Strategy

MENOMONEE FALLS, Wis. — Kohl’s Corporation reported fourth quarter diluted earnings per share of $1.66 compared with $1.81 for the fourth quarter of 2011. Net income for the fourth quarter was $378 million compared with $455 million a year ago. For the year, net income was $1 billion ($4.17 per diluted share) compared with $1.2 billion ($4.30 per diluted share) for fiscal 2011.

Total sales for the quarter were $6.3 billion, an increase of 5.4% over sales of $6 billion for the same period last year. Same-store sales for the quarter were up 1.9%.

NEW YORK — Luxury fashion house J. Mendel has announced that Susan Sokol will step down as president and COO of the company, and will transition her duties over the coming weeks.

Sokol joined J. Mendel as president and COO in 2008. During her almost five year tenure at the company, Sokol was integral to the expansion of J. Mendel's ready-to-wear, which now accounts for 60% of its wholesale business, and to entering the brand into new international markets.

Specialty apparel retailer Chico’s reported strong fourth quarter results and announced plans to debut a new format and enter Canada in 2013.

The company said sales for the 14 week fourth quarter ended February 2, increased 14.5% to $652 million thanks to the inclusion of an extra week in the reporting period, a 3.7% same store sales increase and a net increase of 101 new stores that expanded selling space by 8.1%. The 3.7% comp increase is noteworthy because it came on top of an 8.7% comp increase during the fourth quarter the prior year.

Walmart said Tom Mars, EVP and chief administrative officer, will leave the company effective March 13.

Mars spent 11 years with the company and served as general counsel from 2002 to 2009 when he was promoted to his current role. In his current capacity, Mars was responsible for real estate, financial services for U.S. stores and company’s shows and events team and labor relations.

Amazon lead the pack in the retail field on Fortune’s “Most Admired Companies” list. The e-commerce juggernaut was third ranked overall (behind Apple and Google) for, among other reasons, its efficient customer service and leadership under CEO Jeff Bezos.

Nordstrom captured the number 16 spot for generating buzz for its first full-line retail store in Manhattan, well before its planned open date in 2018 and for its successful clearance brand, Nordstrom Rack.

MINNEAPOLIS — Target is planning a rollout in Canada that will be bigger than any single year's worth of its store openings in the United States ever, executives of the company said Wednesday morning in a call with Wall Street analysts to discuss the mass merchandise retailer's fourth-quarter and full-year 2012 results.

NEW YORK — Reuben Hendell, chief strategy officer of GSI Commerce  and chief executive officer of its global agency services business, will be the keynote speaker at ACG New York’s Third Annual Digital Media & Technology M&A Conference in New York on Thursday, March 21, 2013, ACG New York announced.

The conference will focus on current M&A trends, deal structures, valuation strategies, hot-company and hot-technology identification, and traditional media survival strategies.

SAN FRANCISCO — Gap Inc. reported that net sales for the fourth quarter were $4.73 billion, compared with $4.28 billion for the same period last year. Same-store sales were up 5% for the quarter, compared with a 4% decrease during the same period last year.

Net income for the quarter was $351 million, or 73 cents per share on a diluted basis. This compares with net income of $218 million, or 44 cents per share on a diluted basis, for the same period last year.

A Walmart Neighborhood Market store in Springfield, Mo., was ground zero Thursday as the retailer showcased efforts to make food healthier and more affordable to First Lady Michelle Obama.

Three years ago, the First Lady created the Let’s Move healthy food initiative and the following year Walmart unveiled five broad commitments that aligned with her vision for ending childhood obesity within a generation.

San Francisco -- Gap Inc. offered further proof that its turnaround has taken hold, reporting a 61% increase in fourth quarter profit amid strong same-store sales growth across its banners. The results end a strong year for the chain, which also said it was increasing its dividend by 20%.