Marketing

Gap reported a 12.5% decline in fourth-quarter profit, with its results impacted by heavy discounting during the holidays. The retailer also issued a profit outlook for the full year that is below analysts' expectations, and said it will open 30 additional U.S. stores during fiscal year 2014.

Gap reported net income of $307 million for the three-month period ended Feb. 1, better than the Street expected, down from $351 million in the year-ago period.

Kohl’s reported a profit of $334 million, or $1.56 per share, for the fourth quarter ended Feb. 1, down from $378 million, or $1.66 a share, a year earlier. The retailer attributed the dip to an increase in e-commerce shipping costs and holiday season markdowns.

But the retailer expressed confidence in its inventory levels and assortment, adding that it is well-positioned for spring and anticipates sales increases.

The Clorox Company has entered into an agreement with Soccer United Marketing (SUM), the commercial arm of Major League Soccer, making it an official partner of the U.S. Soccer Federation and the Federación Mexicana de Futbol (FMF, also known as the Mexican national team).

Hoffman Estates, Ill. - Sears Holdings Corp. narrowed its loss for the fourth quarter as it lowered expenses and reduced inventory.

Sears said Thursday that it lost $358 million for the period ended Feb. 1, compared with a loss of $489 million a year ago.

Sales plunged 14% to $10.6 billion, from $12.3 billion. Sears’ revenue performance was hurt partly by having one less week in the latest quarter and having fewer Sears and Kmart stores, the company said.

New York -- Robert Graham has signed a new lease agreement to open a branded retail store featuring the full Robert Graham collection in Scottsdale Fashion Square, Scottsdale, Ariz. The store, slated to open in spring 2014, will carry the complete range of Robert Graham, including men's sportswear, premium denim, footwear, furnishings, accessories, outerwear, and women's sportswear.  

New Delhi, India – Narendra Modi, candidate of opposition party Bharatiya Janata Party (BJP) for Indian prime minister, reportedly has made statements in favor of global online retailing and India’s small retailers learning to compete with large retailers. According to Reuters, at a meeting of the Confederation of All India Traders, Modi said small local retailers should improve the quality of their goods to a level closer to that of large global competitors, and also consider entering contracts with large online retailers to create virtual trade.

Columbus, Ohio – L Brands Inc. saw its fourth-quarter profit increase 19% as the prior year was negatively impacted by special charges. The owner of Victoria’s Secret, Bed, Bath & Body Works and other brands earned $489.6 million for the quarter that ended Feb. 1, compared to $411.4 million, in the prior year.

Revenue for the quarter, which included an extra week, declined to $3.82 billion from $3.86 billion. Same-store sales were up 1%.

For the full year, L Brands earned $903 million, and reported sales of $10.77 billion.

San Francisco -- Gap Inc. on Thursday reported a 12.5% decline in fourth-quarter profit, with its results impacted by heavy discounting during the holidays. The retailer also issued a profit outlook for the full year that is below analysts' expectations, and said it will open 30 additional U.S. stores during fiscal year 2014.

Gap reported net income of $307 million for the three-month period ended Feb. 1, better than the Street expected, down from $351 million in the year-ago period.