Marketing

After 30 years in the drug store sector, Michael Bloom left CVS Caremark in September 2011 to become president and COO of Family Dollar Stores. The extreme-value chain has adopted an aggressive growth strategy in recent years, and plans to open 450 to 500 stores in 2012.

Family Dollar is equally committed to improving existing locations. Under its ambitious store-reinvention program, an estimated 1,000 locations are scheduled to be renovated, relocated or expanded this year.

A phenomenon that continues to boggle my mind and, in many cases impress me, is how the Texas economy continues to flourish. Even in the midst of the recent economic downturn that left few retail markets untouched, the Lone Star State remained one of the few bright spots in a recessionary sky.

Framingham, Mass. -- TJX Cos. reported that its fiscal fourth-quarter profit rose 42% to $475.3 million, from $334.4 million a year earlier. The owner of Marshalls, HomeGoods and T.J. Maxx also announced plans to repurchase up to $1.3 billion of stock this fiscal year.

For the quarter, sales rose 6% to $6.7 billion. Same-store sales increased 7%.

"We enter a new fiscal year with considerable momentum in our business and are off to a very strong start in 2012," said CEO Carol Meyrowitz.

Fort Meyers, Fla. -- Chico's FAS reported that its fourth quarter earnings rose a better-then-expected 21%, helped by a strong performance of its White House | Black Market brand.

For the quarter, the chain posted a profit of $25.1 million, up from $20.7 million a year earlier.

Sales rose 20% to $569.2 million. Same-store sales increased 8.7%. By division, the Chico's/Soma Intimates brands' comparable sales increased 5.5% and White House | Black Market same-store sales increased 15.4%.

CINCINNATI — Macy's continues to see improved financial performance, reporting fourth-quarter sales and earnings today that exceeded management’s expectations.

The company reported fourth-quarter earnings per diluted share of $1.74, compared with diluted earnings per share of $1.59 for the fourth quarter of 2010. Sales for the quarter increased 5.5% to $8.7 billion from $8.3 billion last year. Same-store sales for the quarter increased 5.2%.

CITY OF INDUSTRY, Calif. — Newegg Inc., the electronics-focused e-retailer, has promoted Bob Bellack, the current president and CFO of Newegg North America, to CEO of Newegg North America. Dr. S.C. Lee has assumed the role of vice chairman of Newegg North America.

BENTONVILLE, Ark. — Wal-Mart Stores' investment in China continues to grow as the company now has a controlling stake in one of the country's fast-growing e-commerce websites. The company announced that it has reached an agreement to increase its investment in the holding company of Yihaodian, bringing its total ownership stake to approximately 51%. Closing of the transaction is subject to Chinese government regulatory approval.

BENTONVILLE, Ark. — Walmart’s U.S. stores division regained customer traffic during the fourth quarter to post a 1.5% same-store sales increase and continues gather momentum as familiar strategies and effective marketing are resonating with customers, the company said Tuesday morning in conjunction with the release of quarterly results.

SEATTLE — REI (Recreational Equipment Inc.), a national outdoor gear and clothing retailer, has announced that Angela Owen has been named SVP marketing and Lee Fromson has become SVP merchandising. 

"With more than 50 combined years with the outdoor industry, Angela and Lee have a wealth of experience in driving innovation and leading essential company business units," said Brian Unmacht, REI's EVP. "They have well-deserved reputations for developing high performing teams and are highly regarded for their strategic leadership."

BRENTWOOD, Tenn. — Tractor Supply Company has announced that, effective Feb. 15, Gregory Sandfort assumed the title of COO in addition to his role as president. As planned, Stanley Ruta, who previously served as EVP and COO, retired from Tractor Supply Company effective Feb.  As part of this transition, Ruta served in the role of VP special projects since July 2011.