retail news in context, analysis with attitude

• Walmart said that its January same-store sales were up an expectedly high 2.1 percent in the US…and then said that from now on, it will begin issuing forecasts only on a quarterly basis, saying that consumer and economic volatility made monthly forecasts too difficult.

• Spartan Stores reported third quarter sales of $781.9 million, a 9.9 percent decrease from $788.8 million from last year, on same-store sales that were up 3.3 percent over the same period a year ago. Q3 profit was up 17.4 percent to $8.7 million.

• Target Corp. said that its January sales were up 0.8 percent to $4.14 billion, on same-store sales that were off 3.3 percent.

• Ingles Markets said that its fiscal first quarter sales were up 3.6 percent to $804.9 million, on same-store sales that were up 5.4 percent. Q1 net income was down a bit, though, to $11.1 million from $12.7 million a year ago.

• Weis Markets said that its Q4 net income almost doubled, to $17 million, from $8.6 million during the same period a year ago. Quarterly sales rose three percent to $619.4 million from $603 million a year ago, on same-store sales that were up 2.2 percent.

For the just-completed fiscal year, Weis said that earnings fell 8 percent to $47 million, on sales that were up 4.5 percent to $2.42 billion, and same-store sales that were up 4.3 percent.

• Walmart de Mexico, also known as Walmex, said that its January sales were up 9.2 percent to the equivalent of $1.5 billion (US), on same-store sales that were up 2.7 percent compared to the same period a year ago.

• Kellogg Co. reports that its Q4 earnings were $179 million, up seven percent compared to the same period a year ago. Q4 revenue increased to $2.93 billion, up 5 percent from $2.79 billion a year ago.

Kellogg’s annual profit was $1.15 billion for the just completed fiscal year, up from $1.1 billion last year, with revenue that was up nine percent to $12.82 billion.

• BJ’s Wholesale Club reports that its January sales were up nearly 1 percent to $656.7 million from $651 million last year, though same-store sales were off 0.7 percent for the month.

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