News

NEW YORK — Further proof that the sluggish economy is affecting higher-income households much less than lower-income households can be found in the quarterly profits of Dillard's and Nordstrom's, which both reported earnings this week.

Dillard’s Inc. reported Friday that profit for the quarter ended Oct. 29 soared a record 85% to $26.6 million, compared with $14.4 million in the year-ago period. Strong comps and contained expenses propelled the strong performance.

BENTONVILLE, Ark. — Sam's Club has revealed 60 featured deals for its annual, members-only Day After Thanksgiving Event (D.A.T.E.). The event will take place at all Sam's Club locations nationwide at 5 a.m. on Friday, Nov. 25.

Members who participate in the event will be able to enjoy complimentary breakfast from 5 a.m. to 8 a.m. In addition, shoppers who join Sam's Club or upgrade to Plus Membership while in-club through the weekend will receive a $20 gift card.

Menomonee Falls, Wis. -- A Friday report in Advertising Age said that Kohl’s Corp. has added $30 million to its fourth quarter marketing spend in order to pad its efforts to garner holiday shopping dollars.

In 2010, the retailer spent $113 million on measured media in the fourth quarter, according to the report, and will spend about $143 million this year. Annually, Kohl’s spends $340 million.

Little Rock, Ark. -- Dillard’s Inc. reported Friday that profit for the quarter ended Oct. 29 soared a record 85% to $26.6 million, compared with $14.4 million in the year-ago period. Strong comps and contained expenses propelled the strong performance.

Revenue rose to $1.38 billion, from $1.34 billion, beating Wall Street’s expected $1.36 billion in sales. Same-store sales increased 5%.

Jacksonville, Fla. -- Body Central Corp., which operates under the Body Central and Body Shop banners, reported Friday that net income for the third quarter more than doubled to $2.8 million, from $1.3 million a year earlier.

Total revenue rose 18% to $67.1 million, compared with $56.9 million a year ago. Results were boosted by a 21.2% increase in store sales. Same-store sales rose 8.2%.

The company opened five new stores during the third quarter and is on track to open 33 new stores in 2011.
 

CITY OF COMMERCE, Calif. — A strong earnings and sales performance during its fiscal second quarter gave 99 Cents Only Stores the confidence to raise its full year guidance and become more aggressive with store growth. The company reported that total retail sales increased 9% to $352.2 million and same-store sales increased 6.7% for the second quarter. Consolidated net income increased by $2.2 million to $15.1 million or 21 cents per diluted share, versus $12.9 million in the prior year, or 18 cents per diluted share

ROANOKE, Va. — Advance Auto Parts is raising its full year EPS outlook following an impressive 37% increase in third quarter earnings. According to Mike Norona, EVP and CFO, the company now expects its annual 2011 EPS outlook to be $4.90 to $4.95. For the third quarter, the cmpany reported that earnings per diluted share were $1.41 compared with $1.03 for the same period last year.

BENTONVILLE, Ark. — Walmart announced that it is starting its Black Friday promotions at 10 p.m. on Thanksgiving Day (Nov. 24), raising the question: "Should we just call it Black Thursday already?"

For the first time, Walmart will open its stores at 10 p.m. to offer customers special savings on top toys, home and apparel. Deals include Barbie dolls for $5 each, a $20 inflatable snowman, a 20-piece Paula Deen cookware set for $86.44 and kids character sleepwear sets for $4.47. 

MENOMONEE FALLS, Wis. — Jennifer Lopez' and Marc Anthony's split had little impact on sales of their respective brands at Kohl's, which reported its third-quarter results Thursday. According to Kevin Mansell, Kohl’s chairman, president and CEO, "the launch of [the] Jennifer Lopez and Mark Anthony brands during the quarter met [the company's] aggressive sales plans."

MINNEAPOLIS — Target, along with The Heart of America Foundation, The Mission Continues and hundreds of volunteers,  announced that it will celebrate the unveiling of newly renovated libraries at Jack Kimbrough Elementary in San Diego on Nov. 10, and Camp Allen Elementary in Norfolk, Va. on Nov. 11. The unveiling events will honor Veterans Day and mark the conclusion of the 2011 Target School Library Makeover program, which included the transformation of 42 elementary school libraries.