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  • Report: Consumer confidence declines to nine-month low

    Washington, D.C. -- A report released Thursday by Bloomberg said that consumer confidence fell last week to the lowest level in nine months as the cost of fuel pinched U.S. household budgets.

    The Bloomberg Consumer Comfort Index declined to minus 49.4 in the period to May 15, the worst reading since August, from the prior week’s minus 46.9. A gauge of personal finances plunged to the weakest level since October 2009, and a monthly measure of economic expectations held at a seven-month low.

  • Dollar Tree profit soars 59%, raises forecast

    Chesapeake, Va. -- Dollar Tree reported Thursday that net income for the quarter ended April 30 rose 59% to $101 million, compared with $63.6 million in the year-ago period. The 2010 figure included a charge of $26.3 million for a retail inventory accounting change.

    The retailer raised its sales and profit forecast for the rest of the year.

    Revenue increased more than 14% to $1.55 billion, beating Wall Street expectations. Same-store sales rose 7.1%.

  • Hot Topic loss widens in Q1

    City of Industry, Calif. -- Hot Topic reported Wednesday that its loss for the fiscal first quarter widened to $7.7 million, compared to a net loss of $1.8 million last year.

    The first quarter results include $12.4 million of expenses for the implementation of the previously announced charges for strategic business changes and cost reduction plan.

    Revenue dipped 0.8% to $161.3 million compared with $162.6 million for the first quarter last year. Same-store sales edged up 0.2%.

  • Williams-Sonoma's profit surges 62%

    San Francisco -- Williams-Sonoma reported Thursday that net income for the quarter ended May 1 jumped 62% to $31.6 million, from $19.5 million a year earlier, topping company expectations.

    Revenue rose 7.4% to $770.8 million, better than expected.

    Same-store sales, which includes direct-to-consumer revenue, rose 9%. Same-store sales rose 3.1% at the namesake brand, 7.9% at Pottery Barn and a record 11% at Pottery Barn Kids.

  • PetSmart records 28% profit gain in Q1, beats Street

    Phoenix -- PetSmart reported Wednesday that net income in the first quarter rose 28% to $70.9 million, compared with $55.6 million in the year-ago period. Results beat Wall Street expectations.

    Revenue increased almost 7% to $1.49 billion, from $1.40 billion in the previous year. Same-store sales rose by 5%.

  • Children's Place Q1 profit up 4%, forecasts miss Street

    Secaucus, N.J. -- The Children's Place Retail Stores reported Thursday that profit for the quarter ended April 30 rose 4% to $29.1 million, compared with $27.9 million a year earlier. The retailer cited better product assortment, strong online sales and inventory-control efforts for the improved performance.

    Children’s Place also increased the low end of its full-year earnings outlook range, but its 2011 and second-quarter forecasts missed Wall Street's expectations.

  • Ross Stores profit up 22% in Q1

    Pleasanton, Calif. -- Ross Stores said Thursday that profit for the quarter ended April 30 surged 22% to $173 million, compared with $142.3 million a year earlier.

    Sales increased 7% to $2.1 billion, and same-store sales rose 3% on top of a 10% gain in 2010.

  • Stein Mart profit edges up in Q1; plans increased POS spending

    Jacksonville, Fla. -- Stein Mart reported Thursday that net income for the first quarter rose to $15.9 million from $14.3 million in 2010.

    Sales edged up 0.8% to $303.5 million, and same-store sales increased 1.5%.

    The retailer said it is increasing its plan for capital expenditure in 2011 by $5 million to a range of $30 to $35 million. Stein Mart said the increased spending is for POS hardware in all stores toward increasing operational efficiency.

  • Sears posts $170 million loss on weak sales

    Hoffman Estates, Ill. -- Sears Holding Corp. reported Thursday that it recorded a bigger-than-expected loss in the first quarter as its shoppers cut back on spending. The chain said it lost $170 million, compared with net income of $16 million in the year-ago period.

    The retailer had cautioned earlier in May that it expected a first-quarter loss due mainly to a drop in appliance, clothing and consumer electronic sales.

  • Staples Q1 results weaker than expected

    FRAMINGHAM, Mass.  — Staples reported that total company sales for the first quarter of 2011 increased 2% to $6.2 billion compared with the first quarter of 2010.  Net income for the first quarter of 2011 increased 5% year-over-year to $198 million, and diluted earnings per share, on a GAAP basis, increased 8% to 28 cents from 26 cents in the first quarter of 2010.

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