PetSmart reported that net income for its second quarter rose 26 percent to $61.2 million, up from $48.4 million in the year-ago period. Revenue increased 7 percent to $1.49 billion, matching Wall Street expectations. Same-store sales grew 5 percent.
vineyard vines will open its newest retail stores in Massachusetts, Texas, Virginia and New Jersey. With these additions, vineyard vines will now have 20 retail locations across the country, including the previously announced Fashion Island store in Newport Beach, Calif.
The recession has encouraged a host of deal-seeking behavior among consumers, including searching out online and mobile coupons as well as taking advantage of daily-deal offers, which have risen in popularity dramatically.
Hot Topic reported that it tightened its loss in the second quarter to $6.2 million, compared with a loss of $6.3 million a year earlier. The retailer said it will open up to 45 Torrid stores in fiscal 2012.
Park & Bond has teamed up with GQ to launch GQ Selects, a monthly collection of handpicked and curated items from the magazine.
Lowe’s reported that profit for the quarter ended July 29 was $830 million, down from $832 million in the year-ago period. The home improvement retailer closed seven underperforming stores on Aug. 17 and trimmed its earnings forecast for the year.
A week ago, Michael Heller was ready to drop thousands of dollars on a Jaeger-LeCoultre watch that he’d been coveting. But the recent stock market turmoil made him rethink the splurge.
Sears reported a wider-than-expected quarterly loss on weak sales, bigger discounts and higher costs. The company blamed the lackluster sales numbers on weak demand for consumer electronics at both its Sears department stores and Kmart discount chains.
The U.S. online ad market is on a sharp trajectory this year, eMarketer estimates, with spending set to increase 20.2 percent to $31.3 billion. Based on an updated industry breakdown, retail and consumer packaged goods will account for the largest shares of new spending.
HealthWarehouse.com, a retail mail order pharmacy, announced its financial results for the quarter ended June 30. The company's net sales increased $753,059 to $2,519,721, up 43 percent compared to the same period in 2010. This was driven by growth in the company's prescription business.
