Content about Generally Accepted Accounting Principles

December 17, 2013

The majority of American shoppers think that holiday discounts advertised by retailers are faked, according to a survey conducted by British marketing consultant David Rawlings.

The majority of American shoppers think that holiday discounts advertised by retailers are faked, according to a survey conducted by British marketing consultant David Rawlings.

Rawlings’ Google survey, "Before-Christmas sales — Do you believe the discounts are genuine?" queried 1,500 American Internet users, and found that more than 70% of those polled answered "no" to that question.

November 27, 2013

Meijer is extending Cyber Monday into a weeklong sales event on Meijer.com, offering customers deep discounts and free shipping on orders of more than $75. The Midwestern retailer will offer Cyber Week savings from Sunday through Dec. 7.

Meijer is extending Cyber Monday into a weeklong sales event on Meijer.com, offering customers deep discounts and free shipping on orders of more than $75. The Midwestern retailer will offer Cyber Week savings from Sunday through Dec. 7.

November 26, 2013

An increase in third-quarter net sales was not enough to bolster Chico’s FAS’s net income, which took a hit from its Boston Proper business.

An increase in third-quarter net sales was not enough to bolster Chico’s FAS’s net income, which took a hit from its Boston Proper business.

The company reported net income of $35.8 million, down 15% from $42 million in the same period a year earlier.

November 20, 2013

Thanks to a housing market that continues to flourish, Lowe's had a solid third quarter, with sizable gains in earnings and sales.

Thanks to a housing market that continues to flourish, Lowe's had a solid third quarter, with sizable gains in earnings and sales.

The company's net earnings jumped 26% to $499 million. Sales for the quarter increased 7.3% to $13 billion, up from $12.1 billion in the year ago quarter. Comparable sales for the quarter increased 6.2%.

August 29, 2013

Fred's experienced growth in sales, customer traffic, average ticket and gross margin for the second quarter ended Aug. 3.

MEMPHIS, Tenn. — Fred's experienced growth in sales, customer traffic, average ticket and gross margin for the second quarter ended Aug. 3.

The company’s net income for the quarter was $3.3 million, or $0.09 per diluted share, compared with net income of $6.1 million, or $0.17 per diluted share, in the year-earlier period. However, the prior-year quarter included a benefit of approximately $4 million, or $0.11 per diluted share, for favorable tax credits. 

August 29, 2013

Regional department store chain Gordman’s gave shareholders a huge gift this week when the private equity controlled company’s board said it had borrowed $45 million to fund a $3.61 special dividend after reporting lackluster second quarter results.

Regional department store chain Gordmans gave shareholders a huge gift this week when the private equity controlled company’s board said it had borrowed $45 million to fund a $3.61 special dividend after reporting lackluster second quarter results.

August 16, 2013

JoS. A. Bank customers did not respond as favorably to some of the company's marketing campaigns as they did in the prior year leading to a total sales decline of approximately 11% in the second quarter ended Aug. 3.

HAMPSTEAD, Md. — JoS. A. Bank customers did not respond as favorably to some of the company's marketing campaigns as they did in the prior year leading to a total sales decline of approximately 11% in the second quarter ended Aug. 3.

The company expects earnings for the quarter to be approximately $0.49 to $0.53 per diluted share, compared with $0.83 per diluted share in the second quarter of 2012.

August 14, 2013

Ace Hardware Corp. experienced sales gains in nearly every department, leading to second-quarter revenue of $1.74 billion, a 9.7% increase from $1.07 billion. Net income increased to $42.3 million, compared to net income of $14.9 million in the same quarter last year.

Ace Hardware Corp. experienced sales gains in nearly every department, leading to second-quarter revenue of $1.74 billion, a 9.7% increase from $1.07 billion. Net income increased to $42.3 million, compared to net income of $14.9 million in the same quarter last year.

CEO John Venhuizen said the co-op is plaese with the results so far in 2013. "Sales increased in virtually every department with significant growth at both wholesale and retail from our Discovery Edge, Level 3 merchandising re-sets and branding inititatives," he said. 

July 18, 2013

Overstock.com reported net revenue of $293.2 million for the second quarter ended June 30, a 22% increase from $239.5 million for the same quarter last year. The growth in net revenue was primarily due to a 21% increase in average order size.

SALT LAKE CITY — Overstock.com reported net revenue of $293.2 million for the second quarter ended June 30, a 22% increase from $239.5 million for the same quarter last year. The growth in net revenue was primarily due to a 21% increase in average order size.

June 7, 2013

Walmart’s board of directors has given the company the green light to repurchase $15 billion of its shares, effective June 6, the company announced at its annual shareholders meeting.

BENTONVILLE, Ark. — Walmart’s board of directors has given the company the green light to repurchase $15 billion of its shares, effective June 6, the company announced at its annual shareholders meeting. 

This program replaces the previous $15 billion program announced on June 3, 2011. As of June 6, the company had approximately $712 million remaining on the 2011 Authorization. Under the share repurchase program, repurchased shares are constructively retired and returned to unissued status.

May 17, 2013

Nordstrom reported its first quarter net income fell a greater-than-expected 3%, hurt by weak demand for spring merchandise and softer performance in the Northeast and Midwest. The company also lowered its full-year sales forecast.

SEATTLE — Nordstrom reported its first quarter net income fell a greater-than-expected 3%, hurt by weak demand for spring merchandise and softer performance in the Northeast and Midwest. The company also lowered its full-year sales forecast.

The results were a rare miss for the upscale department store chain whose shoppers have proved resilient throughout the uncertain economy.

May 9, 2013

Central Garden & Pet's CEO is not settling for the company's margins and bottom line results, despite reporting second-quarter net sales of $498.2 million, a 7% increase over the comparable fiscal 2012 period.

