Strategy

NEW YORK — Belgian supermarket operator Delhaize Group said that its fourth quarter net profit dropped 48%, hurt by impairments resulting from its restructuring. It also announced that Mats Jansson will be the new chairman of the board, and that Pierre Bouchut will succeed Stefan Descheemaeker as CFO, effective March 19.

The company, whose U.S. holdings include the Food Lion, Hannaford Bros. and Sweetbay banners, said it will accelerate the revamp of its stores in the United States and Belgium to increase its competitiveness.

Johannesburg, South Africa -- A South African regulatory body gave Wal-Mart permission on Friday to move ahead with its $2.2 billion purchase of South African chain Massmart.

The Competition Appeal Court upheld a ruling last year by the Competition Tribunal, but did require a study to determine a path to protect small producers who might not be able to compete with foreign producers from whom Wal-Mart can import cheaper goods.

Although Walmart International has completed three acquisitions during the past 12 months, it is actually the least preferred method of growth, according to international division CFO Cathy Smith. Just imagine if acquisitions were the top priority.

Smith’s comments about acquisitions came earlier this week at a Raymond James and Associates investor conference where she appeared with treasurer Jeff Davis and detailed four dimensions of Walmart’s international growth strategy.

Houston -- The Men's Wearhouse reported a net loss of $3.8 million for the quarter that ended Jan. 28, compared with a net loss of $14.1 million a year earlier, as it cut costs and increased prices.

The results beat forecasts, and the company said it expects 2012 income to be higher than expectations.

Revenue was $562.2 million, up from $542.1 million.

Fortune is out with its list of the “50 Most Admired Companies,” and Walmart landed at number 24, which is only a big deal if you buy into the notion espoused by those who compiled the list that it is the definitive report card on corporate reputations.

It is not, at least as far as retailers are concerned for the simple reason the methodology doesn’t take into account the views of shoppers whose perceptions of retail companies matter far more than the folks Fortune surveyed to arrive at their most admired ranking.

New York -- TradeCard, a supply chain collaboration and global trade platform, announced that women’s apparel retailer MS Mode has successfully deployed TradeCard to eliminate costs and improve efficiencies in its global supply chain.

The TradeCard solution allows MS Mode to transition away from agents and handle sourcing in-house without increasing overhead.

SAN FRANCISCO — Williams-Sonoma ended fiscal 2011 with revenue and earnings growth in its fourth quarter. The company reported that net revenues for the fourth quarter of 2011 increased 6.1% to $1.3 billion versus $1.2 billion in the fourth quarter of 2010. The company reported diluted earnings per share on a GAAP basis of $1.17 compared with $1.05 for the same period last year.

Jacksonville, Fla. -- Stein Mart Inc. reported Thursday that its net income fell to $5.7 million for the fiscal fourth quarter, down from $18.8 million last year. The chain said it was returning to its strategy of emphasizing everyday low prices after heavy coupon promotions took a toll on the retailer's financial performance during the past year.

Revenue for the quarter ended Jan. 28 was down nearly 3% to $328.1 million, from $336.7 million. Same-store sales were down 2.2%.