Finance & Capital Management

COLUMBUS, Ohio — Limited Brands reported that adjusted earnings per share for the 14-week fourth quarter ended Feb. 2  were $1.76 compared with $1.50 for the 13-week fourth quarter ended Jan. 28, 2012.  

Comparable-store sales for the quarter increased 5%. Net sales were $3.86 billion for the quarter compared with $3.5 billion for the same period last year.  

BOSTON — Merchant Warehouse, a leading innovator of payment technologies and merchant account services, has named Greg Cohen chief revenue and strategy officer. With extensive experience in implementing business strategies, as well as channel and value chain expansion across the payments industry, Cohen will be responsible for expanding partnership, payment and commerce opportunities within the Genius™ Customer Engagement Platform and accountability to ensuring the strength and growth of the company’s existing business.

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

MINNEAPOLIS — Start-up expenses and other costs related to its Canadian entry reduced Target's earnings per share for the fourth quarter by approximately 18 cents.

The company reported fourth quarter net earnings of $961 million, or $1.47 per share, compared with $1.45 per share for the same period last year. Adjusted earnings per share, a measure the company believes is useful in providing period-to-period comparisons of the results of its U.S. operations, were $1.65 in fourth quarter 2012, up 10.1% from $1.49 in 2011.

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.

A 1.8% decline in second quarter same store sales at AutoZone was attributed to a two week tax return processing delay by the Internal Revenue Service.

The delay kept tax refunds out of the hand of AutoZone customers inclined to perform maintenance on their vehicles during the retailer’s second quarter ended February 9. Last week, Walmart also cited the tax processing delay as a source of sale weakness when it reported a 1% comp increase that was at the low end of its forecast range for a 1% to 3% increase.

New Albany, Ohio -- Abercrombie & Fitch Co. announced the promotion of Amy Zehrer to the position of EVP stores, from SVP, effective immediately.

Zehrer has been with Abercrombie & Fitch since 1992; she joined as a manager-in-training at the brand’s Rosedale Mall location in Roseville, Minn. Over the last 21 years, Zehrer has proven herself as a definitive leader, evolving the Abercrombie & Fitch brand and playing an integral part in the success of its international expansion, the company said.

ROSEVILLE, Calif. — Revionics, aprovider of end-to-end merchandise optimization solutions, has appointed Jeff Edwards as SVP and managing director of Asia Pacific. Edwards has been successfully serving as Revionics’ SVP sales and account management for the company’s North American efforts. In his new role, Edwards will be responsible for strategic sales and business development efforts across the entire Asia Pacific region.