Retail

Walmart Net Rises 3.6 Percent in Second Quarter

Walmart Net Rises 3.6 Percent in Second Quarter

BENTONVILLE, Ark.–Net income for Walmart finished the second quarter at $3.6 billion, up 3.6 percent from the second quarter of 2009. The world’s largest retailer posted a net sales gain of 2.8 percent to $103 billion in the quarter, which included an 11 percent jump in international sales. Driving global sales were strong growth inMore »

Second-Quarter Profit Up 6.8 Percent for Home Depot

Second-Quarter Profit Up 6.8 Percent for Home Depot

ATLANTA–Home Depot registered net income of $1.2 billion for the second quarter, up 6.8 percent from the 2009 second quarter. Expense control proved to be the key to the enhanced bottom line for the nation’s largest home-improvement retailer. Home Depot’s total operating expenses dropped 0.5 percent, and its gross margin firmed by 42 basis pointsMore »

Net Loss Rises for Spectrum Brands in Third Quarter

Net Loss Rises for Spectrum Brands in Third Quarter

MADISON, Wis.–For the third quarter which saw the closing of the company’s merger with Russell Hobbs, Spectrum Brands reported a loss of $86.5 million, up from the third-quarter loss of $36.5 million last year. The merger played a central role in the reddening in the company’s bottom line, according to a Spectrum statement. Cash andMore »

Gracious Home Files for Bankruptcy

Gracious Home Files for Bankruptcy

NEW YORK–Gracious Home, a fixture in Manhattan for home furnishings for 47 years, filed for bankruptcy on Friday. Jordan Smilowitz, the president and chief operating officer of the three-store chain, said the company will continue operating through the bankruptcy. “We intend to emerge from these proceedings with a significantly improved balance sheet and, consequently, greaterMore »

Lowe’s Net Rises 9.6 Percent in Second Quarter

Lowe’s Net Rises 9.6 Percent in Second Quarter

MOORESVILLE, N.C.–Net income for Lowe’s reached $832 million in the second quarter, up 9.6 percent from the second quarter of last year. The home-improvement retailer logged net sales of $14.4 billion in the quarter, an increase of 3.7 percent, which included a 1.6 percent rise in same-store sales. Lowe’s held the line on expenses. Selling,More »

Cooks’Wares Owner Fricke Dies

Cooks’Wares Owner Fricke Dies

 CINCINNATI–Paul Fricke, owner of Cooks’Wares here died on Aug. 12. Fricke, a longtime Gourmet Catalog store member and group advisor, was 66. “We truly are saddened by this loss of a dear friend and industry confidant,” said Janis Johnson, president of Gourmet Catalog. “Our world will be less perfect without Paul’s informed advice, his excellent productMore »

July Retail Sales Edge Up

July Retail Sales Edge Up

WASHINGTON—Overall U.S. retail sales edged up last month but home continues to be basically flat. Overall sales, helped by automobiles, were $362.7 billion, up 0.4 percent over June and 5.5 percent over July 2009, according to figures released today by the U.S. Census Bureau. But home was a different story. Furniture and home-furnishings stores sawMore »

J.C. Penney Goes from Loss to Profit in Second Quarter

J.C. Penney Goes from Loss to Profit in Second Quarter

PLANO, Texas—Second-quarter net income for J.C. Penney totaled $14 million, compared to a $1 million net loss in the second quarter of 2009.The company, however, lowered its forecast for the overall year, citing an “uncertain” outlook for the back half of the year. Expense controls helped to improve the department-store retailer’s bottom line in spiteMore »