Strategy

GRAPEVINE, Texas — GameStop reported that total global sales for the fourth quarter of 2012 were $3.56 billion compared with $3.58 billion in the prior year quarter. Consolidated comparable-store sales decreased 4.6% compared with the prior year quarter. 

Grapevine, Texas -- GameStop Corp reported a nearly 50% increase rise in fourth-quarter profit fueled by gains in its mobile and digital businesses. Profit rose to $261.1 million from $174.7 million.

Revenue for the quarter ended Feb. 2, 2013, totaled $3.56 billion compared to $3.58 billion last year. Same-store sales were down 4.6%.

Memphis -- Fred's Inc. said Thursday that its fourth-quarter net income decreased 33% amid higher operating costs and restrained consumer spending. The discounter’s forecast for this year also fell below analyst expectations.

Net income for the three months ended Feb. 2 fell to $6.6 million, compared to $9.8 million the year before.

Revenue increased 7%, to $533.4 million, also below analysts’ expectations. Same-store sales were up 4.8%.    

MEMPHIS, Tenn. — Fred's total sales for the 53-week fiscal 2012 increased 4% to $2 billion from $1.9 billion for the same period last year. Comparable store sales increased 1.1%. Excluding the effect of the extra week in the current year, fiscal 2012 comparable store sales for the year decreased 1.4% from the year-earlier period. 

Sunbury, Pa. -- Weis Markets has promoted Paul Stombaugh to VP/corporate controller.

Stombaugh will take on an expanded role in the company’s decision support and its strategic development. He also will continue to oversee its financial accounting and reporting functions, internal controls, treasury and budgets, Weis reported. He will continue to report to Scott Frost, SVP and CFO.

Prior to joining the company in 2010, Stombaugh worked in several progressive management roles at Foot Locker’s financial center.

ATLANTA — Newell Rubbermaid announced plans to open a new design center by early 2014 in Kalamazoo, Mich. This will enable Newell Rubbermaid to add depth in new design specialties, join a strong local presence of design-led companies including Herman Miller , Steelcase, Whirlpool, Stryker and Wolverine, as well as participate in a growing educational community that includes Western Michigan University.

Indianapolis -- The Finish Line said its fourth-quarter profit dropped 18% as gross margins fell and overall sales declined more than analysts expected. The chain’s adjusted earnings and same-store sales growth, however, were in-line with its expectations.

For the fourth quarter ended March 2, Finish Line reported net income of $34.3 million, down from $41.9 million a year earlier.

WAYNE, N.J. — Babies"R"Us has partnered with WhatToExpect.com to provide expectant moms access to their combined content and retail resources. As part of this collaboration, the Babies"R"Us Registry is now available on WhatToExpect.com. Additionally, the retailer plans to feature content from WhatToExpect.com through various Babies"R"Us channels.