Finance & Capital Management

DALLAS — Zale Corp. reported increased revenues and earnings for its second quarter ended Jan. 31, thanks to a successful holiday season.

The company reported that revenues for the quarter were $664 million, an increase of $37 million, or 6%, compared with $626 million in the same period last year. 

Comparable-store sales, which are based on year-over-year merchandise sales, increased 5.8% during the quarter. This increase follows a 7.9% rise in the same period last year. 

FRAMINGHAM, Mass. — TJX Cos. is headed for a strong 2012, thanks to fourth-quarter sales and profit growth. The company reported that its fiscal fourth-quarter profit rose 42% to $475.3 million, from $334.4 million a year earlier. The owner of Marshalls, HomeGoods and T.J. Maxx also announced plans to repurchase up to $1.3 billion of stock this fiscal year.

For the quarter, sales rose 6% to $6.7 billion. Same-store sales increased 7%.

ST. LOUIS — Supervalu subsidiary Save-A-Lot is expanding its presence in Pennsylvania.

The company is slated to open four new stores in Pennsylvania in February and March, bringing the total number of Save-A-Lot stores in the state to 76, the company said.

WASHINGTON — The National Retail Federation expressed its support for President Obama's proposal for business tax reform, and pledged to work with the White House and Congress to win passage of legislation that would significantly lower rates in order to help retailers and other businesses create jobs.

New York City -- Iconix Brand Group reported that its fourth-quarter net income rose 23% on increased sales. The company also announced it was forming a joint venture with Reliance Brands Limited, a part of the Reliance Industries Group, to expand in India. Iconix currently has other similar partnerships in Greater China, Europe and Latin America.

Iconix said its net income totaled $27.2 million in the three months ended Dec. 31, up from $22.1 million in the year-ago period. Revenue rose 8.5% to $95.5 million, from $88 million.

St. Louis -- Save-A-Lot, a wholly owned subsidiary of Supervalu, will open 13 stores in February and March.

The grocer will open three locations in New York bringing the total number of Save-A-Lot stores in the state to 52. In Ohio, it will open three stores, for a total of 128 locations state-wide. The chain will open four stores in Pennsylvania, for a total of 76, and three in Tennessee, for a total of 108.

Washington, D.C. -- The National Retail Federation expressed its support for President Obama's proposal for business tax reform, and pledged to work with the White House and Congress to win passage of legislation that would significantly lower rates in order to help retailers and other businesses create jobs.

There has been lots of buzz and comment over Wal-Mart Stores’ fourth quarter fiscal results. While the chain’s U.S. sales are rebounding, its quarterly profit and sales fell short of Wall Street expectations and its forecasts suggest that results in this quarter and fiscal year may again disappoint analysts.

Here are some interesting comments from Natalie Berg, global research director, Planet Retail, on the chain’s results:

Vacated shells of circa-1985 outlet shopping centers still dot the nation’s highways, but that’s not the format version that is finding a foothold among consumers and retailers.

A new value-oriented center, anchored by top-tier designer names, has opened the eyes and pocketbooks of American shoppers. Mainstream amenities have created the expectation that, while the goods may be discounted, the experience most definitely isn’t.

Despite the fact that the nation is still in the throes of winter, albeit a mild one, open-air centers continue to draw shoppers and generate leasing interest among retailers.

In the early days of upscale lifestyle centers, and before enhanced strip centers and specialty formats, the longevity of some open-air centers came under question as developers, retailers and consumers alike challenged the shopability of the format outside the sunbelt regions.