Strategy

Walmart overcame a meager 1% same stores sales increase at U.S. stores to deliver better than expected fourth quarter profits on Thursday.

The company said total sales increased 3.9% to $127.1 billion compared to $122.3 billion last year. Without the benefit of a favorable currency exchange situation, sales would have increased a lesser 3.7% to $126.8 billion. Full year sales increased by 5% to $466.1 billion compared to last year’s total of $443.8.

MENLO PARK, Calif. — As mobile commerce grows in popularity, the need for IT professionals is rising, according to a new survey about IT risk factors for 2013 published by global consulting firm Protiviti. The 2013 IT Priorities Survey (www.protiviti.com/ITsurvey), designed to help IT departments classify areas in need of attention in order to better execute the function's strategic mandate, found that IT executives are struggling to manage the wide variety of technology risk, regulatory compliance and performance challenges that now face them.

PLEASANTON, Calif. — Safeway Inc. reported net earnings from continuing operations of $1.06 per diluted share for the fourth quarter which ended Dec. 29, 2012. This includes a $0.12 per diluted share benefit from legal settlements. When you exclude this benefit, earnings per diluted share is 94 cents. This represents a 58% improvement in earnings per diluted share over last year when the settlements are included and a 40% improvement when the settlements are excluded. 

ATLANTA -- Newell Rubbermaid announced it will reaffirm its fiscal year 2013 outlook, as provided in its fourth quarter 2012 earnings press release dated Feb.1, 2013, during its presentation Thursday at the Consumer Analyst Group of New York (CAGNY) conference.

The company’s guidance and key assumptions for the full year 2013 are as follows:

• Core sales increase of 2% to 4%.

• Net sales are expected to grow 1% to 3%

ST. PETERSBURG, Fla. — HSNi Inc. reported that its fourth quarter net sales grew 7% over the prior year to $982.9 million. HSN's net sales increased 7% to $683.8 million, including 11% growth in digital sales. Cornerstone's net sales for the 13-week period in 2012 increased 6% to $299.1 million, including 14% growth in digital sales, compared to the 14-week period in 2011.

GAAP diluted EPS from continuing operations increased 27% to $1 compared with 79 cents in the prior year. 

MOORESVILLE, N.C. — Lowe’s announced that Lara Lee will join the company as SVP customer experience design, effective Feb 25. Lee will report to Robert J. (Bob) Gfeller, customer experience design executive.

Lee will be responsible for translating business strategies into integrated, multi-channel experiences that deliver value to home improvement consumers. Named a “Master of Innovation” by BusinessWeek in 2006, Lee has driven customer-centric business transformation for more than 20 years.

Whirlpool has appointed Diane Dietz, executive VP and chief marketing officer of Safeway, to its board of directors, effective immediately.

"Diane Dietz's history of leadership in the consumer products industry makes her an outstanding addition to our board," said Jeff Fettig, Whirlpool chairman and CEO. "We know her breadth of experience in driving sales and building successful brands will be invaluable to our board of directors and Whirlpool Corporation." 

One of the largest dividend increases in Walmart’s history helped shareholders look past, temporarily at least, yesterday’s release of sales results that show a disturbing trend at U.S. stores.

MENOMONEE FALLS, Wis. — Kohl's is continuing its partnership with TED, the nonprofit organization that provides a platform for innovative thinkers, with a donation of $1.5 million to continue its education-based opportunities for youth.

Brian Michon was named chief technology officer at Cartera Commerce, a Boston-based provider of card-based marketing solutions for merchants, banks and loyalty programs.

In his new role at Cartera, Michon, a former vp of engineering at Intuit, is expected to drive Cartera’s card-linked offer technology strategy and lead the company’s development, operations and solution delivery teams.