News

Lowe’s Q1 profit, sales up but miss Street
Mooresville, N.C. -- Lowe's Companies reported an increase in profit and sales in the first quarter but its performance in both metrics fell short of Wall Street estimates. The home furnishings retailer reported its results a day after rival Home Depot reported earnings and revenue that topped estimates.

Lowe’s net income increased 7.8% to $673 million in the quarter ended May 1, from $624 million a year earlier.

Net sales rose 5.4% to $14.13 billion. Total same-store sales were up 5.2%.
Rue 21 selects Epicor to support enterprise-wide reporting, analytics
Nashville, Tenn. -- Epicor Software Corporation announced that teen apparel retailer Rue 21 has selected the Epicor QuantiSense Retail Business Intelligence suite to support enterprise-wide reporting and analytics across merchandising, store operations and digital retail.

rue21 has relied on the Epicor Retail technology suite for years, most recently to help support the company’s extensive growth into new markets and merchandise categories, including a junior plus size division, rue+, launched in 2014.

Smart & Final launches new branding campaign

Commerce, Calif. -- Smart & Final launched a new branding campaign, which will place the ampersand ("&") -- already in the 144-year old company's name -- front and center to showcase the company's relationship with both its customers and the communities it serves.
Target Q1 profit surges 52% as turnaround efforts take hold

MINNEAPOLIS —Target Corp. on Wednesday reported a larger-than-expected increase in first-quarter profit amid signs that its efforts to refocus and revamp its product lineup are taking hold. Target executives said they are “pleased” with its first quarter, particularly the performance of its signature categories, as the retailer also posted a lift in sales and double-digit gains in its digital channel.
Target hits the bulleye in first quarter

Target’s efforts to revamp its product assortment are apparently paying off for the company, which reported a nearly 52% surge in first quarter profit on strong sales of fashion, home and beauty products.

The company posted a profit of $635 million for the three months that ended May 2. Same store sales rose 2.3%, beating forecasts. Revenue rose 2.8% to $17 billion. Online sales rose nearly 38%.
A&F exec named Big Lots general counsel

A legal veteran of Abercrombie & Fitch and Harvard Law grad has been named general counsel for Big Lots.

Ronald "Rocky" Robins Jr. becomes SVP general counsel and corporate secretary at Big Lots. Robins will be a member of the executive leadership team of the company and report directly to David Campisi, CEO and president.
Etsy blames Q1 loss on restructuring

Expenses related to a corporate restructuring led Etsy Inc. to report a huge loss in the first quarter.
Housing recovery lifts sales at Lowe's

The rebounding housing market lifted Lowe's financial results in the first quarter, although not as much as Wall Street expected.
Staples first quarter profit drops 39%

Traffic problems continued to hinder Staples in the first quarter even as the company awaits regulatory approval of its merger with Office Depot.
Ace Hardware is still surging

A month after being named America's favorite home improvement store, Ace Hardware reported record profit in the first quarter of 2015.
Kohl's confirms off-price store in New Jersey

Kohl’s is testing the off-price waters by opening a discount store in Cherry Hill, N.J., this summer called "Off Aisle by Kohl's," the company has confirmed.
American Eagle soars past expectations

Improved, "costumer-focused" merchandising helped American Eagle Outfitters post record net income in the first quarter.