compared with a loss of $10.1 million in the year-ago period.

Revenue dipped 3% to $651.2 million from $668.7 million, narrowly missing analysts’ expected $671.2 million in revenue.

Same-store sales fell 2.8%.

Minneapolis -- Target Corp.'s third-quarter net income fell 47%, hurt by costs related to its Canadian expansion. Its adjusted profit beat analysts' estimates, but sales fell short. The retailer lowered its full-year adjusted earnings forecast.

For the three months ended Nov. 2, Target earned $341 million, or 54 cents per share, down from $637 million in the year ago period. Removing Canada-related expansion costs and other items, earnings were 84 cents per share.