Central Garden & Pet's CEO is not settling for the company's margins and bottom line results, despite reporting second-quarter net sales of $498.2 million, a 7% increase over the comparable fiscal 2012 period.

The company's net income for the second quarter ended March 30 was $22.2 million, compared with net income of $21.6 million in the second quarter of 2012. 

May 2, 2013

Kellogg’s North American first quarter results were solid, but its performance overseas, particularly in the U.K., helped bolster its results. The company reported net sales of $4 billion, an increase of 12%.

Kellogg’s North American first quarter results were solid, but its performance overseas, particularly in the U.K., helped bolster its results. The company reported net sales of $4 billion, an increase of 12%. Meanwhile, internal net sales, which exclude the effects of foreign currency translation, acquisitions, dispositions and integration costs, rose by 2.2 percent over the same period. 

May 1, 2013

Big 5 Sporting Goods Corp. reported upticks in net income, sales and same store sales for first quarter fiscal 2013. Net income grew from $156,000 to $7.5 million.

EL SEGUNDO, Calif. — Big 5 Sporting Goods Corp. reported upticks in net income, sales and same store sales for first quarter fiscal 2013. Net income grew from $156,000 to $7.5 million.

Net sales were $246.5 million, up from $218.3 million a year earlier, while same-store sales rose 10.5%. First quarter sales improved despite the negative impact of the calendar shift of the Easter holiday, when the retailer’s stores are closed.

March 29, 2013

Toys“R”Us reported that sales for the the fourth quarter decreased $155 million to $5.8 billion and that net earnings fell to $239 million from $343 million in the prior year.

WAYNE, N.J. — Toys“R”Us reported that sales for the the fourth quarter decreased $155 million to $5.8 billion and that net earnings fell to $239 million from $343 million in the prior year.

March 5, 2013

American Apparel reported that its net sales for the fourth quarter were up 10% to $173 million and comparable-store sales rose 7% for the same period.

LOS ANGELES — American Apparel reported that its net sales for the fourth quarter were up 10% to $173 million and comparable-store sales rose 7% for the same period.

Net income for the fourth quarter of 2012 was $4.9 million, or 4 cents per common share on a fully-diluted basis, compared with net loss for the fourth quarter of 2011 of $11.2 million or 11 cents per common share.

February 21, 2013

ST. PETERSBURG, Fla. — HSNi Inc. reported that its fourth quarter net sales grew 7% over the prior year to $982.9 million. HSN's net sales increased 7% to $683.8 million, including 11% growth in digital sales. Cornerstone's net sales for the 13-week period in 2012 increased 6% to $299.1 million, including 14% growth in digital sales, compared to the 14-week period in 2011.

GAAP diluted EPS from continuing operations increased 27% to $1 compared with 79 cents in the prior year. 

August 2, 2012

Hhgregg's first quarter loss widened to $5.7 million, or 16 cents per diluted share, from a loss of $0.8 million, or 2 cents per diluted share, for the comparable prior year period, thanks to same-store sales decline of 5.1% and increased expenses.

INDIANAPOLIS — Hhgregg's first quarter loss widened to $5.7 million, or 16 cents per diluted share, from a loss of $0.8 million, or 2 cents per diluted share, for the comparable prior year period, thanks to same-store sales decline of 5.1% and increased expenses.

June 29, 2012

Nike reported that fourth quarter revenues rose 12%t, or 14% on a currency neutral basis, to $6.5 billion, the largest revenue quarter in the company's history. This was a result of higher revenues across every Nke brand geography, key category and product type.

BEAVERTON, Ore. — Nike reported that fourth quarter revenues rose 12%t, or 14% on a currency neutral basis, to $6.5 billion, the largest revenue quarter in the company's history. This was a result of higher revenues across every Nke brand geography, key category and product type.

August 18, 2011

Ross Stores continues to deliver impressive earnings results, reporting net income of $148.3 million, or $1.28 per share for the second quarter ended July 30, compared with net income of $129.3 million, or $1.07 per share, for the same period last year.

PLEASANTON, Calif. — Ross Stores continues to deliver impressive earnings results, reporting net income of $148.3 million, or $1.28 per share for the second quarter ended July 30, compared with net income of $129.3 million, or $1.07 per share, for the same period last year. 

The company reported that sales for the quarter increased 9% to $2.089 billion, with comparable-store sales up 5% on top of a 4% gain in 2010.

May 16, 2011

PHILADELPHIA — Urban Outfitters announced net income of $39 million, or earnings per diluted share of 23 cents for the first quarter ended April 30, compared with net income of $53 million, or earnings per diluted share of 31 cents.

Total company net sales rose by 9% over the same quarter last year to $524 million. Comparable retail segment net sales, which includes direct-to-consumer channels, decreased 1% for the quarter while comparable store net sales decreased 5% for the quarter. 

March 15, 2011

In what can only be a sign that the economic health of the country is improving -- at least for for higher-income consumers, Williams-Sonoma announced that net revenues for the fourth quarter of 2010 increased 9.7% to $1.195 billion versus $1.09 billion in the fourth quarter of 2010, including Internet net revenue growth of 27.2% and a comparable-store sales increase of 5.2%.

SAN FRANCISCO -- In what can only be a sign that the economic health of the country is improving -- at least for for higher-income consumers, Williams-Sonoma announced that net revenues for the fourth quarter of 2010 increased 9.7% to $1.195 billion versus $1.09 billion in the fourth quarter of 2010, including Internet net revenue growth of 27.2% and a comparable-store sales increase of 5.2%.

Diluted earnings per share on a GAAP basis were $1.05 for the quarter compared with 81 cents for the same period last year.