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Finance & Capital Management

  • On Target: Planet Retail’s Take on Target’s Q4 and full-year results

    By Sandy Skrovan, U.S. research director, Planet Retail

  • 7-Eleven targets 50,000 stores by end of Q1

    Dallas -- 7-Eleven announced Tuesday that the company achieved record store growth in 2012 and expects the number of 7-Eleven stores worldwide to pass the 50,000-store mark by the end of the first quarter.

    The c-store chain added nearly 5,000 stores globally in 2012; 1,000 were in the U.S. and Canada. At year’s end, 7-Eleven operated 49,500 stores in 16 countries.

     

  • POS terminal numbers continue strong growth, despite smartphone popularity

    Franklin, Tenn. -- The overall penetration of POS devices continued to expand 3.9% in North America and 4.6% around the globe in 2012, according to The POS Vendor Shipments Database, released Wednesday by IHL Group. Growth is expected to continue at 3.6% worldwide for 2013.  

  • Sears Canada profit dips 3% in Q4

    Toronto -- Sears Canada Inc. reported Wednesday that profit for the fourth quarter dipped 3% to $38.8 million on weakened hardware and electronics sales.

    Revenue fell 5% to$1.25 billion in the period, and same-store sales dropped 3.8%.

    Parent Sears Holdings Corp., which cut its stake in Sears Canada from 90% to 51% last year, said in January that Sears Canada's fourth quarter adjusted earnings would fall by about half.

     

  • Saks comps up slightly in Q4, focused on omnichannel efforts

    NEW YORK — Saks reported that sales for the fourth quarter were up 5.6% over the same period last year. Same-store sales were up 0.7% for the period.

    For the fourth quarter Saks recorded net income of $20.4 million, or 13 cents per diluted share, compared with net income of $37 million, or 21 cents per diluted share for the same period last year.

  • Sales, earnings grow on Dollar Tree

    CHESAPEAKE, Va. — Dollar Tree reported that consolidated net sales for the fourth quarter were $2.25 billion, a 15.4% increase compared with $1.95 billion reported for the quarter ended Jan. 28, 2012. Comparable-store sales increased 2.4%, on top of a 7.3% increase for the fourth quarter 2011.

    Earnings per diluted share for the fourth quarter were $1.01, an increase of 26.3% compared with the 80 cents earnings per diluted share reported for the fourth quarter 2011.

  • Starboard urges Office Depot to sell off interest in Mexican unit

    Boca Raton, Fla. -- Office Depot largest shareholder Starboard Value said Wednesday it sent a letter to the office supply retailer’s board, urging it to sell its 50% joint-venture interest in the Office Depot de Mexico business as soon as possible.

    Starboard, which owns a 14.8% stake in Office Depot, said it believes the value of the JV interest is not fully reflected in the retailer's stock price.

  • J.C. Penney Q4 loss worse than expected; same-store sales fall 32%

    Plano, Texas -- There were no signs of relief for J.C. Penney Co. in the fourth quarter as the company reported a wider-than-expected net loss of $552 million, compared with a loss of $87 million in the year-ago period. The chain did not issue guidance, but did announce would open nearly 20 home-centered shops with different brand partners in 550 stores the spring.

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