Strategy

DALLAS — Kimberly-Clark has announced that Clive Sirkin has been named vice president and chief marketing officer, reporting to Tony Palmer, president of global brands and innovation.

Sirkin joined K-C in 2007 and has held a number of marketing leadership positions.

"Since joining K-C, Clive has been instrumental in building strong, healthy brands and businesses around the world," Palmer said. "As CMO, Clive will continue the ongoing transformation of our marketing function as a core driver of our growth agenda."

Chicago -- Despite all the headlines about Canadian and global growth, U.S. expansion remains a key growth strategy for retailers, according to a survey of 100 retail chief financial officers by BDO USA.  
   
In the seventh-annual BDO Retail Compass Survey of CFOs, 30% of the executives said U.S. expansion will be their priority growth tactic in 2013, followed by improving merchandise assortment (24%) and e-commerce and mobile commerce (22%).
   

Former Coach CFO Michael Devine has joined the board of rapidly growing discount retailer Five Below.

Devine served as CFO at Coach from 2001 to 2011. He will replace Five Below board member Howard Ross who resigned and serve as chair of the retailer’s audit committee.

Devine currently serves on the boards of Express, Deckers, Talbot's, and Sur La Table, and previously served on the board of NutriSystems.

YORK, Pa. — The Bon-Ton Stores reported that its net income for the fourth quarter was a better-than-expected $74.4 million, compared with $78.2 million in the year-ago period.

Revenue for the three months ended Feb. 2 increased 3.2% to $1.02 billion, missing the Street’s view of $1.04 billion. Same-store sales increased 1%. (Results for the fourth quarter and fiscal 2012 are impacted by the inclusion of an additional week in each period, resulting in a 14-week and 53-week reporting period.)

PHILADELPHIA — Net income rose to $83 million at Urban Outfitters for its fourth quarter from $39.26 million in the year-ago period, on strong same-store sales and higher revenue.

Total company net sales for the quarter increased 17% to $857 million. Comparable retail segment net sales, which include comparable direct-to-consumer channel, increased 11% for the quarter, while comparable-store net sales were flat.

Costco Wholesale Corp.’s winning streak continues as the chain reported a better-than-expected 39% increase in profits for its fiscal second quarter. Here is Planet Retail’s take on the company’s most recent performance and future prospects:
 

Second quarter sales increased 8% to $24.3 billion and profits, aided by a sizable tax benefit, increased 39% to $547 million, or $1.24 a share.

The surge is profits for the 12 week quarterly period ended February 17 was driven by a $62 million, or 14 cent a share, tax benefit that resulted from the portion of a special dividend payment made in December to participants in the company’s 401(K) program. Costco authorized a one time special dividend of $7 a share last year to return cash to shareholders in advance of a 2013 tax hike on dividend income.

New York -- Another day, another J.C. Penney story. Amid rumors that Penney chief executive Ron Johnson was stepping down, the chain flatly denied the allegations.

“Ron Johnson is not quitting or resigning from J.C. Penney and he has no plans to do so,” Joey Thomas, a Penney spokesman said in an e-mail reported by Bloomberg. “The rumors are false.”