News

Nashville, Tenn. -- Kirkland reported Friday a loss of $2 million in the second quarter, widened from a loss of $480,000 in the year-ago period. Revenue edged up 1% to $91 million, missing Wall Street’s expected $94.4 million in revenue.

Same-store sales declined 3.6%.

The retailer has cut its earnings and revenue outlooks for the year.

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.

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. 

MINNEAPOLIS — Wheaties is saluting two Olympic gold medalists by touting them on limited-edition boxes of the cereal.

The brand officially unveiled the boxes featuring swimmer Michael Phelps and professional beach volleyball player Misty May-Treanor.

"Michael Phelps and Misty May-Treanor have inspired others to get out and achieve their own personal best," said Jim Wilson, Wheaties marketing. "Wheaties is proud to honor them and to fuel athletes everywhere."
 

Walmart is among a group of pharmacy retailers working on an educational initiative with the U.S. department of Health and Human Services.

As part of a partnership with HHS, Walmart and Sam’s Club are providing information online to help educate Medicare recipients about the range of tax-payer funded “free” services available to them under the Affordable Care Act.

Chesapeake, Va. -- Dollar Tree Inc. reported Thursday that profit for the quarter ended July 28 soared 26% to $119.2 million, compared with $94.9 million in the year-ago period.

Sales rose 10.5% to $1.7 billion, just missing Wall Street’s expected $1.71 billion. Same-store sales grew 4.5%.

However, the company’s outlook fell short of Wall Street expectations, saying that it expects revenue between $1.71 billion and $1.75 billion in the third quarter while Wall Street expects $1.77 billion.
 

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

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.