Safeway digested an unprecedented amount of change during the second quarter and still managed to achieve solid profit improvement and a respectable amount of sales growth while strengthening its balance sheet.
Men's Wearhouse has signed a definitive agreement to acquire JA Holding, the parent company of American clothing brand Joseph Abboud, for approximately $97.5 million in cash, subject to certain adjustments.
Another sign of further improvement in the nation’s housing market were results from leading paints manufacturer and retailer Sherwin-Williams, whose net sales for the quarter ended June 30 were $2.71 billion, up 5.5% from the same quarter last year.
Overstock.com reported net revenue of $293.2 million for the second quarter ended June 30, a 22% increase from $239.5 million for the same quarter last year. The growth in net revenue was primarily due to a 21% increase in average order size.
Average spending per school age child is expected to decline this year from 2012 levels, according to the National Retail Federation, setting the stage for heightened competition in an already intensely competitive seasonal selling period.
Revenues at eBay increased 14% to $3.9 billion during the second quarter ended June 30 and profits adjusted to exclude the impact of a divested business increased to $822 million, or 63 cents a share, compared to $730 million, or 56 cents a share.