Retailers’ 2nd-quarter profits show strides in profitability but where are the sales?

Snapshot of retailers’ 2nd-quarter earnings

Second-quarter profits from major retailers underscore how cost-cutting moves helped profitability, and the market saw reason for hope in the four reports Tuesday. But retailers continue to grapple with weak consumer spending.

Here’s a snapshot of Tuesday’s results, including same-store sales, or sales at stores open at least a year, a key barometer of a retailer’s health.

—Home Depot Inc., the world’s largest home improvement merchant:

EARNINGS: Fell 7 percent

REVENUE: Fell 9 percent

SAME-STORE SALES: Fell 8.5 percent

OUTLOOK: Raised annual profit forecast

STOCK: Rose 3.1 percent to close at $26.93

— Target Corp., clothing, home, food and personal care chain:

EARNINGS: Fell 6.3 percent

SALES: Fell 2.6 percent

SAME-STORE SALES: Fell 6.2 percent

OUTLOOK: Issued annual profit outlook above Wall Street forecasts

STOCK: Rose 7.6 percent to close at $44.32

—TJX Cos., home and clothing discounter:

PROFIT: Rose 31 percent

SALES: Rose 4 percent

SAME-STORE SALES: Rose 4 percent

OUTLOOK: Issued fourth-quarter profit outlook below Wall Street estimate

STOCK: Fell 3 percent to close at $34.33

—Saks Inc., luxury department store chain:

PROFIT: Lost 54.5 million, almost double the second-quarter loss of $32.7 million a year earlier

SALES: Fell 15 percent

SAME-STORE SALES: Fell 15.5 percent

OUTLOOK: CEO Steve Sadove said he doesn’t see a “rapid turnaround in the consumer.”

STOCK: Rose 6.9 percent to close at $5.72