Strategy

Charlotte, N.C. -- Cato Corp.'s fiscal fourth-quarter net income climbed 8% as revenue improved. The company earned $7.9 million, compared with $7.3 million a year earlier.

Sales for the quarter ended January 29, 2011 were $224.3 million, a 3% increase over sales of $217.7 in the year-ago period. Same-store sales increased 1%.

PLEASANTON, Calif. -- Ross Stores has emerged as one of those value retailers that has shined during the recent economic downturn. The company once again reported strong earnings and sales growth for the fourth quarter and fiscal year, showing that while the economy may be improving, value remains an important concern for consumers.

New York City -- Men’s Wearhouse will remodel more than 100 stores and open 20 to 30 new locations this year, Women’s Wear Daily reported.

This marks a big increase from last year, when 35 stores were remodeled, the report said.

New York City -- Global design consultancy Fitch today announced the opening of its first office in China. The new office will service Fitch’s existing clients such as Nokia and Dell, as well as new clients in the buoyant Chinese market.

Ian Bellhouse, managing director for SE Asia & Greater China, Fitch, will lead the new operations.

Pleasanton, Calif. -- Safeway has announced the appointment of T. Gary Rogers to the company's board of directors. The company's board of directors will expand from nine to 10 members with this new appointment.

"Gary's vast experience as a supplier to the grocery industry, his business acumen and experience as a director will be great assets to the board," said Safeway chairman, resident and CEO, Steve Burd. "We are pleased he is joining our board."

ANAHEIM, Calif. -- Pacific Sunwear of California announced that total sales for the fourth quarter of fiscal 2010 were $263 million, a decrease of 10% from total sales of $293 million for the fourth quarter of fiscal 2009. Total company same-store sales decreased 7% during the fourth quarter of fiscal 2010.

The company reported a net loss of $35 million, or 53 cents per share, for the fourth quarter of fiscal 2010 compared with a net loss of $36 million, or 56 cents per share, for the fourth quarter of fiscal 2009. 

Secaucus, N.J. -- The Children's Place Retail Stores said Wednesday it has appointed James Bruce Marshall as senior VP and managing director, International Business Development, effective March 24. He will report directly to Jane Elfers, president and CEO.

Marshall was previously senior VP and managing director international development and operations, for Claire's Stores, where he was responsible for joint venture and franchise operations across 23 countries.

Boca Raton, Fla. -- Office Depot announced Wednesday that it has joined the U.S. Environmental Protection Agency’s list of Energy Star Leaders for reducing its energy consumption by 27.5% across its building portfolio.

Energy Star Leaders is a group of organizations that have improved energy efficiency across all of the facilities in a portfolio.

According to Office Depot, it is the first non-supermarket retailer to be recognized for realizing a greater than 20% reduction.