Data & Analytics

Minneapolis -- Best Buy Co. reported Tuesday that net income for the first quarter fell 12% to $136 million, hurt by increased promotions and lower demand for such items as flat-panel televisions and digital cameras. But strong showings in China, mobile phone sales and online performance pushed helped to boost profit and revenue past analyst estimates.

Ankeny, Iowa -- C-store operator Casey's General Stores said Monday that profit for the quarter ended April 30 rose 4% to $22.8 million, compared with $21.9 million in the year-ago period.

Revenue surged 31% to $1.55 billion, surpassing Wall Street expectations of $1.57 billion in revenue. Same-store sales rose almost 5% on groceries and other merchandise and increased 12% on food and fountain drinks. Same-store gasoline sales fell 2% on rising prices.
 

New York City -- A report released Tuesday by Deloitte said that consumer spending continued its decline in May, weighed down by a sharp rise in unemployment claims.

The Deloitte Consumer Spending Index, which tracks consumer cash flow as an indicator of future consumer spending, fell to 2.66%, from a gain of 3.29% in April. The Index is comprised of tax burden, initial unemployment claims, real wages and real home prices.

WAYNE, N.J. — Toys“R”Us reported that domestic comparable-store sales were down 2.1% for its fiscal first quarter. Total sales were up 1.1% tp $2.6 billion. 

According to the company, sales were strongest in the learning and core toy categories, while the entertainment and seasonal categories struggled. 

All board members were re-elected by an overwhelmingly large margin, however some shareholders expressed a dislike for Anne Mulcahy as she drew the largest number of negative votes by a wide margin.

Mulcahy is probably best known as CEO of Xerox from 2001 to 2009, and she also served as chairman of the company’s board from 2002 to 2010. She currently chairs the board of trustees of the Save The Children Foundation and serves as a director of The Washington Post Company and Johnson & Johnson. She is a past director of Citigroup.

New York City -- China ranks as the most attractive emerging market for apparel retailers, according to global management consulting firm A.T. Kearney’s 2011 Global Retail Development Index for Apparel. The research analyzes retail markets worldwide, and ranks those countries that present the best opportunity for apparel retail expansion.

Cary, N.C. -- Convenience-store operator The Pantry is selling 114 locations located in nine states throughout the Southeast. The properties are a combination of owned and leased locations. All are operating convenience stores with gasoline, except for one standalone store.

NRC Realty Capital Advisors, Chicago, is assisting The Pantry in the sale. As of May 9, The Pantry operated 1,659 stores in 13 states under select banners, including Kangaroo Express, its primary operating banner.

By Paul Kinney, [email protected]

Common Area Maintenance (CAM) charges are a headache for commercial tenants of all sizes. Unfortunately, overcharges make the management of CAM expenses a major problem for retail tenants. Responding to the CAM overcharge hot button, the National Retail Tenants Association (NRTA) has once again made CAM management a key topic of its education curriculum of its annual conference planned for this September in Orlando.

With Father’s Day approaching, General Growth Properties has rolled out a mall promotion that invites shoppers to “check in” to their local GGP mall using Foursquare for a chance to win a trip to the 82nd MLB All-Star Game at Chase Field in Phoenix.

When shoppers “check-in” through Foursquare, they receive a link to enter the sweepstakes, which includes four tickets to the MLB All-Star Game on July 12, $1,000 in Shop Etc. Mall Gift Cards and a hotel stay and golf outing at the AAA Four-Diamond, all-suite Arizona Grand Resort.

New York City -- Amazon.com said Friday that it would drop its online affiliates in Arkansas in response to a new state law that would have required the online retailer to start charging sales tax, the Associated Press reported.

Lawmakers passed a bill earlier this year to require out-of-state online retailers such as Amazon to collect sales tax from customers if their annual sales in the state exceed $10,000.