Strategy

DAYTON, Ohio — While Walmart maintained the No. 1 position on Interbrand's U.S. Most Valuable Retail Brands list for 2012, several other retailers are moving up the ranks.

Although Walmart touts a value that's more than $139 billion, this year also marked a 2% decrease for the big box retailer, Interbrand said. Second on this year's list was Target, which holds a value of $23 billion, a 1% increase over last year.

New York City -- Saks Inc. fourth-quarter net income climbed 48% amid strong sales of handbags, fine jewelry and men's and women's apparel. The earnings topped expectations.

For the period ended Jan. 28, Saks earned $37 million, compared with $25 million last year. Quarterly revenue rose 7% to $925.1 million from $866.3 million, beating Wall Street's $918.9 million estimate.

Same-store sales were up 7.7%.

BENTONVILLE, Ark. — Walmart’s U.S. stores division regained customer traffic during the fourth quarter to post a 1.5% same-store sales increase and continues gather momentum as familiar strategies and effective marketing are resonating with customers, the company said Tuesday morning in conjunction with the release of quarterly results.

New York City -- Belk plans to remodel almost 30 stores this year as the department store company focuses on upgrading its existing space, the Charlotteobserver.com reported.

Last year, Belk spent about $70 million on store remodels and renovations. In 2012, the chain plans to increase that slightly, to $75 million, and then spend up to $130 million a year in 2013 and 2014, according to the report.

CINCINNATI — Macy's continues to see improved financial performance, reporting fourth-quarter sales and earnings today that exceeded management’s expectations.

The company reported fourth-quarter earnings per diluted share of $1.74, compared with diluted earnings per share of $1.59 for the fourth quarter of 2010. Sales for the quarter increased 5.5% to $8.7 billion from $8.3 billion last year. Same-store sales for the quarter increased 5.2%.

Minneapolis -- Christopher & Banks Corp. said CEO Larry Barenbaum resigned from all his positions in the company, effective Friday.

The struggling retailer, which posted a $22.2 million loss in fiscal 2011, named president Joel Waller as interim CEO. It said it has formed a committee to search for a permanent CEO.
 

Cincinnati -- Macy’s net income in the three months ended Jan. 28 rose a better-than-expected 12% to $745 million as the chain, buoyed by strong holiday and online sales. The company has now seen net income rise in three straight quarters.

SEATTLE — REI (Recreational Equipment Inc.), a national outdoor gear and clothing retailer, has announced that Angela Owen has been named SVP marketing and Lee Fromson has become SVP merchandising. 

"With more than 50 combined years with the outdoor industry, Angela and Lee have a wealth of experience in driving innovation and leading essential company business units," said Brian Unmacht, REI's EVP. "They have well-deserved reputations for developing high performing teams and are highly regarded for their strategic leadership."