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.
Steve Aoki held a presentation, a runway show and outdoor concert for his men's line Dim Mak. Here's a look from his spring 2018 collection, which was titled "Paradise Found." #wwdfashion #wwdmens (📷: George Chinsee)
"It's really hard sometimes. I think I have a reputation for being really tough and aggressive and pushy but I really am a very shy person who wants to be liked, and that's the conflict constantly. There's something that takes hold - I want people to like me, I don't want to be mean - but if I see something that just cries out to be answered, I go for it," says renowned NBC News correspondent Andrea Mitchell. (📷: @axeldupeux)