Strategy

Albany, N.Y. -- Trans World Entertainment said that net income for the fourth quarter rose to $12.4 million $11.4 million as it continued to cut costs by closing more of its f.y.e. (For Your Entertainment) stores.

Total sales for the quarter fell 22%, to $231.2 million. Same-store sales fell 6%.

For fiscal 2010, Trans World posted its fourth consecutive annual net loss. The net loss for the year was $31 million, compared with a net loss of $42.4 million in fiscal 2009.

DALLAS -- Zale Corp. announced that Jeannie Barsam has been named SVP merchandise planning and allocation, and Toyin Ogun has been named SVP human resources and customer service.

“Jeannie and Toyin add both critical experience and depth to our leadership team,” said Theo Killion, CEO. “These appointments exemplify the strategic investments we are making in organizational capability to drive our turnaround initiatives.”

The Walmart board approved a hefty 21% increase to what was already one of the retail industry’s richest dividend payouts, the company announced late Thursday. The increase approved by the board puts Walmart’s annual dividend at $1.46 a share for the current fiscal year compared with last year’s dividend of $1.21. The dividend will be paid in quarterly installment of 56.5 cents.

Westborough, Mass. -- BJ's Wholesale Club's fiscal fourth-quarter net income fell 81% on a one-time $41.1 million charge related to store closings, restructuring and asset impairment. But its adjusted earnings beat expectations.

The wholesale club operator earned $10.2 million for the quarter, compared with $54.5 million a year ago.

Net sales for the fourth quarter ended Jan. 29, increased by 7.4% to $2.90 billion, and comparable club sales increased by 3.8%, including a contribution from sales of gasoline of 2.1%.

DENVER -- Walmart announced that it has donated $100,000 to continue the Walmart Tribal College Scholarship Program. This program is providing 33 greatly needed scholarships for the spring 2011 semester, supporting one student at each of the nation's 33 tribal colleges and universities.

NEW YORK -- Barnes & Noble's legal matters related to its Nook e-reader may be resolved, as the company announced that it has settled a lawsuit brought against the company by Spring Design Inc. Spring Design initiated legal action against Barnes & Noble in November 2009, in the United States District Court for the Northern District of California, claiming that the bookseller illegally copied the screen design of the Spring Alex e-reader. 

Huntington Beach, Calif. -- BJ's Restaurants on Tuesday announced the opening of its newest restaurant in Tyler, Texas on Feb. 28.

The new, 8,000-sq.-ft. BJ's Restaurant & Brewhouse is the newest addition to the 650,000-sq.-ft. Broadway Square Mall.

According to Jerry Deitchle, chairman and CEO of BJ’s, the company is on track to open as many as 12 to 13 new restaurants during 2011 and currently has six new restaurants under construction for planned openings later this year.

San Jose, Calif. -- Fresh & Easy Neighborhood Market on Wednesday celebrated the opening of its first locations in Northern California, in San Jose, and Danville.

The openings are the first of more than a dozen Fresh & Easy stores set to open early this year in Northern California. The chain, which opened its first stores in 2007, currently has 166 locations.