News

Goodlettsville, Tenn. -- Dollar General reported Monday net income of $317 million for the quarter ended Feb. 1, compared with $293 million in the year-ago period, beating Wall Street expectations. The company also forecasted 2013 sales growth of 10%-12%, slightly below analysts’ views.

Revenue edged up 0.5% to $4.21 billion in the quarter, missing Wall Street’s expected $4.26 billion. Same-store sales rose 3%.

For the full year, profit grew to $953 million from $767 million, and revenue rose 8.2% to $16.02 billion.

By Jason Taylor, Ph.D., [email protected]

NEW YORK — Barnes & Noble is giving away a free Nook Simple Touch e-reader, which retails for $79, to any customer who buys its high-definition Nook HD+ tablet between March 24 and March 31.

The offer is available at all Barnes & Noble stores, Barnes & Noble College Bookstores and online. It also is being offered through other retailers that sell Nook products, including Walmart.com, Target and Best Buy.

MINNEAPOLIS — Target announced that it will sell off about $209.3 million worth of debt as the company moves to refinance $679 million worth of debt due between 2028 and 2031, the mass merchandise retailer said.

Target announced plans to purchase $170 million in 6.75% debentures due 2028, $154.9 million in 6.65% debentures due 2028 and $354 million in 7% debentures due 2031.

The company said the $209.3 million tendered so far represented 20.31%, 25.22% and 38.32% of the totals of the three respective security titles.

PURCHASE, N.Y. — Pepsi has unveiled a new single-serve bottle, marking its first design update since 1996.  The new bottle will be rolled out in markets nationwide starting in April in 16-ounce and 20-ounce packaging, with full conversion taking a few years. 

FOOTHILL RANCH, Calif. — The Wet Seal reported that net sales for the fourth quarter were $161.7 million compared with net sales of $163.2 million for the 13-week fourth quarter in fiscal 2011.

Consolidated comparable-store sales declined 8.3%, including a comparable-store sales decline of 9.1% at Wet Seal and 3.1% at Arden B. 

Net loss was $85.8 million, or 97 cents per diluted share, as compared with net income of $1.1 million, or 1 cent per diluted share, in the prior year quarter. 

NEW YORK — More than half of consumers believe that apps are not expensive, according to a new survey by consulting firm Simon-Kucher & Partners. 

“It takes a long time to upgrade free users to the paid product and app makers need to strike a better balance between free and paid offerings. It needs more time and management attention to get right.”

That old expression about everything being bigger in Texas was given more credence today with the grand opening of a 40,000-sq.-ft. Golfsmith superstore in Houston.

The store, one of 10 planned openings for 2013, is what the company calls its Xtreme format. The new location in the west Houston suburb of Katy gives the company five Houston locations, 13 stores throughout Texas and more than 150 locations nationwide.

CARLSBAD, Calif. — 2XU, a manufacturer of high performance athletic apparel, has named Kevin Roberts CEO of the company. 

"2XU represents the pursuit of an incredible global business opportunity," said Roberts. "I greatly value the entrepreneurial culture of the brand and will continue to foster it moving forward."

Sam’s Club this week opened a new 136,000-sq.-ft. club adjacent to a Walmart supercenter in La Marque, Texas.

The club, built in 1991, was relocated from neighboring Texas City. The communities are located along I-45 southeast of Houston en route to the coastal community of Galveston. The new club, Sam’s first of the year, is one of an expected 15 to 20 new units this year that mark Sam’s most aggressive expansion in roughly a decade. Sam’s ended last year with 620 clubs and sales of $56.4 billion.