News

New York City -- The nation’s specialty apparel retailers reported mixed results in July. as Hot Topic and Limited Brands turned in strong performances, while Gap and Aeropostale stumbled.

Hot Topic said its same-store sales rose 7.3% in July. far exceeding the 0.5% rise in analysts’ forecast. Hot Topic said the measure rose 6.2% at its namesake stores and rose 11.8% at its plus-sized Torrid division. The teen retailer also raised its second-quarter outlook.

July same-store sales at Fred’s declined 0.5% and that’s not a particularly good sign for Walmart, as the company prepares to release its quarterly results on Aug. 16. Fred’s appeals to lower income shoppers at its 672 stores in the Southeastern U.S. where the company has considerable overlap with Walmart.

New York City -- Sally Beauty Holdings on Thursday said that its fiscal third-quarter profit increased 68% as sales rose while it held its expenses in line.

The beauty retailer posted net income of $69.1 million for the three months ended June 30, compared with $41.1 million a year earlier. Revenue rose 13% to $837 million.

Sales at Sally Beauty Supply stores rose 11% to $517.2 million. Same-store sales gained 6.1%. The division had 3,123 stores at the end of the quarter.

LOS ANGELES, Calif. — Costco announced that it is bringing its Kirstie Kelly wedding gowns to the South during limited-time trunk shows at select locations. 

WOONSOCKET, R.I. — CVS Caremark posted second-quarter results that were at the high end of its guidance and narrowed its 2011 outlook on continued confidence. But it was the PBM business — and the potential merger of PBM rivals Express Scripts and Medco Health Solutions — that was top of mind for many industry observers, and was a topic that CVS Caremark president and CEO Larry Merlo hit head on at the start of Thursday morning’s conference call.

MINNEAPOLIS — July same-store sales at Target increase 4.1% on top of a prior year gain of 2%, with increase transaction size the primary driver of an increase toward the upward end of the company’s guidance.

Costco and BJ’s Wholesale Club continue to produce solid sales growth aided by high gas prices, shoppers desire to save money and their ability to pass through food price inflations.