Finance & Capital Management

CITY OF COMMERCE, Calif. -- Ninety-nine Cents Only Stores reported that retail sales for the third quarter ended Dec. 25 increased by 1.5% to $354.1 million and same-store sales decreased 0.7%.

Consolidated net income increased by $2.1 million to $26.6 million, or 38 cents per diluted share, versus $24.5 million in the prior year, or 35 cents per diluted share

COLUMBUS, Ohio -- Big Lots announced that  fourth quarter retail sales for the fiscal quarter ended Jan. 29 were $1.5 billion, an increase of 3.8% compared with $1.451.5 million for the fourth quarter of fiscal 2009.  

Comparable-store sales were flat for the fourth quarter of fiscal 2010, which is consistent with the low end of the company's previously communicated guidance of flat to an increase of 2%. 

From a merchandising perspective, furniture, home, and seasonal were the best performing categories, the company reported.

DEERFIELD, Ill. — Walgreens on Thursday posted January sales of $5.9 billion, representing an increase of 11.3% from last year. Early morning trading of Walgreen stock was up 51 cents to $42.48.

Only 2.8 percentage points of that increase can be attributed to the acquisition of Duane Reade, the Deerfield, Ill.-based retailer stated. Total front-end sales increased 11.5% in January, and pharmacy sales increased 10.8%, accounting for 66.1% of total sales for the month.

BURLINGTON, N.J. -- Burlington Coat Factory Warehouse Corp. announced that net sales for the fourth quarter ended Jan. 29, 2011 were $1.188 billion compared with $1.12 billion for the comparative period ended Jan. 30, 2010, a 6.1% increase. Comparative-store sales increased 1.2% for the quarter.

WESTBOROUGH, Mass. — After months of speculation, BJ's Wholesale Club early Thursday morning confirmed the company has decided to explore and evaluate strategic alternatives. Coupled with that announcement was a positive sales story for the year.

MINNEAPOLIS — Target said that although its comparable-store sales were below expectations in the South and Northeast, the company believes overall sales will be driven by two of its recent initiatives.

Target chairman, president and CEO, Gregg Steinhafel, said that while the company "expects the economy to remain challenging, Target's PFresh remodel program and REDcard Rewards 5% savings program continue to operate in line with expectations."

NEW YORK --Dillard’s was the clear winner in the department store category in January, posting a same-store sales increase of 6%, which edged results from both Macy’s and Saks.

JCPenney was the big disappointment, as same-store sales dropped an unexpected 1.2%. A survey of analysts by Thomson Reuters produced a consensus estimate of same-store sales up 1.8%.

The retailer said January sales were impacted by lower levels of clearance inventory as well as by adverse weather conditions.

NEW YORK -- Dillard’s was the clear winner in the department store category in January, posting a same-store sales increase of 6%, which edged results from both Macy’s and Saks.

JCPenney was the big disappointment, as same-store sales dropped an unexpected 1.2%. A survey of analysts by Thomson Reuters produced a consensus estimate of same-store sales up 1.8%.

The retailer said January sales were impacted by lower levels of clearance inventory as well as by adverse weather conditions.

WASHINGTON -- The National Retail Federation announced that it has promoted Carleen Kohut, who has served as NRF SVP and CFO for the past ten years, to COO, as part of board-approved restructuring plan. Additionally, Susan Newman, VP conferences, has been promoted to SVP conferences and Mike Gatti, formerly SVP communications, has been named SVP member relations.

GRAND RAPIDS, Mich. — Net sales for Spartan Stores slightly declined nearly 0.6% to $782.3 million during the third quarter.

During the quarter, which ended Jan. 1, Spartan also experienced a rise in operating earnings, which increased from $13.7 million in third quarter 2009 to $16.6 million. Third-quarter earnings from continuing operations improved 42% percent to $7.5 million, or 33 cents per diluted share, from $5.3 million, or 23 cents per diluted share.