FINANCE

Limited Brands spent $100K on lobbying in Q1

BY CSA STAFF

New York City Victoria’s Secret parent company, Limited Brands, spent $100,000 on lobbying in first quarter 2010, focusing on legislation involving consumer product safety, health care and other matters, according to a recent disclosure report.

That matches what was spent in fourth quarter 2009 and is below the $170,000 spent in first quarter 2009.

The retailer also lobbied on legislation involving credit-card reform, taxation of e-commerce sales, domestic and international trade compliance, and port security during the January-March period, according to a report it filed April 20 with the House clerk’s office.

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RadioShack extends partnership with Lance Armstrong

BY CSA STAFF

FORT WORTH, Texas RadioShack’s chairman and CEO Julian Day announced at the company’s annual meeting on May 24 that RadioShack has expanded its partnership with Lance Armstrong and the Livestrong foundation. The company said it will introduce exclusive Livestrong-branded products and accessories in all stores beginning in July.

 

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DSW sees improved sales, earnings for Q1

BY CSA STAFF

COLUMBUS, Ohio DSW announced net income of $30.2 million on net sales of $449.5 million for the first quarter ended May 1, compared with net income of $7.1 million on net sales of $385.8 million for the first quarter ended May 2, 2009. Same-store sales increased 16.2% versus a decrease of 4.7% last year.

Diluted earnings per share were 67 cents for the first quarter of fiscal 2010 compared with diluted earnings per share of 16 cents last year.

The company reiterated its estimate of an increase in annual comparable-store sales of approximately 6% to 8% and annual diluted earnings per share of approximately $1.65 to $1.75 for fiscal 2010.  The estimated year-over-year earnings increase is expected to occur in the first six months of fiscal 2010.  The second half performance implied in the guidance recognizes the more challenging last year comparisons for both sales growth and merchandise margins.

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