Report: Target to close all garden centers in September
Phoenix A report by the Arizona Daily Star on Thursday said that Minneapolis-based Target Corp. will close all 262 of its garden centers in September.
“They are no longer a profitable business for Target and do not provide significant value for our guests,” said Target spokeswoman Jenna Reck, according to the report.
The report said that while the centers are closing, some of the products, such as garden tools, patio furniture and small bags of soil, will remain. All live plants and industrial-size bags of soil will be discontinued.
Whole Foods 3Q sales up 15%
AUSTIN, Texas Whole Foods Market reported that sales for the third quarter ended July 4 increased 15% to $2.2 billion. Comparable-store sales increased 8.8%, or 6.3% on a two-year stacked basis. Identical-store sales, excluding three relocations, increased 8.4%, or 4.6% on a two-year stacked basis.
Income available to common shareholders increased 88% to $65.7 million from $35 million last year,and diluted earnings per share increased 53% to 38 cents.
“We are pleased with our results which compare very favorably to most other food retailers and show we are continuingto gain market share. Our identical-store sales increased 8.4%, accelerating from the second quarter and our highestincrease since 2006. Despite tougher comparisons and the recent dip in reported consumer confidence, our two-yearstacked identical-store sales also sequentially increased to 4.6%,” said John Mackey, co-chief executive officer and co-founderof Whole Foods Market.
DSW reports quarterly sales growth
COLUMBUS, Ohio DSW announced net sales for the second quarter ended July 31 increased 12.3% to $415.1 million compared with $369.5 million for the quarter ended Aug. 1, 2009. Same-store sales increased 12% for the comparable period versus a decrease of 2.9% last year.
The company said it now estimates an annual comparable-store sales increase of approximately 7% to 9% and annual diluted earnings per share of approximately $1.80 to $1.95 for fiscal 2010. This is updated from the company’s previous estimate of an annual comparable store sales increase of approximately 6% to 8% and annual diluted earnings per share of approximately $1.65 to $1.75 for fiscal 2010. Fiscal 2009 annual diluted earnings per share were $1.23.