News

PITTSBURGH — Dick's Sporting Goods reported consolidated net income for the first quarter ended April 30 of $37.5 million, or 30 cents per diluted share, exceeding the company's earnings expectations provided on March 8 of 26 cents to 28 cents per diluted share.  For the first quarter ended May 1, 2010, the company reported consolidated net income of $26.2 million, or 22 cents per diluted share.

Atlanta-based Home Depot reported first quarter earnings of $812 million, up 12% from earnings of $725 million in the first quarter last year.

Sales declined 0.2% to $16.8 billion, while comparable store sales were negative 0.6%. Comp-store sales for stores in the United States were negative 0.7%.

Pittsburgh -- Dick's Sporting Goods reported Tuesday that net income for the first quarter rose to $37.5 million, compared with $26.2 million a year earlier.

Net sales increased 6.3% to $1.1 billion. Same-store sales rose 2.1%.

The retailer will open 34 new Dick's Sporting Goods stores in 2011, as well as remodel 14 existing locations. It also plans to open approximately three Golf Galaxy stores and relocate one Golf Galaxy store this year.

Atlanta -- Home Depot reported Tuesday that profit rose 12% in the first quarter, beating Wall Street estimates and causing the retailer to boost its outlook for the full year.

Home Depot earned $812 million in the quarter ended May 1, compared with $725 million in the year-ago period.

Revenue, however, slipped 0.2% to $16.82 billion on a weaker spring selling season, missing analysts’ expectations of $17.06 billion.

Same-store sales dipped 0.6%, with U.S. stores down 0.7%.

CHICAGO — True Value has announced that a new chief information officer has joined the company. Rosaelee Hermens will serve as True Value’s new CIO, in addition to being an officer of the company, effective last Monday, May 9.

Framingham, Mass. -- TJX Cos. reported Tuesday that net income for the first quarter plummeted 20% on the closing of its A.J. Wright stores, but strong sales buoyed the retailer’s full-year forecasts.

TJX earned $266 million in the quarter ended April 30, compared with $331.4 million in the year-ago period. Revenue increased 4% to $5.22 billion, surpassing Wall Street's estimate of $5.14 billion.

Same-store sales increased 2%.

TJX raised the low end of forecast for full-year adjusted earnings.
 

COLUMBUS, Ohio — DSW has named Todd Cordell as SVP human resources.  Cordell will be responsible for all human resources activities in support of DSW Stores, DSW.com, and the DSW leased business division.  

"Todd brings a wealth of experience and expertise in all areas of the Human Resources function, most particularly Organizational Development," said Michael MacDonald, CEO of DSW Inc.  "I am confident Todd will help DSW attract, develop and retain top talent in support of our key strategic growth initiatives."

Jacksonville, Fla. -- Winn-Dixie Stores said Monday that profit for the quarter ended April 6 rose to $23.5 million, compared with $20.9 million in the year-ago period.

Revenue declined to $1.62 billion, and same-store sales slipped a half-percent.