Retail

Down Quarter, Up Year for Ross Stores

Ross Stores_Dress For Less

DUBLIN, Calif.-Ross Stores posted a 7.9 percent drop in fourth-quarter net income, to $218 million, while at the same time reporting a gain of 6.4 percent in fiscal-year net income, which totaled $837.3 million. The quarterly retreat in the bottom line stemmed from a 0.7 percent decline in net sales to $2.7 billion, which includedMore »

Pier 1 Updates Q4, FY Outlook

Pier 1

FORT WORTH, Texas-Pier 1 Imports said it expects same-store sales for the 13-week fourth quarter ending on March 1 to finish 5 percent behind the same-store sales for the 13 weeks ending on Feb. 23, 2013. Pier 1 also said same-store sales for the quarter ending on March 1 would likely be flat compared toMore »

Ullman: J.C. Penney “Well On Our Way” to Turnaround

Johnson Out, Ullman Back as J.C. Penney CEO

PLANO, Texas-As CEO Myron Ullman III declared the company closer to its turnaround goals, J.C. Penney posted fourth-quarter net income of $35 million, compared to a net loss in last year’s fourth quarter of $552 million. For the fiscal year ending on Feb. 1, J.C. Penney reported a net loss of $1.4 billion, compared toMore »

Castagna Upped to Bed Bath & Beyond COO

Bed Bath & Beyond

UNION, N.J.-Eugene Castagna, Bed Bath & Beyond’s chief financial officer and treasurer, has been promoted to chief operating officer of the home specialty retailer. Castagna has been with Bed Bath & Beyond since 1994, and became chief financial officer and treasurer in 2006 after performing a number of roles in finance and operations throughout hisMore »

Kohl’s Net Down 11.6 Percent in Q4

Kohls Logo2010

MENOMONEE FALLS, Wis.-With sales lagging for both the fourth quarter and the fiscal year, Kohl’s turned in an 11.6 percent fall in net income for its fourth quarter, to $334 million, and a decline of 9.8 percent in fiscal-year net income, to $889 million. Net sales in the quarter slipped 2.6 percent to $6.1 billion,More »

Sears Slims Q4 Loss; Fiscal-Year Loss Increases

Sears

HOFFMAN ESTATES, Ill.-Sears Holdings said its fourth-quarter net loss fell from $489 million last year to $358 million in this year’s quarter. Meanwhile, the company’s net loss for the fiscal year ending on Feb. 1 rose from $930 million to $1.4 billion. Edward Lampert, Sears Holdings’ chairman and CEO, said the company’s results continue toMore »

Best Buy Goes from Red to Black

Best Buy Posts Q1 Loss

MINNEAPOLIS-Ending a year of what it called “substantial progress,” Best Buy reported net income for both its fourth quarter and fiscal year ending on Feb. 1, as opposed to net losses for both periods one year ago. Fourth-quarter net income totaled $293 million, compared to last year’s net loss of $409 million. For the fiscalMore »

Target Net Plummets for Q4, Fiscal Year

Target

MINNEAPOLIS-Still recovering from the effects of the breach into credit-card data of millions of its customers, Target reported a 45.9 percent drop in fourth-quarter net income, to $520 million. For its fiscal year, which ended on Feb. 1, Target’s net fell 34.3 percent to $2 billion. Net sales in the quarter totaled $21.5 billion, downMore »