Business Analytics

Jacksonville, Fla. -- Stein Mart Inc. announced Friday that it will restate its financial statements for fiscal years 2009, 2010 and 2011, its quarterly data for the first quarter of 2012 and for all quarters in 2010 and 2011, as well as its selected financial data for the relevant periods due to merchandising accounting errors.

Satellite Beach, Fla. -- Lighting Science Group Corp. has collaborated with Applebee’s Neighborhood Grill & Bar to monitor, evaluate and markedly reduce energy usage for lighting in Applebee’s 23 company-owned restaurants. Through the installation of ultra-efficient and design-enhancing LED lamps, Applebee’s should net an energy reduction for lighting of 88% per year.

Dallas -- J.C. Penney Co. Inc. on Friday reported a 26.1% decline in third-quarter same-store sales, more than the 17.9% that Wall Street analysts were expecting.

Overall sales fell 26.6% to $2.93 billion. Internet sales fell 37.3% to $214 million.

The company said that its net loss narrowed to $123 million in the third quarter ended Oct. 27, from $143 million a year earlier. The loss was wider than analysts had expected.

MENOMONEE FALLS, Wis. — Kohl’s third quarter sales increased 2.6% to $4.5 billion, and comparable-store sales were up 1.1%, in line with the company's expectations.

The retailer's net income for the third quarter rose 14% to 91 cents per diluted share. Net income was $215 million compared with $211 million, or 80 cents per diluted share, a year ago.

Cincinnati – Macy’s on Wednesday reported a better-than-expected 4.3% increase in third-quarter net income, helped by sales gains, and slightly raised its full-year profit outlook.  

Macy’s also announced that it will discontinue reporting monthly sales, beginning in fiscal 2013. Sales will continue to be reported quarterly, along with earnings and cash flow.

If the economy is improving someone forgot to tell Office Depot’s customers. The company reported a third quarter loss of $70 million loss on sales that declined 5% to $2.7 billion.

WOONSOCKET, R.I. — Coming off a strong third quarter, CVS Caremark executives expressed confidence that the company’s integrated retail/pharmacy benefit manager model and the unique programs and services it is able to deliver customers and clients are “making the difference,” president and CEO Larry Merlo told analysts during a Tuesday morning earnings call.

Boca Raton, Fla. -- Office Depot Inc. reported Tuesday a loss of $61.9 million for the third quarter, compared with net income of $100.9 million in the same period last year. Results still edged analysts’ expectations.

Revenue dropped 5.1% to $2.69 billion, missing Wall Street’s expected $2.89 billion revenue mark.

Revenue for the office supply chain has fallen for the past three quarters.

Naperville, Ill. -- OfficeMax Inc. reported Tuesday that net income for the third quarter jumped to $433.5 million from $22 million in the same period last year, as the office supply retailer eliminated non-recourse debt guaranteed by Lehman Bros. Holdings from its books.

Revenue dipped 1.7% to $1.74 billion, missing Wall Street’s expected $1.87 billion. Same-store sales fell 2.1%.

West Bridgewater, Mass. -- Supervalu said Monday it has cut about 700 store-level positions at the company’s Shaw's and Star Market stores in New England.