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  • Zumiez net income, sales zoom in Q4; plans 55 new global stores

    Lynnwood, Wash. - Net income in the fourth quarter of fiscal 2013 at Zumiez Inc. increased 17.3% to $26.9 million, from $22.9 million last year. Net sales increased 1.1% to $226.8 million from $224.4 million, although same-store sales dropped 2.2%. Results for the quarter include a $5.8 million benefit related to Zumiez’ acquisition of Blue Tomato. Zumiez plans to open up to 55 new stores during fiscal 2014, including as many as seven in Canada and five in Europe.

  • Brown Shoe sidesteps winter in fourth quarter

    Severe winter weather may have affected Brown Shoe Company’s fourth-quarter results, but CEO, president and chairperson Diane Sullivan focused on the company’s fiscal-year results as she looks ahead to growing the retail and wholesale businesses in 2014.

  • Uniqlo to enter Pennsylvania

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  • Genesco invests in omnichannel capabilities following Q4 results

    Genesco chairman, president and CEO Robert J. Dennis said that the company’s overall fourth-quarter results were lower than expected, thanks to inconsistent sales patterns and severe winter storms that affected its key markets.

    All is not grim, however, as the company is making investments to bolster its omnichannel capabilities, which Dennis expects will protect near-term profitability and allow the company to expand its retail footprint.

  • Kroger in stock buyback

    Cincinnati -- The Kroger Co. said Thursday that it will buy back up to $1 billion of its shares. The repurchase program replaces its existing plan, which had roughly $2 million remaining.

    Kroger also declared a regular quarterly dividend of 16.5 cents per share, payable June 1 to shareholders of record May 15.
    During the last four quarters, Kroger has used its strong free cash flow to return more than $928 million to shareholders through share buybacks and dividends.  

  • A Q4 exception to the rule, Steinmart ready to grow

    Not many retailers can say they were very pleased with exceptional results during a compressed holiday season and challenging fourth quarter, but Steinmart did.

    Same-store sales increased 3.1% for the fourth quarter ended Feb. 1, while total sales for the 13-week period declined to $360.8 million from $368.6 million because the fourth quarter the prior year included an extra week, which added sales of $15.8 million to the prior-year period.

  • Aeropostale to receive $150 million financing from Sycamore Partners; Q4 loss widens

    New York -- Aeropostale on Thursday announced it has signed an agreement with private equity firm Sycamore Partners for $150 million in financing and a strategic partnership. The teen retailer also reported its fifth straight quarterly loss amid a 15% decline in same-store sales, and announced it will close 50 stores in 2014.

    Sycamore will provide Aeropostale with a five-year $100 million term loan facility, and a ten-year $50 million term loan facility that includes a sourcing arrangement with MGF Sourcing, an affiliate of Sycamore.

  • CST Brands names new board member

    San Antonio -- Stephen Smith, former co-CEO of the Toronto-based restaurant chain owner and operator Cara Operations Limited, has been elected to the CST Brands' board of directors. Smith's most recent experience was with Cara as co-CEO and, prior to that, CFO of Cara. Previously, Smith served for many years as an executive of Canadian grocer, Loblaw Companies Limited.

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