Strategy

Atlanta-based The Home Depot reported record fourth-quarter and fiscal year results, as it emphasized "the interconnected customer experience" and rode a recovering U.S. housing market.

The company's fourth-quarter sales were a record $21.0 billion, up 9.5% from the same quarter last year. Net earnings for the three months were $1.5 billion, compared with $1.4 billion a year ago.

Comp-store sales for the fourth quarter were up 7.1%, and up 8.9% for U.S. stores.

An incentive program is in the works in California that would make it easier for food retailers to prevent harmful refrigerant emissions. If approved, the Refrigerant Incentive Program will be the beginning of the end of supermarkets’ struggles with endless refrigerant phase outs, regulations, and government refrigerant dictates.

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Office Depot continues to hope its merger with Staples secures approval from U.S. regulators, but in the meantime the performance of its retail operations is looking much better should it remain an independent company.

Office Depot’s North American retail footprint did shrink to 1,564 locations at the end of the year after the company closed a total of 181 stores, including 56 in the fourth quarter. Thinning the herd a bit helped the overall profitability of Office Depot’s largest division during the period ended Dec. 26 even though sales declined.

Hudson's Bay Company says online sales were particularly strong in the fourth quarter and contributed to the company's same-store sales growth of 11% for the period.

The Canadian firm and parent company of the Saks Fifth Avenue banners said that for the fourth quarter ended Jan. 31:

• Same-store sales grew 11%;
• The Department Store Group (DSG) had a same store sales increase of 4%;
• Saks Fifth Avenue Off 5th same-store sales increased 2%;
• Saks Fifth Avenue same-store sales decreased 1.2%;

Macy’s says cold weather in January helped the retailer report a better than expected decrease in same store sales for the fourth quarter even as the company explores an expansion of its off-price and beauty formats.

For the period ended Jan. 30, same store sales fell 4.3%, slightly less than the 4.7% fall it had estimated. Total sales declined to $8.87 billion.

Dillard’s says sales were particularly weak in the Southern states as the department store retailer reported a 35.6% drop in fourth quarter profit.

For the period ended Jan. 30, Dillard's had revenue of $2.07 billion for the fourth quarter, down from $2.1 billion during the same period a year ago. Net income was $130.5 million, or $3.17 per share, for the prior year fourth quarter. Same-store sales declined 2%. Net sales for the fourth quarter were $2.074 billion.

Cold weather in January helped Macy’s report a decline in same-store sales for the fourth quarter that was less than analysts had expected. In other news, the chain announced plans to expand its off-price and specialty beauty formats.

For the period ended Jan. 30, Macy's net income fell 31% to $543 million, dragged down by store closings and other costs.

Adjusted profits were $2.09 per share, better than the $1.86 per share estimate from analysts, according to Zacks Investment Research,

Rudolph E. Milian, former senior staff VP of the International Council of Shopping Centers and a leading retail real estate development executive, has launched Woodcliff Realty Advisors LLC, a full-service management consultancy that brings together an elite group of retail and real estate professionals and experts to serve shopping center companies, retailers, commercial real estate organizations, communities and investors worldwide.