News

ALBANY, N.Y. — Trans World Entertainment reported a 78% improvement in net loss to $2.5 million, or 8 cents per share, for the first quarter as compared with a net loss of $11.4 million or 36 cents per share for the same period last year.    

For the first quarter, total sales decreased 16% to $131.5 million compared with $156.5 million in 2010.  Comparable-store sales for the quarter decreased 2%.   During the quarter, the company operated an average of 451 stores compared with 548 stores last year, a 17.7% decline.  

New York City -- New York & Co. reported Thursday a loss of $3.7 million in the first quarter, compared with a loss of $4.9 million a year ago.

Sales rose to $239.4 million from $237 million. Same-store sales increased 2.5%.

The company said it expects to close eight stores and remodel six existing locations, ending the second quarter of fiscal year 2011 with 545 stores, including 24 outlet stores.

HOFFMAN ESTATES, Ill. — Sears Holdings reported a first-quarter net loss of $170 million, or $1.58 per diluted share, in line with the company's expectations for a net loss in the range of $145 million and $195 million, or between $1.35 and $1.81 per diluted share. The company reported net income of $16 million, or 14 cents per diluted share, in 2010.

New York City -- Target Corp. plans to spend more than it had forecast this year on its entry into the Canadian market as it nails down more of the best retail locations sooner than expected.

The retailer said it will be able to “clarify” within weeks the number and locations of the first 100 to 150 stores it will open in Canada.

“We expect to close on higher value lease transactions sooner than expected,” Target CFO Doug Scovanner told analysts on a conference call Wednesday.

Pleasanton, Calif. -- Ross Stores said Thursday that profit for the quarter ended April 30 surged 22% to $173 million, compared with $142.3 million a year earlier.

Sales increased 7% to $2.1 billion, and same-store sales rose 3% on top of a 10% gain in 2010.

ROANOKE, Va. — Advance Auto Parts reported that first quarter earnings per diluted share were $1.35 , which was a 13.4% increase over the first quarter last year. Net income for the quarter was $109.6 million compared with $109.4 million for the same period last year.

Phoenix -- PetSmart reported Wednesday that net income in the first quarter rose 28% to $70.9 million, compared with $55.6 million in the year-ago period. Results beat Wall Street expectations.

Revenue increased almost 7% to $1.49 billion, from $1.40 billion in the previous year. Same-store sales rose by 5%.

It’s true. Sam’s Club smoked its first quarter same-store sales guidance that called for a 1% to 3% increase by hanging a 4.2% increase on the board and managed to grow operating profits by 7% to $459 million, easily outpacing the performance of Walmart’s U.S. stores and international division.