Apple is moving forward on plans to put iPads to work in its retail stores, not just as display models, but as tools to sell its other products. In Australia and other countries, Apple stores have opened with a new setup that makes use of iPads as informational tools to customers around the store, taking the place of the paper-based informational signs next to the company's products.
Newegg Inc., the largest tech-focused pure-play online retailer, announced the official opening of its first-ever "Will-Call" pickup location. Customers of Newegg.com and NeweggBusiness in the Los Angeles area now have the opportunity to save time and money by ordering online and then picking up their orders directly from the Newegg warehouse.
Bon-Ton Stores said that its first-quarter loss grew as it booked hefty debt-related charges and sales declined almost 2 percent. Management blamed unseasonably cold and wet weather for weak sales of seasonal apparel, which forced the retailer to take markdowns and other adjustments.
Williams-Sonoma reported that net income for the quarter ended May 1 hiked 62 percent to $31.6 million from $19.5 million a year earlier, topping company expectations.
GameStop reported record sales and earnings for the first quarter ended April 30. Total sales for the first quarter of 2011 increased 9.5 percent to $2.28 billion, in comparison to $2.08 billion in the prior year quarter.
Look who’s leading a luxe charge in retail: Saks Inc. posted a soaring 51 percent gain in profits for its fiscal first quarter on net income of $28.4 million, or 16 cents a diluted share, from $18.8 million, or 11 cents, a year earlier.
Abercrombie & Fitch says that international sales helped pushed the preppy teen retailer to first-quarter profitability. Abercrombie reported net income of $25.1 million, or 28 cents per share.
Dick's Sporting Goods reported that net income for the first quarter rose to $37.5 million, compared with $26.2 million a year earlier. Net sales increased 6.3 percent to $1.1 billion. Same-store sales rose 2.1 percent. The retailer will also open 34 new Dick's Sporting Goods stores in 2011, as well as remodel 14 existing locations. It also plans to open approximately three Golf Galaxy stores and relocate one Golf Galaxy store this year.
Wal-Mart said that profits jumped almost 4 percent last quarter, even as the retail chain's U.S. sales dipped for the eighth straight quarter.
TJX reported that net income for the first quarter plummeted 20 percent on the closing of its A.J. Wright stores, but strong sales buoyed the retailer’s full-year forecasts. TJX earned $266 million in the quarter ended April 30, compared with $331.4 million in the year-ago period.
