Strategy

Jacksonville, Fla. – Stein Mart Inc. reported drops in net income and sales during the fourth quarter of fiscal 2013, which it mainly attributed to the year-ago period having one extra week. The retailer remains optimistic as it plans to open 10 new stores and six relocated stores in fiscal 2014.

Fourth quarter net income dropped 42% to $7.4 million from $13.1 million compared to the same period in the prior year, while total sale declined 2% to $360.8 million from $368.6 million. In one bright note, same-store sales grew 3.1%.

Minneapolis – Target Corp. reportedly had early notice of the holiday data breach that exposed the personal and financial information of millions of customers but did not act upon it. According to Bloomberg, a $1.6 million security application called FireEye notified Target of a possible intrusion in to its network, but the retailer failed to respond.

Columbus, Ohio – DSW Inc. opens a new store in Davenport, Iowa on March 20. As of March 20, DSW will operate 398 stores in 42 states, the District of Columbia and Puerto Rico.

DSW Rewards is a free loyalty program in which customers earn certificates toward future DSW purchases and receive special member-only offers. Customers can also participate in a Shoe Lover community on Facebook to receive exclusive offers and giveaways.

Tractor Supply Company has named former Ulta Beauty executive Robert D. Mills as SVP and chief information officer, succeeding James Callison. Mills will also serve on the company’s executive committee.

Callison, who informed the company last year about his plans to retire, will remain on-board for an undisclosed amount of time while the transition is completed.

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In 1984, at the impressionable age of 17, Doug McMillon’s journey with Walmart began in a way that hardly foretold he would one day become CEO. On the way to a Walmart warehouse for his first day of unloading trucks, McMillon rear-ended his supervisor’s car with his father’s Honda Civic, he recalled in the February issue of Walmart World.

Although McMillon’s early exposure to Walmart came inside a sweltering distribution center, he said the camaraderie, enthusiasm and passion he witnessed let him know something special was going on.

New York -- Amazon is increasing the annual membership of its Amazon Prime service from $79 a year to $99. The online giant, which made the announcement on its homepage, had suggested last year that increased shipping costs would force it to raise the annual price of its premium membership.

The price hike takes effective in seven says. Until then, customers can still sign up for the $79 rate. The increased fee will be charged when users renew their Prime memberships.

Despite continued adverse weather conditions throughout February and into March, Kirkland's president and CEO Robert Alderson said that early first-quarter sales and margin trends have been positive and encouraging.