FINANCE

PetSmart records 28% profit gain in Q1, beats Street

BY CSA STAFF

Phoenix — PetSmart reported Wednesday that net income in the first quarter rose 28% to $70.9 million, compared with $55.6 million in the year-ago period. Results beat Wall Street expectations.

Revenue increased almost 7% to $1.49 billion, from $1.40 billion in the previous year. Same-store sales rose by 5%.

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FINANCE

Children’s Place Q1 profit up 4%, forecasts miss Street

BY CSA STAFF

Secaucus, N.J. — The Children’s Place Retail Stores reported Thursday that profit for the quarter ended April 30 rose 4% to $29.1 million, compared with $27.9 million a year earlier. The retailer cited better product assortment, strong online sales and inventory-control efforts for the improved performance.

Children’s Place also increased the low end of its full-year earnings outlook range, but its 2011 and second-quarter forecasts missed Wall Street’s expectations.

Revenue for the quarter rose 2% to $430.8 million, helped by a 24% increase in online revenue. Wall Street forecast revenue of $432.1 million.

Same-store sales dropped 3.2%.

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FINANCE

The Buckle Q1 profit, sales rise

BY CSA STAFF

Kearney, Neb. — The Buckle reported Thursday that net income for the first quarter rose to $33.5 million, compared with $30.1 million in the year-ago period.

Sales in the quarter ended April 30, 2011, increased 11.8% to $240.1 million. Same-store sales rose 8.1%. Online sales (which are not included in comparable store sales) increased 18.6% to $17.1 million.

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