C-SUITE

FRAMINGHAM, Mass. — TJX Cos. reported that its fiscal second-quarter net income rose a better-than-expected 14%. The off-price retailer also increased its profit outlook for the year.

The company earned $479.6 million for the quarter, which ended on Aug. 3, up from $421.1 million in the same quarter last year.

ATLANTA — A rebound in seasonal categories helped The Home Depot post double-digit same-store sales in the second quarter as it exceeded its own expectations.

Net sales at the world's largest home improvement retailer increased 9.5% to $22.5 billion in the quarter ended Aug. 4, compared with $20.6 billion in the same quarter last year. Comp-store sales increased 10.7% across the company, and increased 11.4% among domestic stores.

Net earnings for the quarter were $1.80 billion, up 17.2% from $1.53 billion in last year's 14-week second quarter.

New York -- Saks Inc. on Monday reported a worse than expected second-quarter loss amid disappointing sales of shoes and handbags. 

Saks, which last month reached a deal to be acquired by Canada's Hudson's Bay Co., had a net loss of $19.6 million for the quarter ended Aug. 3, compared with a net loss of $12.3 million a year earlier.

Overall sales rose 0.5% to $707.8 million for the quarter. Same-store sales rose 1.5%, below the 4.5% increase analysts had expected.

NEW YORK — Canadian shoppers aren’t wowed by Target Corp., according to a customer-satisfaction rating survey by Forum Research. As reported in The Globe and Mail, the survey ranked Target at the bottom of a list of major retailers operating in Canada. (Satisfaction as measured by the survey relates to service, prices and/or merchandise offering.)

Over all, Target scored a mean 2.7 out of 4, compared with Costco’s 3.5, Wal-Mart’s 3.1 and a 3.2 average.

Armonk, N.Y. -- Online consumer spending rose a healthy 15% in the second quarter of this year compared to the second quarter of last year. The IBM Online Retail Sales Index shows that mobile sales reached 19.4% of total online sales, up 28% from last year. Online shopping growth substantially outpaced the 4.6% year-over-year increase of in-store sales during the second quarter.

BOCA RATON, Fla. — In a letter to shareholders, the board of directors of Office Depot Inc. said it has made significant progress toward a successful closing of the planned merger with OfficeMax by the end of this year. The letter also urges shareholders to support the board’s 10 nominees for the company’s board of directors.

PLEASANTON, Calif. — Safeway has appointed Barry Libenson as senior VP and CIO, effective July 1, 2013. Libenson replaces former Safeway CIO David Ching, who retired earlier this year. He will oversee IT business functions and report to executive VP Larree Renda.

Libenson previously served as senior VP and CIO at Land O’Lakes Inc. since 2010. Other positions he has held include VP of business at Ingersoll-Rand and executive VP at Surety.com.

WASHINGTON — U.S. consumer spending dropped 0.2% in April 2013, according to the Commerce Department.

It was the first monthly decline since May of last year and follows increases of 0.1% in March and 0.8% in February. Falling gas prices in April were part of the reason for the drop in spending, with purchases of gas, electricity and other energy goods and services down 4.4%.

In addition, increased Social Security deductions in consumer paychecks may have also contributed to the decline in spending.