News

Columbus, Ohio -- Big Lots Inc. posted a lower-than-expected adjusted profit for the first quarter and cuts its full-year earnings outlook.

Big Lots' first-quarter earnings fell 22% to $40.7 million, from $52.5 million a year ago. Sales increased 5.4% to $1.29 billion. Same-store sales edged down 0.8%.

Net profit margin declined to 3.1% from 4.3% a year ago.
 

MINNEAPOLIS — Target has joined the Shopkick program, making it the largest retailer to reward its guests for using the app via their smart phones. Target guests nationwide can earn points for shopping at Target that can be redeemed for a variety of rewards.
 

New York -- American Eagle Outfitters earned a better-than-expected $39.7 million for the quarter ended April 28, compared with $28.3 million in the same period last year.

The company had said earlier first-quarter sales rose 18% to $719 million. Same-store sales were up 17%.

Target may be investing in expanding its offering of fresh food under its PFresh remodeling initiative, but it has a long way to go before it is considered a top grocery destination, at least according to a survey from Market Force Information.

Dallas -- Family Express has improved its inventory management operations significantly by deploying Retalix Ltd.’s demand-driven replenishment solution across its convenience stores in Northwestern Indiana, Retalix said.

MINNEAPOLIS — Best Buy reported GAAP net earnings from continuing operations of $161 million, or 47 cents per diluted share, for the first quarter ended May 5, compared with net earnings from continuing operations of $255 million, or 64 cents per diluted share for the prior-year period.

Washington, D.C. — Sam's Club has pledged more than $2 million in donations to nonprofits supporting small business growth. The announcement was made by Sam's Club president and CEO Rosalind Brewer.

"At Sam’s Club our small business owners are our partners, and we want to put our money where our mission is — which is to be agents for and support our members and the small business community," said Brewer, addressing guests at the Dream Big Small Business of the Year awards luncheon at the Shoreham Hotel.

BOISE, Idaho — Albertson’s LLC has implemented an in-store program that will allow customers to scan a QR code using their smartphones to access recipes with tips for grilling Steakhouse Choice cuts of meat.