Finance & Capital Management

Fort Worth, Texas -- Pier 1 Imports Inc. said that its total revenue for the fourth quarter, ended Feb. 25, increased a better-than-expected 11.8% to $477 million. Same-store sales rose 10.3%.

The chain said total revenue for the fiscal year ended Feb. 25 climbed 9.8% to $1.53 billion.

The home décor retailer is upbeat about its first-quarter prospects.

NEW YORK — Foot Locker Inc. grew its fourth-quarter profit 42% amid higher sales and cost cuts.

The company earned a better-than-expected $81 million in the three months that ended Jan. 28, up from $57 million in the year-ago period.

Revenue increased 8% to $1.5 billion, from $1.39 billion. Same-store sales were up 7.5% in quarter.

During fiscal 2011, Foot Locker opened 70 new stores, relocated or remodeled 182, and closed 127. The chain had 3,369 total stores as of Jan. 28, down from 3,426 at the end of the previous fiscal year.

Toronto -- Sears Canada Inc. said on Friday it is shutting down three downtown stores in Vancouver, Calgary and Ottawa. The move follows an announcement last month by Sears Holdings, the majority owner of Sears Canada, that it will raise about $770 million by spinning off parts of its business and selling prime real estate.

Under normal circumstances a dividend increase of 9% would be regarded as pretty solid, but Walmart has spoiled its investors in recent years, so when it boosted its annual dividend to $1.59 from $1.46 this week the increase was viewed as puny.

Suffern, N.Y. -- Ascenta Retail Group Inc., whose brands include Dressbarn, Maurices, and Justice, said its fiscal second-quarter profit rose 50% on higher sales. The company raised its earnings forecast for the current fiscal year.

Ascena said that during the quarter ended Jan. 28 it earned $63.7 million, compared with $42.5 million in the same period a year before.

Revenue during the quarter rose 15% to $862 million. E-commerce sales jumped 61% to $52 million in the quarter.

NASHVILLE, Tenn. — Genesco has appointed Thurgood Marshall, Jr. to its board of directors. Marshall is a partner in the Washington, D.C. office of Bingham McCutchen LLP. He also serves on the boards of Corrections Corporation of America, Ethics Resource Center, and the Ford Foundation and as chairman of the board of governors of the United States Postal Service.

Columbus, Ohio -- Big Lots’ fourth-quarter net income rose 4% to $114.7 million for the period ended Jan. 28, up from $110.1 million a year earlier. The chain also said it anticipates 90 new store openings in the United States in 2012.

Big Lots’ revenue in the quarter rose 10% to $1.67 billion, from $1.52 billion.

GREEN BAY, Wis. — General merchandise retailers Shopko Stores and Pamida has completed their merger that will create a $3 billion company that serves largely rural communities in 22 states.

The combined entity will retain the Shopko name. Shopko will be headquartered in Green Bay and Pamida’s corporate headquarters in Omaha, Neb., will be consolidated into the Green Bay office over the next several months.