Retail

TJX First-Quarter Profit Falls 20 Percent

TJX First-Quarter Profit Falls 20 Percent

FRAMINGHAM, Mass.–First-quarter net income for The TJX Cos. took a 20 percent dive to $266 million, as rising expenses and reduced gross margin took its toll. Selling, general and administrative expenses jumped 16 percent in the quarter, which ended on April 30, and rose 191 basis points as a percentage of sales to 18.3 percent.More »

Gas Sales Drive BJ’s Q1 Income Rise

Gas Sales Drive BJ’s Q1 Income Rise

WESTBOROUGH, Mass.–With sales of food and gasoline pushing overall net sales up by double digits, and with the company’s ability to keep expenses steady, BJ’s Wholesale Club enjoyed a 29 percent increase in net income in its first quarter, to $33.7 million. Net sales grew 10 percent to $2.8 billion in the quarter, which endedMore »

Gilt Groupe Launches Gilt Taste

Gilt Groupe Launches Gilt Taste

NEW YORK–Gilt Groupe targets foodies with the launch of its latest site, Gilt Taste. But while it does sell food and related products, Gilt Taste is also an online magazine, and is headed by Ruth Reichl, the former Gourmet editor-in-chief. “Food people are always hungry for new experiences, open to new tastes, and constantly lookingMore »

Surtex Panel: Americans More Aware of Design

Surtex Panel: Americans More Aware of Design

NEW YORK–U.S. consumers are showing a greater interest in surface design, according to a panel of design experts held yesterday at the Surtex trade show. Titled “America Embraces Design…Finally,” the session included David Bolotsky, founder and CEO of UncommonGoods.com; Elizabeth Bournaud, design with Francois Bournaud of Paris; David Hedley, managing director of Artwork Design; MichelleMore »

Walmart Net Edges Up 3 Percent in First Quarter

Walmart Net Edges Up 3 Percent in First Quarter

BENTONVILLE, Ark.–A strong performance from Sam’s Club and its global operations ferried Walmart to a 3 percent gain in net income in its first quarter, to $3.4 billion. Overall net sales rose 4.4 percent to $103.4 billion, including gains of 11.5 percent in sales from Walmart International and 9.4 percent from Sam’s Club. While grossMore »

Home Depot Net Climbs 12 Percent

Home Depot Net Climbs 12 Percent

ATLANTA–Effective cost management offset a slight drop in sales to bring a 12 percent increase in first-quarter net income to The Home Depot, to $812 million. Net sales slipped 0.2 percent to $16.8 billion for the quarter, which ended on May 1, and included a 0.6 percent decline in same-store sales. But the home-improvement retailerMore »

Pantone Debuts its Nylon Brights Collection

Pantone Debuts its Nylon Brights Collection

CARLSTADT, N.J.–Pantone has launched its newest color group, The Pantone Fashion + Home nylon brights collection. With 21 electric shades in a nylon format, this new collection now provides designers developing products in nylon materials with a standard for accurate color selection, specification and reproduction. The collection comes as brights have been making a resurgenceMore »

J.C. Penney Launches Cost Initiatives

J.C. Penney Launches Cost Initiatives

PLANO, Texas–In the wake of a positive first quarter, J.C. Penney has begun efforts to further streamline its operations. In its statement detailing its first-quarter results, the department-store retailer said it would streamline its operations in its stores, its supply chain and its home office; and implement efforts to optimize its marketing expenses. While itMore »