Strategy

ST. LOUIS — Brown Shoe Company Inc. reported a net loss and declining net sales in first quarter 2013 as the company cited the impact of having exited some businesses in the past year.

The retailer experienced a net loss of $10.8 million, compared to net earnings of $1.7 million a year earlier. Net sales declined about 1% to $588.7 million from $598.2 million.

However, Brown Shoe said that taking $10.4 million in net sales from exited brands during the first quarter of last year into account, net sales actually slightly improved this year.

New York -- Consumer confidence climbed to the highest level in more than five years, according to The Conference Board. The group’s closely-watched sentiment index rose to 76.2 in May, the highest since February 2008, and up from a reading of 69.0 in April.

The expectations index jumped to 82.4 in May from 74.3 in April to mark the highest level in seven months. The present situation index rose to 66.7 from 61.0. The share of consumers expecting more jobs to open in the next six months increased to a five-month high.

Boca Raton, Fla. – Office Depot Inc. and OfficeMax Incorporated have selected The Boston Consulting Group (BCG) to provide integration support for the two companies’ pending merger. BCG will provide a dedicated onsite support team and work with management from both companies to establish a detailed integration plan and establish an overall vision and priorities for the merger.

WESTLAKE VILLAGE, Calif. — Dole Food Company’s board of directors has approved a proposal to update the company’s owned vessel fleet, with the acquisition of three new specialty built refrigerated container ships for its U.S. West Coast operations, costing approximately $165 million, for a phased delivery between 2015 and 2016.

CINCINNATI — Kroger has announced the retirement of Quintin Frey, president of Turkey Hill Dairy. Frey began his career with Kroger at Turkey Hill Dairy in 1980 as a management trainee. He served in a variety of leadership roles before being promoted to serve as president in 1991.

"Quintin has been a great ambassador for the Turkey Hill brand and an important part of the Kroger leadership team," said Kroger chairman and CEO David B. Dillon. "The Kroger family extends our thanks and best wishes to Quintin and his family."

New Albany, Ohio -- Abercrombie & Fitch shrunk its net loss during the first quarter of 2013 but still reported thin financial results. Net loss for the quarter was $7.2 million, compared to $21.3 million during the first quarter of 2012. The results missed analysts’ estimates.

Net sales dropped 9% from $921.2 million to $838.8 million. Same-store sales plummeted 17%. Direct-to-consumer sales fell 6%. U.S. same-store sales fell 14%; international comparable sales were down 16%.

British retailer Marks & Spencer takes a giant leap forward in its goal to becoming a multichannel leader with the opening of its new concept store in Amsterdam.