Finance & Capital Management

Natick, Mass. -- BJ’s Wholesale Club confirmed on Thursday that it will potentially put it up for sale.

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.

New York City -- 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.

J.C. Penney Co. 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.

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.

Sunbury, Pa. -- Weis Markets reported Thursday that net income for fiscal 2010 increased 8.7% to $68.3 million, compared with $62.8 million in the prior year.

Sales for the year increased 4.1% to $2.6 billion. Same-store sales edged up 1.0%.

Weis Markets currently operates 164 stores in its home state of Pennsylvania and in Maryland, New York, New Jersey and West Virginia.

Washington, D.C. -- A report released Thursday by the Institute for Supply Management said that the U.S. service sector, which includes retailers, grew in January at the fastest pace in five years. The report, along with other data, suggests a growing economy and stronger hiring.

The private trade group said its index of service sector activity rose to 59.4 last month. That was up sharply from December's reading of 57.1. It was the fourteenth straight month of growth and the highest reading since August 2005.

SAN FRANCISCO -- Gap Inc. has announced a series of significant management and organizational changes at Gap brand designed to drive more consistent results in North America and to provide a new and dynamic creative leadership structure that will deliver sustainable global growth. The changes are effective immediately.

By Brian Leary, [email protected]