Colder weather and more conservative shoppers contributed to a drop in Target Corp.'s first quarter 2013 profits, but the company's underlying business remains healthy, executives said Wednesday morning in a conference call with investors.
The National Retail Federation has announced plans to formally oppose a proposed settlement of a federal antitrust lawsuit over credit card swipe fees charged by Visa and MasterCard. NRF is also urging retailers to carefully consider their own decisions before next week’s deadline set by the court.
AutoZone reported net sales of $2.2 billion for the 12-week third quarter period ended May 4, an increase of 4.5% from $2.1 billion for the same period last year. Domestic same-store sales decreased 0.1% for the quarter.
Although Dick’s Sporting Goods reported a year-over-year increase in revenues for first quarter 2013, performance still fell short of Wall Street expectations.
The TJX Companies reported increased net sales during first quarter fiscal 2014. Revenue rose almost 7% from the same quarter a year earlier to about $6.2 billion, while same store sales grew 2% on top of an 8% increase from last year. Net earnings totaled $453 million.
The Home Depot shrugged off bad weather, and thanks, in part, to a recovering housing market, the company reported first quarter sales of $19.1 billion, up 7.4% from last year's quarter, which had one less week.
Family Dollar has named Trade Area Systems, a supplier of enterprise market knowledge systems for retail, its IT Strategic Partner of the Year. The award was presented during the company’s fifth annual IT Strategic Partner Summit.
Macy’s is getting ready for its eighth annual national Shop for a Cause charity shopping event, to be held Saturday, Aug. 24, and the retailer is inviting eligible charities to sign up now.
