Business Analytics

UNION, N.J. — Bed Bath & Beyond dominates the home and housewares retail space by consistently reporting strong revenue and earnings growth, and this quarter was no exception.

The company reported net earnings of 72 cents per diluted share ($180.6 million) in the fiscal first quarter ended May 28, an increase of approximately 38% versus net earnings of 52 cents per diluted share ($137.6 million) in the same quarter a year ago.

Union, N.J. -- Bed Bath & Beyond reported Wednesday that net income for the first quarter jumped 31% to $180.6 million, compared with $137.6 million in the year-ago period.

Revenue surged 10% to $2.11 billion, and same-store sales rose 7%. Results surpassed Wall Street expectations of $2.07 billion in revenue.

Bed Bath & Beyond has raised its outlook, now expecting full-year earnings to rise 15% to 20% over last year.
 

FORT MYERS, Fla. — Chico's has named Pamela Knous EVP, CFO and chief accounting officer. Knous assumes the principal finance, accounting, investor relations, and strategic planning responsibilities currently under the direction of Kent Kleeberger, who was appointed to the position of EVP, COO in March. Knous is expected to join the company on June 23 and will report directly to Chico's president and CEO, David Dyer.

Stockholm, Sweden -- Hennes & Mauritz AB reported Wednesday that net income for its 2Q dropped 18% to $673 million, from $817 million in the year-ago period.

The Swedish fashion retailer blamed higher procurement costs and promotional offers for the lagging performance.

Sales edged up to $5.1 billion from $4.96 billion in the prior year quarter, but gross margin shrank to 61.7% from a previous 65.9%.

Cincinnati -- In its fifth annual sustainability report, released Tuesday, The Kroger Co. said it continues to meet its benchmarks, including reducing in-store energy consumption by 30%.

"In 2010, Kroger stores saved enough energy to power the city of Fort Worth for a full year,” said Rodney McMullen, president and COO of Kroger. “We sent less waste to landfills, recycled more plastic, and provided our customers with five million more reusable bags.”

NEW YORK — Borders' closings, and subsequent clearance sales, took a toll on Barnes & Noble's fourth-quarter results. B&N said that its 2.9% drop in same-store sales for the quarter were temporarily negatively impacted by the liquidation of over 200 Borders bookstores during that time. 

The trouble didn't end there for Barnes & Noble, which reported a fourth-quarter consolidated net loss of $59 million, or $1.04 per share. The company's total store sales were $943 million.

New York City -- Barnes & Noble reported Tuesday that its loss for the quarter ended April 30 widened to $59.4 million, from a loss of $32 million in the year-ago period. The book seller said its results were hurt by liquidation sales by bankrupt Borders, as well as impacted by ongoing investment in the Nook.

Revenue rose 4% to $1.37 billion from $1.32 billion in the prior year, missing Wall Street’s estimate of $1.39 billion in revenue.

Same-store sales dropped 2.9%.

New York City -- Kmart stores is laying off 700 employees in its appliance departments.

The chain, a division of Sears Holdings Corp., is changing the way it sells appliances, allowing customers to check out appliances at any register rather than going to a dedicated register. Instead of having dedicated appliance-only associates, all Kmart staffers are being trained to answer questions about appliances.

There will also be a 1-800 number customers can call for help.