Business Analytics

MINNEAPOLIS — Profits at Target grew 10.2% to 82 cents in the third quarter compared with 74 cents the prior year thanks to healthy sales growth and ongoing improvement in the company’s credit card business. 

Pittsburgh -- Dick's Sporting Goods Inc. reported Tuesday that net income for the quarter ended Oct. 29 surged to $41.5 million, from $16.9 million in the year-ago period.

Revenue rose 9% to $1.18 billion from $1.08 billion, beating Wall Street’s anticipated $1.16 billion in revenue.

Same-store sales rose 4.1%.

Framingham, Mass. -- TJX Cos. reported Tuesday that profit for the quarter ended Oct. 29 rose 15% to $406.5 million, from $372.3 million a year earlier.

Sales increased 5% to $5.79 billion from $5.53 billion, but missed analysts’ expected $5.84 billion. Same-store sales rose 3%.

During the quarter, the retailer increased its store count by a net of 52 stores and increased square footage by 1% over the same period last year.
 

Framingham, Mass. -- Staples Inc. reported Tuesday that profit for the third quarter climbed 13% to $326.4 million, from $288.7 million a year earlier. Earnings met Wall Street expectations.

Revenue rose 1% to $6.57 billion from $6.54 billion, missing analysts’ expected $6.71 billion. North American retail unit revenue was flat at $2.7 billion, with same-store sales down 1%. International revenue slid 7% on a local currency basis to $1.3 billion, leading the retailer to adjust its full-year forecast downward.

Atlanta -- Home Depot Inc. reported Tuesday that net income in the third quarter rose 12% to $934 million, compared with $834 million in the year-ago period. Storm-related repairs and spending on home projects gave the home-improvement retailer a third-quarter boost.

Revenue rose 4% to $17.33 billion from $16.6 billion last year, beating Wall Street’s expected $17.11 billion in revenue.

Same-store sales rose 4.2% globally and 3.8% in the United States.

New York City -- Saks Inc. reported Tuesday that profit for the quarter ended Oct. 29 slid to $17.8 million from $36.3 million a year earlier, still beating Wall Street expectations. Last year’s results were boosted by a large tax reserve-related gain.

Revenue rose 5% to $692.3 million from $658.8 million, surpassing analysts’ predictions of $690.6 million. Results were boosted by more full-price selling and fewer promotions.
 

Mooresville, N.C. -- Lowe's Cos. reported Monday that net income for the quarter ended Oct. 28 dropped 44% as store-closing charges undercut a slight uptick in quarterly sales.

The home-improvement retailer reported net earnings of $225 million, compared with $404 million in the year-ago period. Charges related to store closures amounted to a pre-tax earnings reduction of $336 million.

Sales increased 2.3% to $11.9 billion, up from $11.6 billion a year earlier. Same-store sales edged up 0.7%, reversing declines in two prior quarters.

NEW YORK — Further proof that the sluggish economy is affecting higher-income households much less than lower-income households can be found in the quarterly profits of Dillard's and Nordstrom's, which both reported earnings this week.

Dillard’s Inc. reported Friday that profit for the quarter ended Oct. 29 soared a record 85% to $26.6 million, compared with $14.4 million in the year-ago period. Strong comps and contained expenses propelled the strong performance.

ROANOKE, Va. — Advance Auto Parts is raising its full year EPS outlook following an impressive 37% increase in third quarter earnings. According to Mike Norona, EVP and CFO, the company now expects its annual 2011 EPS outlook to be $4.90 to $4.95. For the third quarter, the cmpany reported that earnings per diluted share were $1.41 compared with $1.03 for the same period last year.

Atlanta -- A report released Thursday by First Data Corp., which tracks same-store consumer spending by credit, signature debit, PIN debit, EBT cards and checks at U.S. merchant locations, found that, in October, dollar volume growth held steady at 9.4% versus September’s growth of 9.5%.

Overall transaction growth improved to 7.5% in October from 7.1% in September. Inflation continued to be evident in the food sector as Food/Beverage Stores posted average ticket growth of 2.3% for the second consecutive month.