Retail

Target Boosts Second-Quarter Profit by 14.3 Percent

Target Boosts Second-Quarter Profit by 14.3 Percent

MINNEAPOLIS—Second-quarter net income for Target registered at $679 million, up 14.3 percent from the second quarter of one year ago. Net sales for the mass-merchant retailer rose 3.8 percent to $15.1 billion, which included a 1.7 percent increase in same-store sales. The company’s bottom line benefited from “thoughtful control of expenses,” said Gregg Steinhafel, Target’sMore »

Net Rises 2 Percent for BJ’s in Second Quarter

Net Rises 2 Percent for BJ’s in Second Quarter

NATICK, Mass.—Second-quarter net income edged up 2 percent for BJ’s Wholesale Club, totaling $35.8 million. The warehouse club’s results included an 8.6 percent jump in net sales to $2.7 billion, which included a 4.4 percent rise in comparable-club sales. Much of the same-store increase came from gasoline sales; without sales at the pumps, BJ’s comparable-clubMore »

Best Buy Theater to Light Up Times Square

Best Buy Theater to Light Up Times Square

NEW  YORK—The Nokia Theater, which opened in Times Square in 2005, will be renamed the Best Buy Theater next month. Best Buy will receive prominent logo placement throughout the 2,100-seat David Rockwell-designed theater. Best Buy’s production arm Yellow Tag Productions will produce theater-specific content to run inside and outside the theater. The theater’s name willMore »

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 »