Retail

Sears Holdings Posts Q1 Loss of $170M as Sales Drop

Sears Holdings Posts Q1 Loss of $170M as Sales Drop

HOFFMAN ESTATES, Ill.-As it had predicted in a statement issued earlier this month, Sears Holdings reported a first-quarter net loss of $170 million, compared with net income of $16 million in last year’s first quarter. The company attributed the red ink primarily to sales declines at its Sears, Kmart and Sears Canada stores. Same-store salesMore »

First-Quarter Profit Jumps 62 Percent for Williams-Sonoma

First-Quarter Profit Jumps 62 Percent for Williams-Sonoma

SAN FRANCISCO-Fueled by revenue growth in both its retail and direct-to-consumer segments, Williams-Sonoma enjoyed a powerful 62 percent increase in first-quarter net income, to $31.6 million. Total net revenues in the quarter, which ended May 1, rose 7.4 percent to $770.8 million. The gain included a companywide increase of 9 percent in comparable-brand sales (aMore »

Bon-Ton Net Loss Rises to $36 Million in First Quarter

Bon-Ton Net Loss Rises to $36 Million in First Quarter

YORK, Pa.-A drop-off in sales along with higher merchandise costs drove Bon-Ton’s first-quarter net loss to $36 million, compared to last year’s net loss of $23.5 million in the first quarter. Net sales fell 1.7 percent to $649.9 million, including a decrease in same-store sales of 1.2 percent. Bud Bergren, Bon-Ton’s president and CEO, saidMore »

Steinmart Net Rises 11 Percent in First Quarter

Steinmart Net Rises 11 Percent in First Quarter

JACKSONVILLE, Fla.-Increases in net sales and income from special items helped Steinmart to a first-quarter gain of 11 percent in net income, to $15.9 million. Net sales grew 0.8 percent to $303.5 million, including a same-store sales increase of 1.5 percent for the quarter, which ended on April 30. The retailer also posted “other income”More »

Target Bottom Line Up 2.7 Percent in First Quarter

Target Bottom Line Up 2.7 Percent in First Quarter

MINNEAPOLIS–A sterling performance from its credit-card segment and expense controls pushed Target’s first-quarter net income to $689 million, 2.7 percent ahead of the bottom line from the first quarter of last year. Although revenues from the credit-card segment fell 18 percent, Target slashed credit-card expenses by 69 percent in the quarter, which ended on AprilMore »

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 »