By  on May 16, 2006

Last updated 3:01 P.M. EST

Federated Posts Share Increases
NEW YORK — Federated Department Stores Inc. saidMonday it will earn 33 cents per share more than expected in the second quarter because of a favorable tax settlement.The retailer guided second-quarter earnings, including the adjustment solely for the tax settlement, to between 78 cents and 88 cents. It also estimated earnings per share for the year at $3.83 to $4.08.

Wal-Mart Propelled By Upward Sales
NEW YORK — At Wal-Mart Stores Inc., income for the quarter ended April 30 gained 6.3 percent to $2.62 billion, or 63 cents a share, from $2.46 billion, or 58 cents, in the same year-ago period. Sales rose 12.3 percent, which included a same-store sales gain of 3.8 percent for its U.S operation. By division, sales at Wal-Mart stores rose 10.2 percent to $52.5 million, while comps gain 3.8 percent. Sam’s Club sales increased 6.8 percent to $9.8 million, with a 4.3 percent rise in comps. The international operation posted a 22.9 percent gain in sales to $17.3 million.

Saks' Northern Department Store Sale Aids Profits
NEW YORK - Saks Inc. reported a first-quarter profit due to a one-time gain on the sale of its Northern Department Store Group. For the three months ended April 29, income was $81.5 million, or 60 cents a diluted share, compared with $16.2 million, or 11 cents, a year ago. Wall Street consensus estimates had the first-quarter earnings per share at 9 cents. Sales for the quarter, however, declined by 32.9 percent to $1.04 billion from $1.55 billion, while comps decreased by 1.9 percent.

American Eagle Profits Up
NEW YORK - Specialty chain American Eagle Outfitters said first-quarter results for the three months ended April 29 reflected a 16.1 percent gain in profit to $64.2 million, or 42 cents, from $55.3 million, or 35 cents, in the same year-ago quarter. Sales rose 14.4 percent to $522.4 million from $456.5 million, while comps increased 9 percent on top of the 27 percent gain a year ago.

TJX Reports Income Increase
NEW YORK - The TJX Cos. Inc., a specialty retailer of off-price stores, for the quarter ended April 29 posted a 20.8 percent increase in income to $163.8 million, or 34 cents a diluted share, from $135.6 million, or 28 cents, last year. Sales in the quarter rose 6.7 percent to $3.90 billion from $3.65 billion, while comps inched up 1 percent.
For complete coverage, see tomorrow's WWD.

To continue reading this article...

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus