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Wet Seal profit drops in Q2, sales miss Street
August 20, 2010

The Wet Seal said Thursday that its second-quarter net income fell by nearly half as consumer spending remained volatile. The teen retailer reported net income of $1.6 million for the quarter ended July 31, compared with net income of $3.1 million in the year-ago period. Revenue dropped to $131.5 million from $136.4 million. Wall Street expected revenue of $133.6 million.

Staples Profit Up 40%, Warns On Tax Rate
August 19, 2010

LONDON -- Office-products retailer Staples Inc. on Thursday said second-quarter net income rose to $129.8 million, or 18 cents a share, from $92.4 million, or 13 cents a share, in the same period a year ago. Adjusted earnings, which exclude a $22 million pre-tax integration and restructuring expense, were 20 cents a share, Staples said. A survey of analysts by FactSet Research produced a consensus forecast of 20 cents. Sales were flat at $5.5 billion. The company said it no longer expects Congress to extend provisions that allow companies to defer income tax on certain foreign earnings. Staples said

Buckle Q2 profit falls 17%, misses Street
August 19, 2010

The Buckle reported Thursday that net income for the quarter ended July 31 declined 17% on higher costs and weaker sales. The teen retailer earned $20.7 million, compared with about $25 million in the same quarter a year ago.Revenue fell 2% to $188.6 million, from $192.9 million a year earlier. Analysts expected revenue of $192.4 million.Same-store sales fell 7.3% in the quarter.Teen merchants were among the hardest hit in the second-quarter as consumers began to pull back on spending.

Bon-Ton narrows Q2 loss
August 19, 2010

The Bon-Ton Stores, parent company of Boston Store and other department store chains, reported Thursday that it narrowed its second-quarter loss by 3% to $33.7 million, compared with a loss of $34.8 million the year before.Sales for the quarter dipped to $608.6 million, from $609.2 million a year ago.Same-store sales edged up 0.2%.Bon-Ton Stores operates 278 stores, including 11 furniture galleries, in 23 states. It runs stores under the Bon-Ton, Bergner’s, Boston Store, Carson Pirie Scott, Elder-Beerman, Herberger’s and Younkers nameplates and, in the Detroit area, under the Parisian nameplate.

Sears posts quarterly loss; sales dip
August 19, 2010

NEW YORK (Reuters) - Sears Holdings Corp reported a quarterly loss on Thursday as consumers curbed spending in a grim U.S. economy. The operator of Sears department stores and Kmart discount stores said its net loss narrowed to $39 million, or 35 cents a share, in the second quarter ended July 31 from $94 million, or 79 cents a share, a year earlier. Sales fell $93 million to $10.5 billion. That missed the analysts' average estimate of $10.6 billion, according to Thomson Reuters I/B/E/S. Earlier this week, the retailer's Canadian

New York & Co.'s loss widens in Q2
August 19, 2010

) New York & Co. said Thursday it posted a loss of $88.5 million in the period ended July 31, compared with a loss of $4.8 million in the year-ago period. Excluding one-time charges related to exiting its five accessories concept stores as well as other items, the company's net loss was $29.3 million. Revenue fell to $243.3 million, down from $247.8 million last year. Analysts expected revenue of $244.7 million. Same-store sales declined 1.8% in the quarter. In a statement, New York & Co. said that the second-quarter results were negatively affected by higher levels of markdowns to

Delta Apparel profit up 89%
August 19, 2010

Greenville-based Delta Apparel, Inc. continued its strong earnings growth, reporting today record sales and an 88.8% increase in net income for its fiscal year ended July 3. For the fourth quarter, net sales increased 20.5% to $126.2 million, and net income was $5.7 million, up from 42% from $4 million in the prior-year quarter. Gross margins improved 70 basis points to 23.9%. For the year, net sales increased 19.5% to a record $424.4 million, from $355.2 million in the prior year. Net income increased 88.8% to $12.2 million versus $6.5 million in fiscal year 2009. “We are encouraged to

Aeropostale Reports Jump In Second-quarter Profit
August 19, 2010

SAN FRANCISCO -- Aeropostale Inc. late Thursday reported second-quarter net income of $43.6 million, or 46 cents a share, up from $38.6 million, or 38 cents a share, in the year-ago period. Revenue rose 9% to $494.7 million from $453 million last year. Analysts surveyed by Thomson Reuters had forecast the clothing retailer to earn 46 cents a share on sales of $503 million. Copyright © 2010 MarketWatch, Inc.

Williams-Sonoma blows past quarterly estimates
August 19, 2010

NEW YORK/DETROIT (Reuters) - Upscale home-goods chain Williams-Sonoma Inc posted a far stronger-than-expected quarterly profit as it used mailers and exclusive merchandise to lure more shoppers. The operator of Williams-Sonoma cookware stores and the Pottery Barn furnishings chain said net profit was $30.8 million, or 28 cents a share, in the second quarter ended on Aug. 1, compared with $399,000, or break-even per share, a year earlier. Excluding items, the company earned 31 cents a share. Analysts on average were expecting 22 cents, according to Thomson Reuters I/B/E/S. Net sales