FINANCE

Dollar Tree’s Q1 profit up 5.3%

BY CSA STAFF

Chesapeake, Va. Dollar Tree said Thursday its fourth-quarter net income rose 5.3% to $63.6 million, despite inventory-related charges, as same-store sales increased and new stores added to revenue.

Sales rose 12.6% to $1.35 billion, from $1.2 billion. Same-store sales increased 6.5%, on top of a 9.2% increase for first quarter 2009.

“I am pleased with the continued momentum in our business,” president and CEO Bob Sasser said. “Both traffic and average ticket increased during the quarter driving sustained growth in sales and earnings. Leading categories in the first quarter included health and beauty care products, food, household consumables, and party goods.”

During the first quarter, Dollar Tree opened 74 stores, closed six stores, and expanded or relocated 34 stores. Retail selling square footage increased 6.5%, compared with a year ago, to 33.0 million sq. ft. The company has said it plans to open 220 namesake stores and 20 Deal$ stores this year. As of the end of the period, the company operated 3,874 stores.

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Toys’R’Us raises $1.8M for Autism Speaks

BY CSA STAFF

WAYNE, N.J. Toys“R”Us, U.S. announced that its fourth annual nationwide in-store fundraising campaign to benefit Autism Speaks, North America’s largest autism science and advocacy organization, raised nearly $1.8 million.

“For the fourth consecutive year, our customers and employees demonstrated their desire to help solve the autism puzzle by generously supporting our campaign to benefit Autism Speaks,” said Jerry Storch, chairman and CEO of Toys“R”Us. “At Toys“R”Us, we are committed to improving the lives of children and families in need, and we’re proud that our efforts will help Autism Speaks fund much-needed research, as well as advocacy efforts.”

During the campaign, the company said it created several programs to help parents and caregivers of children with autism. In collaboration with Autism Speaks and the National Lekotek Center, a nonprofit organization dedicated to making play accessible for children with disabilities, the company identified toys that can help children with autism develop crucial skills while playing alongside siblings and friends.  The “Ten Toys That Speak To Autism,” a special subset of the annual Toys“R”Us Toy Guide for Differently-Abled Kids, provides toy suggestions specifically for families and friends of children with autism.  With guidance from leading safety organizations and Autism Speaks, Toys“R”Us also developed Safe Play Tips that are relevant for children with autism. The “Ten Toys That Speak To Autism” and Safe Play Tips are available year-round at Toysrus.com/AutismSpeaks. 

Since the partnership launched in 2007, Toys“R”Us, the Toys“R”Us Children’s Fund and customer contributions have combined to provide Autism Speaks with more than $8.4 million. 

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BJ’s quarterly income up, raises FY guidance

BY CSA STAFF

NATICK, Mass. BJ’s Wholesale Club reported net income for the first quarter of 2010 of $26.1 million, or 49 cents per diluted share. For the first quarter of 2009, the company reported net income of $24.3 million, or 45 cents per diluted share.

Net sales for the first quarter of 2010 increased by 12.9% to $2.55 billion and comparable-club sales increased by 7.8%, including a contribution from sales of gasoline of 3.6%. Excluding the impact of gasoline, merchandise comparable-club sales increased by 4.2%. Net sales for the first quarter of 2009 increased by 0.2% to $2.26 billion and comparabl- club sales decreased by 1.5%, including the negative impact from sales of gasoline of 9%. Excluding the impact of gasoline, merchandise comparable-club sales increased by 7.5%.

The company also announced revised earnings guidance. For the year ending Jan. 29, 2011, the company now expects to report earnings per diluted share in the range of $2.58 to $2.68 and net income in the range of $136.9 million to $141.9 million. Previous guidance was for earnings per diluted share in the range of $2.54 to $2.64 and net income in the range of $133.1 million to $138.1 million.

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