News

Walmart maintained an optimistic outlook for the holiday season despite 1.5% third quarter comp increase that reflected a modest deceleration in sales momentum seen earlier this year.

Bentonville, Ark. -- Wal-Mart Stores Inc. reported Thursday net income of $3.64 billion for the quarter ended Oct. 31, up from $3.34 billion in the year-ago period.

Sales rose 3.4% to $113.20 billion, as U.S. sales beat internal expectations but overall missed Wall Street’s expected $114.96 in revenue.

Wal-Mart U.S. saw same-store sales rise 1.5%, marking the fifth consecutive quarter of same-store sales growth after nine straight quarterly declines. At Sam’s Club, same-store sales rose 2.7%, excluding fuel.

Pleasanton, Calif. -- Ross Stores Inc. reported Thursday that net income rose 10.8% to $159.5 million in the third quarter, compared with $144 million a year earlier.

Revenue rose 10.6% to $2.26 billion, missing Wall Street’s expected $2.34 billion in revenue. Same-store sales climbed 5%.

The retailer has reaffirmed its guidance for the fourth quarter.

Phoenix -- Manthan Systems announced that Sprouts Farmers Markets has selected Manthan’s ARC platform for enterprise-wide reporting and analytics. Currently operating 148 retail stores across eight states, Sprouts Farmers Markets has become synonymous with fresh produce, great prices and old-fashioned customer service.

Chicago -- Retailers project a 3.1% increase in sales on Black Friday, according to a survey of top retail chief marketing officers by BDO USA, LLP. This optimism follows last year's modest projection of 1.6% growth, which preceded record sales over Thanksgiving weekend.

Walmart had as much to say about an ongoing and expanding investigation into alleged violations of the U.S. Foreign Corrupt Practices Act in its third quarter filing with the Securities and Exchange Commission as it did about its actual financial results.

York, Pa. -- Bon-Ton Stores narrowed its fiscal third-quarter loss narrowed partly on lower expenses.

For the period ended Oct. 27, Bon-Ton lost $10.1 million, compared with a loss of $22 million a year earlier.

Revenue rose 2% to $668.7 million from $656.1 million. Same-store sales rose 1.9%.

City of Industry, Calif. -- Hot Topic Inc. reported Wednesday that profit for the third quarter jumped 38% to $4.3 million, from $3.1 million in the year-ago quarter.

Revenue edged up 2% to $179.4 million from $175.8 million, missing Wall Street’s expected $182.9 million in revenue.

Same-store sales rose a slight 0.2%.