News

Birmingham, Ala. — Books-A-Million Inc. on Tuesday reported a first-quarter loss as revenue fell 11.1% in the face of growing competition from digital books. The chain posted a first-quarter loss of $3.5 million, compared with net income of $2 million.

Quarterly revenue dropped to $104 million from $117 million, a year earlier. Same-store sales fell 13.2%.

ISSAQUAH, Wash. — A larger-than-expected inventory charge may have dinged Costco’s third quarter earnings per share, but strong membership upgrade numbers and a dozen fourth quarter openings bode well for the company’s future performance.

Dallas — Zale Corp. said its net loss shrank in its most recent quarter and posted a double-digit revenue gain despite increasing costs for gold, silver and diamonds. The company posted a net loss for the three months that ended on April 30 of $9 million, compared to $12.1 million in its fiscal third quarter last year. Analysts had expected a far deeper loss.

Overall revenue rose 14.5% in the three months that ended on April 30 to $411.8 million, from $359.8 million last year. Analysts had expected $392 million. Same-store sales in the quarter were up 15.2%.

Minneapolis — Target announced its donation of funds and product to support tornado relief efforts in Minnesota.

The funds, which totaled $50,000, will help the efforts of the American Red Cross and Salvation Army.

“We take seriously our responsibility as a retailer, employer and community member to aid in times of need,” Target chairman, president and CEO Gregg Steinhafel said. “Before and after a crisis, communities can count on Target.”

Jerry Inman has joined 7thOnline to help the provider of retail merchandise assortment planning, forecasting and optimization solutions grow its visibility within the retailer and supplier communities.

Shenzhen, China — Walmart will be looking to capitalize on compelling growth prospects in China under the leadership of new senior executives following the simultaneous departure of CFO Roland Lawrence and COO Rob Cissell.

Both men left the company to pursue other development opportunities, according to Walmart, leaving leadership of Chinese business in the hands of Walmart China president and CEO Ed Chan and Wal-Mart Stores Asia president and CEO Scott Price.

NEW YORK — Creative agency Kaplan Thaler Group has been tapped to run Supervalu’s latest ad campaign, according to a blog posted on the Kaplan Thaler Group site Monday.

As lead creative agency, the Kaplan Thaler Group’s responsibilities will encompass advertising, digital and direct marketing across all Supervalu banners — including Acme, Albertsons, Cub Foods, Farm Fresh, Jewel-Osco, Shaw’s/Star Market, Shop ‘n Save, Shoppers Food & Pharmacy, Hornbacher’s and Save-A-Lot.

Memphis, Tenn. — Strong third quarter results at AutoZone caused shares to surge on Tuesday and pushed the company’s stock toward the $300 mark.