As part of its ongoing commitment to return value to shareholders, L Brands, Inc. (NYSE:LB) announced today that its Board of Directors has authorized a new $250 million share repurchase program, which includes $10.3 million remaining under its previous $250 million share repurchase program.
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The U.S. Postal Service announced a loyalty program designed to help smaller businesses, according to a press release obtained by Total Retail. Registered business users of USPS Click-N-Ship will earn credits by purchasing postal products they're already using for their shipping needs. Priority Mail and Priority Mail Express postage purchased online through Click-N-Ship will generate credits that can then be applied to future purchases of these products. Click-N-Ship business account users will earn $40 credits for every $500 spent on Priority Mail and Priority Mail Express labels. The program will launch nationally on Aug. 1. Existing business accounts will be auto-enrolled in the program. New Click-N-Ship business account users will earn a one-time $40 Welcome Bonus for the first $500 spent on Priority Mail and Priority Mail Express postage. In addition, the Postal Service is offering a one-time $20 Introductory Bonus for any registered Click-N-Ship business user for $500 spent in August and September this year.
Tractor Supply on Thursday reported that Q2 net sales rose 4.5% year over year to $4.4 billion, with store comps up 1.5% — the retailer’s “largest sales quarter ever,” CEO Hal Lawton told analysts. A year ago, the company saw comps drop 0.5%.
Gross margin expanded to 36.9% from 36.6% last year, as net income rose 1.1% to $430 million. The company reaffirmed its full-year outlook, saying it expects net sales to rise 4% to 8%, comps to be flat or rise as much as 4% and net income to land between $1.07 billion and $1.17 billion.
In Q2 the retailer opened 24 new Tractor Supply stores and two under the Petsense by Tractor Supply banner, and closed one Petsense by Tractor Supply location. The plan is to open 100 new stores in 2026, with the help of the recent acquisition of 18 Big Lots locations, executives said Thursday.
S&P Global announced the successful completion of its acquisition of Visible Alpha, the financial technology provider of deep industry and segment consensus data, creating a premium offering of fundamental investment research capabilities on S&P Global Market Intelligence's Capital IQ Pro platform. Visible Alpha will be operated within the S&P Global Market Intelligence division. "Visible Alpha and its innovative team are an outstanding complement to S&P Global's culture and capabilities," said Adam Kansler, President of S&P Global Market Intelligence. "The integration of Visible Alpha into S&P Capital IQ Pro demonstrates another transformative leap for our platform and reflects our combined commitment to providing customers with the highest quality investment research, estimates and analytics in the market."