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Retail News Breaks Archives Dollar Tree Inc. reported a 22% increase in net income to $94.9 million as sales climbed 11.9% to $1.54 billion during the second quarter of fiscal 2011. Both sales and profits fell at Sears Holdings Corp. during the second quarter as fewer stores in operation, weaker same-store sales and lower gross margins took their toll. Strong sales and margin growth at BJ’s Wholesale Club Inc. propelled net income above both management’s and analysts’ expectations in the second quarter of fiscal 2011. Target Corp. reported a 3.7% increase in second-quarter net earnings to $704 million, or $1.03 per share, beating the consensus projection of 97 cents per share among analysts. Walmart’s international division continued to bolster the retailer’s bottom and top line with another strong performance in the second quarter, but ongoing sales weakness at the Walmart U.S. segment reflected unrelenting economic pressure on its customers, executives said. Walmart has named five executives to senior vice president positions within its merchandising organization.
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