News

New York -- Most apparel retailers topped Wall Street estimates in February, as rising temperatures boosted sales, while increased consumer confidence and Valentine’s Day also helped boost spending, according to the Thomson Reuters Same Store Sales Index.

Phoenix -- PetSmart Inc. reported Thursday that profit for the fourth quarter rose 13% to $102 million, compared with $90.3 million in the year-ago period.

Revenue during the quarter was $1.64 billion, up from $1.52 billion a year earlier and beating Wall Street’s expected $1.62 billion in revenue. Same-store sales rose 5.5%.

For the full year of 2011, the company reported net income of $290.2 million, up from $239.9 million in 2010. Revenue for the year was $6.11 billion, up from $5.69 billion the year before.

New York City -- A study released Thursday by WSL/Strategic Retail found that 52% of Americans are struggling to afford the necessities, and for many even that is a stretch.

The “How America Shops MegaTrends report, Moving On 2012,” revealed among its significant findings that the youth market, 18-34 year olds, has the highest percent of those who do not have enough money to cover their basic needs, with close to a quarter (24%) in financial turmoil.

Retailers across the board saw increased sales in February, thanks to unseasonably warm weather and increased consumer confidence that got shoppers out of their house and into the stores.

In a month that was solid overall, the discount sector showed its muscle, turning in a strong February same-store sales performance nearly across the board.

PHOENIX — When it comes to pets, no expense is too great, and many owners will even forgo spending on themselves in order to get the very best for their animals. Therefore, it is not surprising that such companies as PetSmart continue to perform well even in a down economy.

For its fourth quarter, PetSmart reported that earnings per share were up 18% to 91 cents. Comparable-store sales grew 5.5%, benefitting from comparable transactions growth of 2.9%. Total sales for the quarter were up 8% to $1.6 billion.

New York -- Results were mixed among the department store players in February, as Macy’s turned in a strong performance and Kohl’s missed expectations.

For the month, Macy’s reported a same-store sales gain of 4.6%, beating the 3.5% rise anticipated by Wall Street. Online sales for the operator of Bloomingdale’s and its namesake banner surged 31.3%, boosting the same-store sales percentage advance. Total revenue in February increased 5.5% to $1.86 billion.

NEW YORK -- Liz Claiborne Inc. swung to a fourth-quarter profit, buoyed by gains from sales of certain brands and trademarks, including the sale of its namesake brand to JCPenney. But the company's total revenue came in well below expectations, hurt by the faltering performance of its Juicy Couture division.

Liz Claiborne, which is being renamed Fifth & Pacific Cos. as it focuses on its Juicy Couture, Kate Spade and Lucky Brand brands, earned $229.2 million in the quarter ended Dec. 31, compared with a loss of $30.1 million in the same period last year.

Bentonville, Ark. -- Wal-Mart Stores Inc. said Thursday it is continuing its annual tradition of increasing shareholder payout by raising its dividend by 9%.

Wal-Mart will pay a quarterly dividend of 39.75 cents on April 4 to shareholders of record on March 12. That works out to $1.59 per share for the year. The company has increased its dividend every year since its first declared dividend in March 1974.

According to Wal-Mart president and CEO Mike Duke, the company's U.S. business is back on track, and international results remain strong.