Finance & Capital Management

PHILADELPHIA — Five Below has proposed a secondary offering of 7,000,000 shares of its common stock, amid reports that sales are not as bad as originally feared.

San Francisco -- Williams-Sonoma reported that its revenue increased 4.8% to $1.01 billion for the nine-week period ended Dec.30.The company also backed its fourth-quarter and full-year forecast.

Williams-Sonoma will discuss its performance in more detail in March when it releases its fourth quarter results.

Company president and CEO Laura Alber said the chain's performance reflected the strength of its brands even amid a time of consumer uncertainty and intense promotional activity across the retail industry.

The first indication that something big was brewing with Walmart on the domestic sourcing front came last week.

That’s when Walmart announced internally at that SVP of home, Michelle Gloeckler, would assume additional responsibilities for a new U.S. sourcing and manufacturing initiative. Reporting to Gloeckler is Greg Hall who was named vp of U.S. sourcing and manufacturing after previously serving as vp of marketing for Walmart.com.

RACINE, Wis. — SC Johnson is marking its 90th anniversary of donating to the local United Way.

For nearly a century, the family-owned company known for brands such as Glade, Pledge and Scrubbing Bubbles has donated more than $50 million in cumulative contributions to the local nonprofit organization.

Philadelphia — Specialty value retailer Five Below's fourth quarter total sales for the period from October 28, 2012 through January 12, 2013 increased 34% to $158.5 million, while comparable store sales for the same period increased 4.2%.
 
Five Below has proposed a secondary offering of 7,000,000 shares of its common stock, amid reports that sales are not as bad as originally feared.

JACKSON, Miss. — Cal-Maine Foods, the nation’s largest egg producer, has elevated two operations executives. Kevin Lastowski and Chris Myers have both been promoted to VP of operations.

New York -- Delhaize Group announced that it would close 33 under-performing Sweetbay stores in Florida by mid-February. The shutterings, which are part of a broader reorganization plan, amount to about one-third of the chain.

“While these decisions are difficult, especially given the impact on our associates, customers and communities, these actions will continue to enhance the performance of our overall store portfolio and further enable us to deliver profitable growth and accelerate shareholder value,” the company said in a statement.

Walmart U.S. president and CEO Bill Simon isn’t running for elected office, but he sure sounded like a politician earlier this week as he laid out a three-tiered plan the retail industry can implement to restore U.S. economic growth.