News

PetSmart is exploring strategic alternatives to maximize shareholder value, including a possible sale of the company. The news comes on the heels of its second quarter results, and just a little less than two months after activist investor Jana Partners acquired a 9.9% stake in the company and began looking to make changes.

Staples chairman and CEO Ron Sargent said that the company has more work to do to stabilize its retail business, following a 20% decline in net income to $81.88 million for the second quarter, from $102.53 million in the prior year.

Sargent added that the company will continue taking steps toward improving customer traffic, reduce expenses and close underperforming stores.

Target’s U.S. sales held up reasonably well in the second quarter, but weak results in Canada and expense pressures prompted the company to reduce its full year profit expectations a week after Brian Cornell became chairman and CEO.

Mooresville, N.C. -- Lowe's second-quarter net income rose a better-than-expected 10%, helped by improving weather. But the chain lowered its full-year revenue outlook slightly, citing its year-to-date sales and prior assumptions for the second half.

For the three months ended Aug. 1, Lowe's Cos. earned $1.04 billion, up from $941 million in the prior year.

Revenue increased 6% to $16.6 billion, topping Wall Street's estimates.

Same-store sales were up 4.4%.

Dove, in partnership with E! Entertainment, will showcase the One Shower Challenge during the network's red carpet coverage of the Emmys on Aug. 25. The goal of the challenge is to highlight the results of Dove's new body washes.

Shopping site Shopsavvy announced an update to its mobile app this week that adds functionality for users who are looking for the right price on the product they want.  

The update increased the number of participating retail outlets from fewer than 40,000 to about 500,000. Additionally, products can be tracked by their barcodes using the app’s built-in scanner.

By Andrew Schneide, ZOG Digital

Better than expected second quarter sales and profits at TJX Companies prompted CEO Carol Meyrowitz to strike an optimistic tone about the discount retailer’s future prospects.