Strategy

Washington, D.C. -- A report released Thursday showed that consumer confidence fell last week to the lowest level in a month, negatively impacted by rising fuel prices.

The Bloomberg Consumer Comfort Index dropped to minus 44.5 in the week ended March 6, from the prior week’s minus 39.7, which was close to the highest in almost three years. Surging gas prices have left Americans concerned about personal finances.

Jacksonville, Fla. -- Stein Mart reported Thursday that fourth quarter profit surged to $18.8 million from $2.7 million in the year-ago period. Results included an income tax benefit in fourth quarter 2010.

Revenue for the quarter ended Jan. 29 decreased 1.5% to $336.7 million, compared with $341.8 a year earlier. Same-store sales dipped 1.2%.

Houston -- The Men's Wearhouse reported Wednesday a loss of $14.1 million for the quarter ended Jan. 29, narrowed from a loss of $18.8 million in the year-ago period.

The retailer, which sells suits and rents tuxedos, offered a 2011 forecast of adjusted profit that would beat Wall Street projections.

Revenue increased 18.6% to $542.1 million. Same-store sales rose 4.3% on strong tuxedo-rental revenue.

Washington, D.C. -- A report released Thursday by the U.S. Labor Department showed that jobless claims in the United States rose by 26,000 for the week ended March 5, to 397,000.

Economists expected claims would climb to 376,000, according to a Bloomberg News survey. The total number of people receiving benefits in the prior week fell to the lowest since October 2008.

Washington, D.C. -- A Wednesday report by Bloomberg said that Wal-Mart Watch, a union-funded group that advocates for Wal-Mart Stores workers, said Justice Antonin Scalia should disqualify himself when the U.S. Supreme Court considers the company’s bid to derail a gender-bias suit on behalf of potentially one million employees.

London -- Wm. Morrison Supermarkets PLC said Thursday that it has acquired a 10% stake in U.S. online grocer FreshDirect, based in New York City.

According to Morrison, the U.K. fourth-largest supermarket chain, the acquisition marks its debut in the online food market.

Morrison has also announced plans to test a c-store format and to expand its grocery store counts in order to increase its presence in the U.K grocery market.

PITTSBURGH – Shortly after reporting a 16% increase in continuing operations for its fourth quarter ended Jan. 29, American Eagle Outfitters, announced that its CEO, James O’Donnell, has informed the board of directors of his intention to retire, and the company has initiated a succession process to be jointly led by O’Donnell and the board. American Eagle said O’Donnell will continue with the company as CEO until a successor is named and through an orderly transition period.

MENOMONEE FALLS, Wis. -- Kohl’s Department Stores announced the grand opening of nine new stores across seven states, which the company said will create more than 1,200 jobs.

The new stores were opened Illinois, New York, South Dakota, Texas, Virginia, Washington and Wisconsin. In addition, Kohl's plans to open a total of approximately 40 new stores in 2011. The company said it also plans to remodel approximately 100 stores in 2011, an 18% increase from 2010.

PLEASANTON, Calif. — Safeway on Tuesday said that it expects to earn $1.60 to $1.80 per diluted share during the quarter, after the company's board approved a $1.1 billion dividend from Canada to the United States.

 The dividend, Safeway said during its 2011 investor conference, will be used to pay off $600 million of U.S. debt, and the company will use the remainder of the dividend for share repurchases.

EL SEGUNDO, Calif. -- Fresh & Easy Neighborhood Market has announced the availability of 27 new exclusive California wines. The new wines, which the company said are sourced from some of the finest vineyards in California's premium wine growing regions, are broken into seven new lines and retail from $3.99 to $19.99.