Strategy

New York City -- Saks returned to profitability in its fiscal fourth quarter as the chain sold more items at full-price and used fewer promotions. The company reported net income of $25 million for the period ended Jan. 29, compared with a loss of $4.6 million a year earlier.

Revenue rose 7% to $866.3 million, topping Wall Street's estimate of $854.4 million. Same store sales were up 8.4%.

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WOONSOCKET, R.I. — As expected, CVS/pharmacy officially has introduced a new line of store-brand products called Just the Basics, which is comprised of household essentials. As previously reported, the retailer unveiled plans to launch the new line during its 2010 analyst day in October.

The new product line, exclusively available at CVS/pharmacy, is comprised of nearly 100 items, and there are plans to expand the line going forward.

NEW YORK — The Conference Board's Consumer Confidence Index reached 70.4 in February, a three-year high from February 2008, thanks to growing optimism about the short-term future.

Schaumburg, Ill. -- Oakbrook Terrace, Ill.-based Mid-America Asset Management said that Panda Express signed a lease for 2,400 sq. ft. of space at Scharrington Square in Schaumburg, Ill., a northwest suburb of Chicago.

Panda Express is slated to open this summer.

Renewing leases at the 187,812-sq.-ft. Scharrington Square are anchor Jewel/Osco for 64,925 sq. ft. of space, and Panera Bread for 4,500 sq. ft. of space, which has plans to add a drive-through service.

Tarrytown, N.Y. -- DLC Management Corp. said Tuesday that two of its Northeast Leasing team members have successfully achieved the Certified Leasing Specialist (CLS) designation from the International Council of Shopping Centers.

Evan Podob, VP -- director of Northeast leasing, and Christopher Ressa, senior leasing representative -- Northeast, received their certifications in January.
 

Fort Worth, Texas -- RadioShack Corp. on Tuesday said its fourth-quarter net income fell by 25%, which was toward the low end of the company's already reduced guidance.

The company reported net income of $57 million in the October to December period, down from $75.7 million a year ago.

Framingham, Mass. -- TJX Cos. reported a 15% drop in fourth-quarter earnings, dragged down by costs to close its A.J. Wright store division. The company also plans to repurchase $1.2 billion of its stock this fiscal year and raise its dividend.

The retailer earned $334.4 million in the three months ended Jan. 29, compared with $394.9 million in the same period last year.

Revenue rose 6.5% to $6.33 billion. Same-store sales were up 2% over the prior year’s strong 12% increase.