Finance & Capital Management

Pittsburgh -- Dick's Sporting Goods has agreed to make a 20 million pound investment ($31.75 million) in U.K. sports retailer JJB Sports plc, which operates over 180 stores in the United Kingdom and Ireland.

Dick's will purchase 18.75 million pounds ($29.76 million) in junior secured convertible notes and 1.25 million pounds ($1.98 million) in ordinary shares of JJB Sports. The transaction is subject to approval of the British company's shareholders.

Union, N.J. -- Bed Bath & Beyond Inc.’s profit in the fourth quarter rose to $351.0 million, from $283.5 million a year ago.

Revenue for the quarter ended Feb. 25 increased 9.1% to $2.73 billion. Same-store sales were up 6.8%.

In a conference call with analysts, the chain said it anticipates opening a total of 40 stores across all its concepts this fiscal year.
 

New York -- Target Corp., The TJX Cos., and Ross Stores reported stronger-than-expected March sales as warm weather put consumers in a spending mood. Both retailers also revised their first-quarter outlooks upward on the results.

Target said its same-stores sales rose 7.3% in March, helped by warm weather. Analysts had predicted a 5.4% increase.

New York -- Many apparel retailers and department stores registered solid gains in March, as an early spring brought out shoppers looking for seasonal merchandise earlier than they typically would. Last month was the warmest March in North America in more than 50 years, according to weather data provider Planalytics.

Macy’s, Kohl’s Corp., Limited Brands and Gap Inc. were among the retailers who topped analyst estimates.

CHICAGO — Catherine Lindner, Walgreens VP retail marketing, has been named vice chair of the Network of Executive Women, the association announced Tuesday. Under the NEW's bylaws, Lindner will assume the post of board chair when the term of the current board chair — Walmart SVP home Michelle Gloeckler — expires in October 2012.

NEW YORK — Saks has named Michael Burgess as president of its direct business, effective May 7, 2012. Burgess will report to Denise Incandela, EVP and chief marketing officer for Saks Fifth Avenue and current president of Saks direct.

Peterborough, N.H. -- Eastern Mountain Sports announced plans to open three stores during the next three months.

The company is moving an existing location at the Plaza at Buckland Hills in Manchester, Conn., approximately 12 storefronts down into a new, 18,831-sq.-ft. site. It also is opening a 20,442-sq.-ft. store in South Portland, Maine, and a 13,013-sq.-ft, location in North Brunswick, N.J.

Deerfield, Ill. — Walgreens posted March sales of $6 billion, a decrease of 4.3%, compared with the same month in fiscal year 2011.

New York -- More than half of consumers (67%) said they plan to spend the same or more at retailers than they did last year, a nine percentage point increase from last year, according to the 2012 Spring Consumer Pulse Survey by Deloitte. Consumers also feel slightly better about the economy this year than last; 57% of survey respondents said the economy has been recently recovering, compared with 52% last year.

New York -- In-store convenience store sales grew 2.4%, reaching a record $195.0 billion in 2011, according to data released Wednesday by NACS (National Association of Convenience Stores). Combined with $486.9 billion in gasoline sales, total convenience store sales in 2011 were $681.9 billion.

More than 80% of in-store sales are from five categories: cigarettes (38.1% of in-store sales); foodservice (16.9%); packaged beverages (14.3%); beer (7.3%); other tobacco products (4.0%).