Strategy

Hoffman Estates, Ill. -- Sears Holding Corp. reported a bigger-than-expected net loss of $279 million for the first quarter of fiscal 2013, compared to net income of $189 million in the first quarter of fiscal 2012. The retailer also said that it is considering selling its protection-agreement business in an ongoing effort to raise cash as it struggles to improve its profits.

FAIRFIELD, CALIF. — Jelly Belly Candy Company plans to implement front-of-package nutrition labeling on its most popular packaged products. The company will begin to roll out labeled packages on shelves this fall. 

The new front label will highlight information such as calories and fat content. By providing the information up front, Jelly Belly joins the National Confectioners Association and other manufacturers in support of adopting a method that helps consumers easily access information necessary to make decisions about their diets.

CHICAGO — The International Foodservice Manufacturers Association honored ConAgra VP of strategic projects William J. Caskey with the trade association’s newly established Distinguished Foodservice Executive Award.

Caskey received the award for his dedication to the foodservice industry and his service on the IFMA board of directors during the National Restaurant Association Show week in Chicago, Ill. 

Canton, Mass. -- Destination XL reported disappointing financial results for the first quarter. The company’s net income fell 56% from $2.3 million in first quarter 2012 to $1 million, while same store sales grew 0.8%. Total sales also declined 2%, from $95.5 million to $93.6 million. Destination XL cited a colder-than-normal spring and a 60% drop in catalog sales as a contributor to declining quarterly performance.

NEW YORK — Tiffany & Co.’s 175th anniversary and its Great Gatsby movie tie-in collection drove the jeweler’s better-than-expected financial results for the first quarter ended April 30, which included Valentine’s Day. 

The jeweler had worldwide net sales of $895 million, an increase of 9% from $819,170 for the same period last year. On a constant exchange rate basis that excludes the effect of translating foreign currency denominated sales into U.S. dollars, worldwide net sales increased 13% and comparable store sales rose 8%.

Bentonville, Ark. – Wal-Mart has launched an initiative to hire any honorably discharged US military veteran within the first 12 months after they have been on active duty. Through a program dubbed Veterans Welcome Home Commitment, Wal-Mart anticipates hiring more than 100,000 veterans by 2018.

New York -- Tiffany & Co.’s net income rose a better-than-expected 3% to $83.6 million in its first quarter, up from the prior year’s $81.5 million, boosted by sales improvement across all its regions, particularly Asia. Global same-store sales rose 8% during the quarter.

The earnings bump came on a 9% worldwide net sales increase to $895 million. In the Americas region, total sales rose 6% to $408 million. Same-store sales rose 3% with relatively stronger growth in the New York flagship store.