Retail

Weather Knocks Walmart Q1

Walmart

BENTONVILLE, Ark.-The severe winter weather of early this year proved to be a major factor in the 5 percent drop in Walmart’s net income for the first-quarter ending April 30, which totaled $3.6 billion. In a conference call from Walmart’s management discussing the results this morning, Doug McMillon, Walmart’s president and CEO, said the “disruptive”More »

Kohl’s Q1 Net Falls 15 Percent; Sets “Greatness Agenda”

Kohl’s

MENOMONEE FALLS, Wis.-In a quarter in which the company failed to achieve its sales goals, Kohl’s posted first-quarter net income of $125 million, down 15 percent from a year ago. Net sales fell 3.1 percent to $4.1 billion, including a decrease in same-store sales of 3.4 percent in the quarter, which ended on May 3.More »

Hayneedle Home Catalog Now on Zillow

Hayneedle

OMAHA, Neb.-Hayneedle.com is now offering its complete line of home furnishings on Zillow, the real-estate information website. The two sites have reached a marketing agreement which will give Zillow site visitors the ability to browse Hayneedle’s entire home furnishings line “alongside utility estimates and other home expenses,” according to a Hayneedle statement. The home siteMore »

Fab Opens First Solo Pop-Up Showroom

Fab

NEW YORK–Online design retailer Fab.com has opened its first solo showroom, a two-level open space located in SoHo on Wooster Street here. Open to the public through June, the showroom allows consumers to experience off-line what it has previously only available online, said a spokesperson. The showroom signals the company’s first real push into privateMore »

Sears to Explore Sale of Sears Canada

Sears Canada

HOFFMAN ESTATES, Ill.-Sears Holdings said it is considering a possible sale of its 51 percent stake in Sears Canada or a potential sale of Sears Canada as a whole, along with other strategic alternatives. The company said it intends to hire an investment banking firm to explore all of the alternatives. Meanwhile, Sears Canada’s boardMore »

Macy’s Q1 Net Up, Sales Down

Macy’s Inc.

CINCINNATI-In spite of a drop in sales, Macy’s managed to raise its first-quarter net income by 3.2 percent, to $224 million. An improvement in gross margin and reductions in expenses keyed the bottom-line pickup in the quarter, which ended on May 3. Gross margin increased by 10 basis points to 38.9 percent. Selling, general andMore »

Retail Sales Relatively Flat in April

Census Bureau

WASHINGTON-U.S. retail sales totaled $434.6 billion in April, up a bare 0.1 percent from March and 4 percent from April of last year, according to this morning’s monthly retail sales report from the U.S. Census Bureau. The sales figures for the channels that sell home furnishings presented a mixed bag last month. Furniture and homeMore »

Tuesday Morning CEO Ramps Up Turnaround Efforts

Michael Rouleau

DALLAS-Tuesday Morning narrowed its third-quarter net loss from $12.4 million to $8.4 million, and is set to begin what its CEO, Michael Rouleau, termed the final phase of its turnaround. The retailer’s numbers for the quarter, which ended on March 31, improved thanks to increased sales and more effective cost controls. Net sales rose 2.6More »