Strategy

Armonk, N.Y. -- IBM on Thursday announced the creation of the IBM Customer Experience Lab, dedicated to helping business leaders transform the way customers experience their products, services and brands through the use of mobile, social, cloud and advanced analytics technologies.

The IBM Customer Experience Lab will provide CEOs, CMOs, CFOs, heads of sales and other C-suite executives direct access to a virtual team of 100 researchers, supported by the expertise of thousands of IBM business consultants addressing the opportunities of the digital front office.

KEARNEY, Neb. — The Buckle announced that net income for the fiscal quarter was $61.4 million, or $1.29 per share ($1.28 per share on a diluted basis), compared with $56.1 million, or $1.19 per share ($1.18 per share on a diluted basis) for the fourth quarter of fiscal 2011. Net income for the fiscal year was $164.3 million, or $3.47 per share ($3.44 per share on a diluted basis), compared with $151.5 million, or $3.23 per share ($3.20 per share on a diluted basis) for the fiscal year ended January 28, 2012..

GARDEN CITY, N.Y. — Lifetime Brands, maker of houseware and kitchen products under such brand names as Kitchenaid, Farberware and Cuisineart, reported that consolidated net sales for the fourth quarter were $154.8 million, an increase of 12.5%, as compared with consolidated net sales of $137.6 million in the fourth quarter of 2011.

Net income was $15.2 million, or $1.19 per diluted share, in the 2012 period, as compared with $5.4 million, or 43 cents per diluted share, in the prior-year period.

Senior executives from Yahoo! and Ecolab are the newest members of the board of directors at Target.

The retailer late Wednesday announced the addition of Douglas M. Baker, Jr., chairman and CEO of Ecolab Inc., and Henrique De Castro, COO of Yahoo! Inc., to its board, effective immediately.

Baker, 54, is a 24-year veteran at St. Paul, Minn.-based Ecolab. Prior to being named president and CEO in July 2004, Baker held key roles in marketing, sales and general management in both the U.S. and Europe. He became chairman in May 2006.

Houston -- The Men's Wearhouse Inc. posted a larger-than-expected loss for its fiscal fourth quarter. The retailer also announced that it was exploring the possible sale of its weaker performing K&G unit.

The company lost $3.4 million for the quarter that ended Feb. 2, compared to a loss of $3.8 million in the year-ago period.

Revenue rose 8.2% to $608.4 million. Revenue from Men's Wearhouse stores, which made up 61% of the quarter’s sales, rose 9.1%.

New York -- Target is expanding its retail clinic presence in the Chicago area, according to the Chicago Tribune.
 
The retailer plans to open three in-store health clinics — two in the suburbs and one in the city — in the Chicago area, the report said. Construction is scheduled to start on May 28, and grand openings are planned for Aug. 18. The Target on Division Street, scheduled to open in October, will also have a clinic.

NEW YORK — Aeropostale reported that net sales for the fourth quarter decreased 1% to $797.7 million, from $808.4 million in the year ago period. Fourth quarter comparable sales, including the e-commerce channel, decreased 8% compared with a 7% decrease for the corresponding 14-week period of the prior year.  Fourth quarter comparable store sales, excluding the e-commerce channel, decreased 9%, compared to a decrease of 9% for the corresponding 14-week period of the prior year. 

Minneapolis -- Target Corp. has made two e-commerce acquisitions aimed at expanding its presence in the growing cooking and kitchenware market. The retailer said it has acquired CHEFS Catalog and assets of Cooking.com in two separate transactions.