Finance & Capital Management

One day after Walmart announced a deeper commitment to domestic sourcing, Whirlpool said it planned to spend $40 million on U.S. manufacturing plant that will result in the creation of 400 jobs by 2018. The investment will double the size of Whirlpool’s plant in Greenville, Ohio, where KitchenAid brand small appliances are made, and bring the total workforce at the facility to about 1,400 employees. The plant has been in operation since 1942, and Whirlpool said it will launch the expansion project following final approval of state and local assistance.

Seattle -- Amazon said it will open a 1-milllion-sq-.ft. distribution center in Kent, Wash., which will be its fourth in Washington state. IDS Real Estate Group and Clarion Partners are building the site as part of a joint venture. Amazon’s other Washington fulfillment centers are located in Sumner and Bellevue, and a DuPont site is near completion.

Sears Hometown and Outlet Stores said fourth-quarter same-store sales declined 3.4% as two of the company’s best known brand had disappointing results. Sales in the fourth quarter declined 4.5% to $602.4 million due to the combination of a 3.4% same-store sales decline and an extra week in the fourth quarter the prior year, which added sales of $36.5 million. The same-store sales decline was made up of a 4% decline at the Hometown division and 1.5% decline at the outlet division.

Lynnwood, Wash. - Net income in the fourth quarter of fiscal 2013 at Zumiez Inc. increased 17.3% to $26.9 million, from $22.9 million last year. Net sales increased 1.1% to $226.8 million from $224.4 million, although same-store sales dropped 2.2%. Results for the quarter include a $5.8 million benefit related to Zumiez’ acquisition of Blue Tomato. Zumiez plans to open up to 55 new stores during fiscal 2014, including as many as seven in Canada and five in Europe.

Amazon plans to open a nearly 1 million-sq.-ft. fulfillment center in Kent, Wash. This will be the company’s fourth fulfillment center in the state. Amazon’s other Washington fulfillment centers are located in Sumner and Bellevue, and a DuPont site is near completion.

New York -- Dollar General, Ross Stores and Dick’s Sporting Goods are bullish on expansion. For 2014, Dollar General has budgeted $450 million to $500 million for capital expenditures, and plans to open 700 new locations. This follows a record year of square footage expansion during which the extreme-value discounter opened 650 stores. Ross Stores also continues to expand in 2014. The off-price apparel and home fashions retailer is on track to open about 95 new locations in 2014, comprised of about 75 Ross Dress for Less and 20 dd's Discounts.

New York -- Target Corp. on Friday acknowledged its security software picked up on suspicious activity after a cyber attack was launched, but it decided not to take immediate action. The chain also advised that its security breach last year could be even more extensive than reported so far, Reuters reported.

Hibbett Sports experienced a significant slowdown in January due to significant weather-related store closures and a less favorable sales impact this year from the college football championship game. However, sales trends improved in February as weather patterns normalized and the retailer rolled out its spring assortment. Net sales for the 13-week period ended Feb. 1 increased 0.2% to $217.8 million compared with $217.4 million for the 14-week period ended Feb. 2, 2013. Comparable store sales increased 1.7% on a comparable 13-week period.