Finance & Capital Management

New York City -- Saks Inc. fourth-quarter net income climbed 48% amid strong sales of handbags, fine jewelry and men's and women's apparel. The earnings topped expectations.

For the period ended Jan. 28, Saks earned $37 million, compared with $25 million last year. Quarterly revenue rose 7% to $925.1 million from $866.3 million, beating Wall Street's $918.9 million estimate.

Same-store sales were up 7.7%.

Bentonville, Ark. -- Wal-Mart Stores' investment in China continues to grow as the company now has a controlling stake in one of the country's fast-growing e-commerce websites. The company announced that it has reached an agreement to increase its investment in the holding company of Yihaodian, bringing its total ownership stake to approximately 51%. Yihaodian is a leader in online grocery sales, as well as in such categories as consumer electronics and apparel.

Closing of the transaction is subject to Chinese government regulatory approval.

Dallas -- Alliance Data Systems announced it has signed a multi-year renewal agreement to continue providing private label credit card services to The Buckle, Kearney, Neb., which operates more than 430 stores in 43 states, as well as a robust e-commerce business.

Buckle cardholders will continue to earn "B-Reward" points with every purchase. Exclusive to cardholders, the B-Rewards points-based loyalty program allows cardholders to accumulate points that can be redeemed for dollars-off certificates for in-store or online purchases.

Cincinnati -- Macy’s net income in the three months ended Jan. 28 rose a better-than-expected 12% to $745 million as the chain, buoyed by strong holiday and online sales. The company has now seen net income rise in three straight quarters.

Bentonville, Ark. -- Wal-Mart Stores Inc.'s fiscal fourth-quarter profit dropped 4.2%  on higher costs, but its U.S. business continued to draw in more shoppers.

Net income was $5.16 billion in the three months ended Jan. 31, compared with $6.05 billion in the year ago period. Net sales, excluding membership fees from its Sam's Club division, rose 5.8% to $122.3 billion.

Is it any wonder that online giants Google and Amazon are both reportedly planning to test the waters with physical stores? Certainly not when you look at some of the retail stats from Apple’s amazing first quarter (ended Dec. 31, 2011). The company had record revenues of $46.3 billion, and its stores continue to astound.

Consider:

HOFFMAN ESTATES, Ill. — A spokesman for Sears Holdings Corp. said that the owner of Sears and Kmart stores is cutting 100 jobs at its headquarters in Hoffman Estates, Ill.

According to Chris Brathwaite, Sears spokesman, the cuts cover a range of positions. The terminated employees were notified Thursday.

The retailer has not said whether additional cuts are planned.

SKOKIE, Ill. — A member-owned cooperative serving the food industry has appointed a new leader.

Topco has named Randall Skoda as its new president and CEO following the retirement of Steven Lauer. Skoda has served as interim president and CEO since December of last year. Prior to that, Skoda served as EVP for four years.

Nordstrom’s transition from a retailer best known as an operator of upscale department stores to an off-price discounter is poised to continue in 2012 as expansion plans for Rack outlet stores outpace those of full line Nordstrom stores.

New York -- Advance Auto Parts achieved record sales, profits and store expansion last year and with many of the economic factors that contributed to its 2011 success, expected to remain in place this year expectations are high that 2012 will be another one for the record books.