News

Hoffman Estates, Ill. -- Sears Holdings Corp. reported Thursday that its losses for the second quarter widened more than expected to $146 million, compared with a loss of $39 million in the year-ago period.

The operator of Sears and Kmart stores cited aggressive merchandise markdowns as one reason for the poor performance. This is the second consecutive quarterly loss of the company, and its fourth in the last five quarters.

Sam’s Club run of six consecutive quarters of accelerating same-store sales growth will come to an end in the third quarter unless the warehouse club operator exceeds guidance provided earlier this week after reporting a 5% second-quarter comp increase.

Even though Sam’s president and CEO Brian Cornell noted that momentum remains strong, he added that “it’s important to remember that it was in the third quarter last year that our comp performance began to accelerate, so our comparisons for the back half will be more challenging.”

Pleasanton, Calif. -- Ross Stores reported Thursday that profit for the quarter ended July 31 rose 15% to $148.3 million, compared with $129.3 million a year earlier.

Sales for the quarter increased 9% to $2.1 billion, and same-store sales rose 5%.

“Our ability to increase the percentage of fresh name brand bargains our customers see, while also strictly controlling inventories and expenses, has enabled us to capitalize on our favorable position as a value retailer," said Michael Balmuth, vice chairman and CEO.
 

NEW YORK — Macy’s announced Giambattista Valli as the fourth designer in its collaboration series to create a capsule collection for the retailer’s fashion “Impulse” department later this fall. Known for extravagant designs and great party dresses, the collection will be Valli’s first foray into affordable fashion, the company reported.

Columbus, Ohio -- Limited Brands reported Wednesday that net income for the second quarter rose a better-than-expected 29% to $231.2 million, compared with $178.7 million in the year-ago period. 

It cited strong full-price sales at Victoria’s Secret and Bath and Body Works for the strong showing.

Revenue rose 10% to $2.46 billion, matching Wall Street expectations. Same-store sales rose 9%.

CHESAPEAKE, Va. — The discount store channel continues to thrive, as evidenced by Dollar Tree's strong second-quarter performance.

The company reported that sales for its second quarter ended July 30 increased 11.9% to $1.54 billion from $1.38 billion for the same period last year.  Comparable-store sales increased 4.7%, on top of a 6.7% increase for the second quarter 2010.

Dollar Tree's earnings rose an impressive 26.2% to 77 cents per diluted share from 61 cents per diluted share for the prior-year quarter. 

York, Pa. -- The Bon-Ton Stores reported Thursday that it narrowed its loss in the second quarter to $32.3 million from $33.7 million a year earlier.

Sales declined 2.2% to $595.5 million, but aggressive cost-cutting prompted the improved profit performance. Results, however, missed Wall Street expectations.

Same-store sales fell 1.5% for the quarter.
 

WASHINGTON — A survey released Thursday by the National Retail Federation found that nearly one third of tablet owners will use the device to purchase back-to-school items.

According to NRF’s 2011 Back-to-School and College surveys conducted by BIGresearch, consumers with smartphones and tablets will use their devices to research products, redeem coupons, look up store information, and even make purchases.