News

Columbus, Ohio -- DSW said Tuesday that its second-quarter profit soared, boosted by a hefty one-time gain related to its acquisition of Retail Ventures.

The results beat Wall Street expectations and the company boosted its full-year outlook.

For the quarter ended July DSW posted net income of $139.9 million, compared with $26.9 million for the same quarter last year.

Goodlettsville, Tenn. -- Dollar General Corp. reported Tuesday that its second-quarter net income rose 3.5% to $146 million from $141.2 million in the year-ago period. Sales increased 11% to $3.58 billion; same-store sales rose 5.9%. Its results beat expectations. 

The company also raised its full-year outlook.

NEW YORK — Japanese fast-fashion giant Uniqlo is set to open its largest global flagship to date, an 89,000-sq.-ft. store on Fifth Avenue in Manhattan. The store, which will also be the larger single retailer on Fifth Avenue, will open on Oct. 14.

One week later, Uniqlo will debut a second flagship in Manhattan, a 64,000-sq.-ft. store 34th St. It will be the chain’s second largest global flagship

COLUMBUS, Ohio — DSW's model of bringing designer goods to a budget-conscious consumer continues to pay off, as the company posted sales and earnings growth for its second quarter. DSW Inc. reported that net sales for the second quarter increased 4.7% to $476.3 million from $415.1 million in the second quarter of 2010. Comparable sales for the second quarter increased 12.3%. 

Reported net income was $139.9 million, or $3.96 per diluted share. This compares with reported net income of $26.9 million, or $1.00 per diluted share.

Lowe’s second-quarter financial report was a disappointment to the company’s executives, who made no excuses for the retailer’s poor showing. Earnings were down slightly, revenues grew by only 1.3%, and comp-store sales were essentially flat. “Even after taking into account the challenges of the macro-environment, we are still not pleased with our performance this year,” said chairman and CEO Robert Niblock, speaking at an analysts’ conference call on Aug. 15.

New York City -- Barnes & Noble said Tuesday it narrowed its net loss in its fiscal first quarter as sales of its Nook e-book reader and e-books helped offset lower physical book sales. The chain, which recently received a $204 million investment from former suitor Liberty Media, said sales of Nooks, e-books and magazines and other digital content and accessories, rose 140% to $227 million during the quarter.

NEW YORK — Payless announced that it has expanded its partnership with designer Christian Siriano. His expanded collection will arrive Sept. 7 in 2,400 Payless stores across the United States, Canada and Puerto Rico and Payless.com.

This seasonal collection features a range of modern looks for everyday styling with an assortment of shoes and handbags offered at more moderate, accessible prices starting at $23 an item. 

It’s been one extreme or another the past few weeks in the retail world. First, luxury retailers Tiffany and Saks reported strong sales and profits and then on Tuesday Dollar General results showed the low-end consumers have some spending power and a taste for its brand of discount retail.