News

For the second month in a row Target’s same-store sales were nearly double the expected amount and the company increased its first quarter guidance as a result.

Same-store sales increased 7.3%, with half of the increase driven by growth in average transaction size combined with an increase in comparable-store transactions. Overall comparable-store sales in March 2011 decreased 5.5%.

UNION, N.J. — Bed Bath & Beyond continues to dominate the home and housewares space and reported another quarter of impressive sales and earnings growth.

PITTSBURGH — Dick's Sporting Goods is looking into opportunities beyond the United States and has agreed to make a 20 million pounds Sterling strategic investment in JJB Sports plc, a leading U.K. sports retailer.

FORT WORTH, Texas — Bed Bath and Beyond may dominate the housewares retail space, but that isn't stopping companies like Pier 1 Imports from trying to take a bigger share.  In that vein, Pier 1 announced a new three-year growth plan commencing in fiscal 2013, as well as updated financial goals. According to the company, the new board-approved plan is designed to drive profitable top and bottom-line growth, expand market share and increase shareholder value as the company evolves into a multi-channel retailer.

BENTONVILLE, Ark. — As a large, profitable retailer, Walmart is expected to give back. While many could argue it could do more, the company gave away $958.9 million in cash and in-kind contributions around the globe during the fiscal year ending Jan. 31. The company's U.S. giving grew nearly 20%, largely due to increased donations of produce, meats, poultry and other nutritious food to local food banks from Walmart stores, Sam's Club locations and distribution centers.

NEW YORK — Target Corp., The TJX Cos., and Ross Stores reported stronger-than-expected March sales as warm weather put consumers in a spending mood. Both retailers also revised their first-quarter outlooks upward on the results.

Target said its same-stores sales rose 7.3% in March, helped by warm weather. Analysts had predicted a 5.4% increase.

With more than 500 pharmacies, hundreds of optical and hearing centers and a three-tiered strategy built on awareness, prevention and solutions, Sam's Club is positioned to win in health and wellness. Drug Store news provides an exclusive look inside the company's healthcare offerings. Click here for more.

March was a good month for retailers overall, as an early spring brought out shoppers looking for seasonal merchandise earlier than they typically would. Last month was the warmest March in North America in more than 50 years, according to weather data provider Planalytics. 

Target, TJX and Ross Stores all reported stronger-than-expected March sales.

For the second month in a row Target’s same-store sales were nearly double the expected amount and the company increased its first quarter guidance as a result.

Same-store sales increased 7.3%, with half of the increase driven by growth in average transaction size combined with an increase in comparable-store transactions. Overall comparable-store sales in March 2011 decreased 5.5%.

NEW YORK — Avon Products announced that its board of directors elected Douglas Conant to the board, effective immediately.