San Antonio — The Progressive Retailers Organization was at the Westin La Cantera Hill Coun
Hoffman Estates, Ill. — Sears Holdings reported a deeper net loss and lower comp store sales for its Sears and Kmart operations in its fiscal third quarter, ended Oct. 27.
Net loss from continuing operations in the quarter was $498 million, compared with a $410 million loss in the prior year’s third quarter. Operating loss was $428 million in the third quarter, compared with the prior year’s $447 million.
Bentonville, Ark. – Wal-Mart Stores said cost reductions and productivity improvements contributed to a 9 percent increase in its fiscal third-quarter profits.
Earnings topped $3.6 billion for the three months ended Oct. 31, while net sales increased 3.4 percent to $113.2 billion, including a $1.7 billion negative impact from unfavorable currency exchange rates.
Hong Kong — VTech Holdings today reported higher revenue and profit for the six-month period ending Sept. 30, citing growth of its electronic learning products (ELPs) segment in North America and Europe.
Revenue for the six months increased by 2.1 percent over the same period last year, to $876.1 million. Growth in contract manufacturing services (CMS) as well as higher revenue from telecommunication products and ELPs in Asia Pacific also contributed to the increase, the company said.
Framingham, Mass. — Staples reported a net loss on a GAAP basis of $569 million in its fiscal third quarter, ended Oct. 27, and a slight decrease in net sales.
As a result of previously announced charges, on a GAAP basis, Staples reported a net loss of $569 million from continuing operations, compared with net income of $324 million in the third quarter of 2011.
The operating loss was $357.1 million in the quarter, compared with operating income of $529.2 million in last year’s fiscal third quarter.