News

PITTSBURGH — Dick’s Sporting goods gave its shareholders a holiday surprise Tuesday morning when the company reported better-than-expected third-quarter results, increased its full-year guidance and declared its first ever dividend.

NEW YORK — Macy's announced that it will debut Ideology, a new brand of activewear, this spring. Cheryl Burke, renowned professional dancer and two-time winner of Dancing with the Stars, will serve as the face of the new brand.

Framingham, Mass. -- Staples Inc. reported Tuesday that profit for the third quarter climbed 13% to $326.4 million, from $288.7 million a year earlier. Earnings met Wall Street expectations.

Revenue rose 1% to $6.57 billion from $6.54 billion, missing analysts’ expected $6.71 billion. North American retail unit revenue was flat at $2.7 billion, with same-store sales down 1%. International revenue slid 7% on a local currency basis to $1.3 billion, leading the retailer to adjust its full-year forecast downward.

Bentonville, Ark. -- Wal-Mart Stores Inc. on Tuesday posted the first quarterly revenue gain in its U.S. namesake business in more than two years, but the discounter's profit was down 2.9%. Profit for the quarter ended Oct. 31 was $3.33 billion, missing Wall Street expectations.

Los Angeles -- A report released Tuesday by CBRE Group said that New York City remains the world’s most expensive shopping destination as retailers focus on the major fashion capitals.

“Retailers continued to expand their store networks to gain market share during the third quarter despite concerns regarding consumer confidence,” said Anthony Buono, CBRE executive managing director of retail services.

NEW YORK — Despite a significant decrease in net income, Saks delivered sales growth as it continues to improve its operating performance. Saks Inc. reported net income for the third quarter of $17.8 million, or 11 cents per diluted share, compared with net income of $36.3 million, or 20 cents per diluted share. 

BENTONVILLE, Ark. — Walmart delivered a long awaited same-store sales increase of 1.3% at its U.S. stores division in the third quarter and pointed to ongoing momentum for the holidays with comps guidance in the range of flat to up 2%.

Atlanta -- Home Depot Inc. reported Tuesday that net income in the third quarter rose 12% to $934 million, compared with $834 million in the year-ago period. Storm-related repairs and spending on home projects gave the home-improvement retailer a third-quarter boost.

Revenue rose 4% to $17.33 billion from $16.6 billion last year, beating Wall Street’s expected $17.11 billion in revenue.

Same-store sales rose 4.2% globally and 3.8% in the United States.