Earnings & Sales Reports, Retail | featured news

Zale, Tiffany book revenue gains over key shopping season.

Best Buy's earnings jumped 61% as the retailer rebounded from a weakened year-earlier quarter on higher revenue and margins.

The top warehouse-style retailer in the U.S. said net profit climbed in the fiscal second-quarter as it posted higher sales, driven by international operations.

Third-quarter earnings at the retailer fell 8.9 percent amid weak housing and renovation markets, but the retailer raised its full-year outlook.

Target's earnings rose 18%, snapping a streak of eight quarterly declines, as the discount retailer saw improvement in its retail and credit-card operations. Saks swung to a $1.9 million profit.

Revenue and profit were up at Wal-Mart, but sales fell 0.4 percent at stores open at least a year.

Sears posted a $94 million loss on compensation and restructuring charges, widely missing expectations, as revenue fell.

Wal-Mart's earnings were flat on lower same-store sales. The retail giant raised the low end of its fiscal-year outlook and plans to speed up cost-cutting measures.

Barclays said first-half net profit rose 9.9% as investment-banking fees and trading gains offset weaker performance in its retail arm, and said it expects the rest of the year to be challenging.