News

San Francisco -- Williams-Sonoma reported Thursday that net income for the quarter ended May 1 jumped 62% to $31.6 million, from $19.5 million a year earlier, topping company expectations.

Revenue rose 7.4% to $770.8 million, better than expected.

Same-store sales, which includes direct-to-consumer revenue, rose 9%. Same-store sales rose 3.1% at the namesake brand, 7.9% at Pottery Barn and a record 11% at Pottery Barn Kids.

SEATTLE — Amazon.com has launched an electronics trade-in service that allows customers to exchange their used electronics for Amazon.com gift cards. According to Amazon.com, customers can trade in multiple items, including video games, tablets and cell phones, at the same time by sending in one box. 

New Albany, Ohio -- Abercrombie & Fitch Co. said Wednesday that overseas strength pushed its net income to $25.1 million for the first quarter, compared with a loss of $11.8 million a year earlier.

As previously reported, revenue rose 22% to $837 million, helped by a 64% surge in international revenue.

Atlanta -- RedPrairie Corp., a global supply chain and retail technology provider, announced that Levin Furniture has gone live with RedPrairie’s fleet management solution for complete route and load planning across its home-delivery operations.

The system will run in tandem with RedPrairie’s warehouse management solution, which Levin implemented at its distribution center in Smithton, Pa.,over two years ago.

MINNEAPOLIS — First-quarter sales at Target increased 2.8% to $15.6 billion, and same-store sales increased 2% the company reported. The modest sales growth translated into earnings per share that advance 9.8% to 99 cents, four cent better than analysts’ consensus estimate of 95 cents, and net income that increased 2.7% to $689 million. Share repurchase activity contributed to the earnings per share growth as Target spent $819 million during the first quarter to buy back 15.4 million shares at an average price of $53.32.

FRAMINGHAM, Mass.  — Staples reported that total company sales for the first quarter of 2011 increased 2% to $6.2 billion compared with the first quarter of 2010.  Net income for the first quarter of 2011 increased 5% year-over-year to $198 million, and diluted earnings per share, on a GAAP basis, increased 8% to 28 cents from 26 cents in the first quarter of 2010.

Fort Myers, Fla. -- Chico's FAS said Wednesday that profit for the first quarter was $45.9 million, compared with $35.4 million in the year-ago period.

Net sales increased 11.5% to $537.2 million, from $481.6 million in last year's first quarter. Consolidated same-store sales rose 7.7%.

The operator of Chico’s, White House|Black Market and Soma Intimates said it anticipates opening 21 net new stores in the May-June 2011 time frame.

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