Retail, Earnings | featured news

Retail sales contracted in March for the second time in three months, a sign the American economy may have stumbled at the end of the first quarter.

Costco's fiscal second-quarter net income climbed 39 percent as it pulled in more money from membership fees, sales improved and it recorded a large tax benefit. The wholesale club operator earned $547 million, or $1.24 per share, for the period ended Feb. 17. That compares with $394 million, or 90 cents per share, a year earlier.

Amazon.com Inc shares hit a record on Tuesday after it reported better-than-expected quarterly profit, fueled by the growth of higher-margin businesses during the fiercely competitive holiday quarter.

Best Buy's worse-than-expected second-quarter earnings may provide ballast for the company's founder and his hope to buy it back. But the results also raise the question of whether the struggling retailer has time to turn itself around, in public or in private.

The company reported net income of $7 million, or 1 cent a share, on sales of $12.8 billion. It was less profit than analysts had estimated, but the revenue was in line with forecasts.

RadioShack Corp. said today that it’s eliminating its dividend to shareholders as it reported a second quarter loss. The Fort Worth-based consumer electronics retailer reported a net loss of $21 million, or 21 cents a share, compared with a profit of $24.9 million, or 24 cents a share a year ago. Total sales increased 1.2 percent from a year ago and same-store sales were flat.

Barnes & Noble posted a loss for its fiscal fourth quarter on sales that barely inched higher. The loss, while narrower than the one a year earlier, was larger than expected and revenue growth fell short of hopes. Sales of the Nook e-reader fell.

Target Corp. is reporting a 5.2 percent drop in earnings for the fourth quarter, as the retailer pushed big discounts to get tight-fisted shoppers to buy during the holiday season.

Best Buy's profit fell 30% as same-store sales continued to slide. The electronics retailer also revised its full-year earnings view.

Big Lots posts decline in quarterly profit, Tiffany shows gain.