News

Washington, D.C. -- According to the National Retail Federation and BIGinsight’s 2012 Back-to-School survey, families with school and college-aged students as of Aug. 7 say they have more than half of their shopping lists to complete.

The average person with children in grades K-12 has completed 40.1% of their shopping, while college shoppers and their families have completed slightly more at 45.3%.

Overall, school and college shoppers this year are expected to spend a total of $83.8 billion.

Secaucus, N.J. -- The Children's Place Retail Stores reported Thursday a loss of $15.1 million, widened from a loss of $9.8 million in the same quarter last year.

Second quarter net sales increased 5% to $360.8 million, compared with $343.5 million in second quarter 2011. Same-store sales grew 3.4%.
 

Jacksonville, Fla. -- Stein Mart reported Thursday that profit slipped to $730,000 from $1.3 million last year, but second-quarter results managed to meet Wall Street's view, as revenue climbed.
 
Sales for the period grew 2% to $276.4 million, beating the $275.9 million that analysts expected. Same-store sales rose 1.6%.

 

Kearney, Neb. -- The Buckle reported Thursday that net income for the period ended July 28 dipped 2% to $23.2 million, compared with $23.6 million in the year-ago period, but matching forecasts.
 
Net sales rose 2% to $215.5 million, just missing Wall Street’s expected $215.9 million in revenue. Same-store sales dipped 0.8%.

BENTONVILLE, Ark. — A fourth consecutive quarter of same-store sales growth at Walmart’s U.S. business helped the company achieve a slightly better than expected profit performance.

COLUMBUS, Ohio — Limited Brands reported that adjusted earnings per share for the second quarter were 50 cents compared with 48 cents for the same period last year. Adjusted net income was $147.2 million compared with $150.7 million last year. 

Comparable-store sales for the second quarter increased 8%, and net sales were $2.4 billion compared with $2.46 billion last year. 

Sales for the second quarter ended July 28 increased 10.5% to $1.7 billion thanks to a 4.5% increases in same store sales and the addition of 77 new Dollar Tree stores, the company announced Thursday. Net income increased 25.6% to $119.2 million and earnings per share increased 30.8% to 51 cents. The profit performance met analysts’ estimates, but guidance for the third quarter in the range of 47 cents to 51 cents was a penny less than the 52 cents Wall Street expected and shares of the company sold off sharply after the earnings report.

PLEASANTON, Calif. — A new era is beginning at Ross Stores, as the company set out plans to elect a new CEO in 2014. At the same time, the company continues to put its trust behind vice chairman and CEO Michael Balmuth, agreeing to extend Balmuth's employment agreement through May 2016.

Hoffman Estates, Ill.-based Sears Holdings reported a second-quarter net loss of $132 million, compared with a loss of $146 million in the year-ago period.

Revenues totaled $9.5 billion for the quarter ended July 28, down 6% from $10.1 million in the second quarter of 2011. The company cited lower domestic comparable-store sales for the quarter and the effect of having fewer Kmart and Sears Full-line stores in operation. Sears Canada's comparable-store sales also decreased and included a decline of $55 million due to changes in foreign currency exchange rates.

WAYNE, N.J. — Toys“R”U opened its first stores in Beijing this weekend, marking its continued expansion across China.