Retail

Retailers Present Strong Fourth-Quarter Numbers

Retailers Present Strong Fourth-Quarter Numbers

NEW YORK–Major U.S. retailers including Sears, Target, Macy’s and Home Depot reported strong fourth quarter results this morning. Sears posted a whopping 126 percent increase in fourth-quarter net income, to $430 million, while Target’s net profit improved by 54 percent to 936 million. Both Home Depot and Macy’s transformed red numbers into black in theirMore »

Lowe’s Net Jumps 26.5 Percent in Fourth Quarter

Lowe’s Net Jumps 26.5 Percent in Fourth Quarter

MOORESVILLE, N.C.–Fourth-quarter net income for Lowe’s registered at $205 million, 26.5 percent ahead of last year’s fourth-quarter profit. Net sales edged up 1.8 percent to $10.2 billion in the quarter, and gross margin improved by 122 basis points. These items helped offset a 4 percent gain in total expenses. For the full fiscal year, Lowe’sMore »

Container Store’s Tindell to Keynote Housewares Show

Container Store’s Tindell to Keynote Housewares Show

ROSEMONT, Ill.–Kip Tindell, chairman and chief executive officer of The Container Store, will deliver the keynote address at the upcoming International Home & Housewares Show. Tindell will speak on “The Value of an Employee-First Culture During Tough Times.” His talk will begin at noon on Sunday, March 14, the opening day of the show, inMore »

J.C. Penney Net Falls 5.2 Percent in Fourth Quarter

J.C. Penney Net Falls 5.2 Percent in Fourth Quarter

PLANO, Texas–Fourth-quarter net income for J.C. Penney totaled $200 million, 5.2 percent less than one year ago. The department-store retailer saw its bottom line decline due to a 3.6 percent drop in net sales, which totaled $5.6 billion in the quarter and which included a 4.5 percent fall in same-store sales; and an 8.2 percentMore »

Walgreens to Acquire Duane Reade

Walgreens to Acquire Duane Reade

DEERFIELD, Ill.–Walgreens has struck a deal to acquire the Duane Reade pharmacy chain from Oak Hill Capital Partners. The purchase price, all in cash, is $1.075 billion, which includes the assumption of debt, according to a joint statement from the two companies. The deal includes all 257 Duane Reade stores in the New York CityMore »

Brookstone Posts Fourth-Quarter Net of $55.1 Million, Reverses Loss

Brookstone Posts Fourth-Quarter Net of $55.1 Million, Reverses Loss

MERRIMACK, N.H.–Brookstone reported net income of $55 million for its fiscal fourth quarter, turning around from a fourth-quarter loss of $117.4 million from one year ago. The reversal reflected a net-sales gain of 3.4 percent, to $227.7 million; a whopping 1,250 basis-point increase in gross margin, to 45.2 percent; and the absence of a $89.8More »

Warren Shoulberg Blog: Presents of Mine

Warren Shoulberg Blog: Presents of Mine

This has not been a funny year. There has not been much to laugh about for the millions of people out of work, for those who have watched their personal financial situations deteriorate and for all the companies struggling to survive the worst economic period in several lifetimes. So, in this annual ritual of suggestingMore »

Thain Takes Charge at CIT

Thain Takes Charge at CIT

NEW YORK–John A. Thain has been named chairman and chief executive officer of CIT, effective immediately. According to a company statement, Thain will “continue CIT’s transition to a more streamlined commercial lender focused on serving the small-business and middle-market sectors, and optimizing the company’s business model.” CIT emerged from Chapter 11 bankruptcy protection in December.More »