News

FORT WORTH, Texas  — Pier 1 Imports reported a 10.8% same-store sales increase for the second quarter ended Aug. 27, on top of an 11.2% comps increase for the same period last year, driven primarily by increases in traffic and average ticket. Total sales for the quarter improved to $340 million compared to $310 million in the year-ago quarter. 

Pier 1 said it expects earnings per share for the quarter to be 14 cents.

NEW YORK — Despite low consumer confidence, the volatile economy and a hurricane, many retailers reported better-than-expected sales in August. Hurricane Irene appeared to put a dent in the results of some retailers on the East Coast, but the storm did not appear to do as serious damage as some expected.

Total retail sales rose 4.4%, just missing the 4.6% rise that Wall Street analysts had expected, according to Thomson Reuters. Of the 19 out of the 25 retailers that Thomson Reuters tracks, 11 beat expectations.

NEW YORK — Macy’s reported that its same-store sales rose 5% in August, beating estimates. The retailer said sales would have been higher by 1.5% points without the impact of Hurricane Irene. Industry analysts had warned that the storm would impact department stores and specialty retailers the most as consumers focused on buying generators and other emergency and recovery items versus back-to-school and discretionary products.

CITY OF INDUSTRY, Calif. — Hot Topic has announced that two new executives have joined the company, Don Hendricks as CIO and Jeff Allison as SVP planning and allocation.

Hendricks will lead all information technology for Hot Topic Inc. Prior to joining Hot Topic, Hendricks was the CIO at Gymboree Corp. where he led many successful major systems implementations. In addition to his IT responsibilities, Hendricks was also responsible for distribution and logistics.

BOCA RATON, Fla. — Office Depot announced that it is now expanding its retail store presence in the Caribbean territory as part of its franchise agreement with Benmore International.

NEW YORK — Sears and Kmart stores announced that they are supporting emergency relief efforts in a dozen states to help residents recover from Hurricane Irene’s damaging winds and floodwaters.

Sears and Kmart stores will offer discounts on recovery items in stores throughout Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island and Vermont.

Key discounts include:

Kmart:

MINNEAPOLIS — Target has announced new beauty exclusives that are hitting shelves for fall 2011.

Hair accessories brand Goody is bringing exclusively to Target in October its fall Regency collection, which features 32 pieces, including headbands, hairpins, clips and elastics. Prices range from $2.19 to $8.99.

Highlights of new offerings include:

• Ruched Flower Salon Clips ($5.99)

• Infinity Beaded Head Wrap ($6.99)

• Metal Flower Salon Clip ($6.99)

BENTONVILLE, Ark. — Walmart U.S. President and CEO Bill Simon addressed attendees at the American Legion's 93rd National Convention on Wednesday, telling fellow Americans, veterans and Legionnaires that Walmart would create jobs in the U.S. by hiring more than 15,000 people to work in about 100 new and expanded Walmart stores by fiscal year's end.

MINNEAPOLIS — Target is ushering in fall with Sonia Kashuk’s latest collection at Target, including shades and makeup brushes in a chic new print.

The Sonia Kashuk 2011 fall collection includes:

• Brush Couture Five-Piece Brush Set ($14.99): The five-piece brush set comes in a chic black-and-white tribal print and includes a powder/blusher brush, crease brush, synthetic concealer/foundation brush, small eye shadow brush and smudge brush.

SHADE ADDITIONS

The increases in average transaction size and customer traffic that Target credited with driving its 4.1% same-store sales increase during August is unwelcome news for Walmart. This is especially true since the biggest gains continue to come in categories where Walmart is traditionally strongest and is intent on demonstrating price leadership.