Trading Partners

It’s no wonder Macy’s is looking to allocate part of its $1 billion capital expenditure budget into opening off-price stores when you look at the financial results TJX Co. reported for the fourth quarter.

The company reported an 11% increase in profit for the quarter ended Jan. 31. Net sales for the fourth quarter were $8.3 billion, a 6% increase over last year. Same store sales increased 4% over last year’s 3% increase. Net income was $648 million and diluted earnings per share were $.93, a 15% increase over last year’s $.81 per share.

Staples Inc. is tapping into a new revenue stream by launching a lending program aimed at small businesses.

Staples has launched the Staples Business Loans powered by Lendio service to provide access to capital for small business owners. Staples has teamed up with Lendio, a financial technology firm and small business-lending marketplace, to deliver a suite of funding options.

Staples Business Loans offers more than 20 different funding options and the flexibility for businesses to use the money for whatever their business needs.

Jackson, Miss. – Fast-casual restaurant chain Newk's Eatery is expanding to Columbia, South Carolina, as part of growth plans that include nearly 30 new corporate and franchised stores in 2015. The Columbia expansion is in partnership with its newest franchisees, Chris and Pam Corn.

The Corns will open their first Newk's in City Market in the Vista in late 2015 and have plans to open two additional locations in Columbia and the surrounding area.

San Francisco – A labor dispute that had reduced the 29 West Coast ports, which handle close to half the consumer cargo in the U.S. down to 50%-60% capacity appears to be over. Late in the evening of Friday, Feb. 20, the Pacific Maritime Association (PMA) and the International Longshore and Warehouse Union (ILWU) reached a tentative agreement on a new five-year contract covering workers at all 29 West Coast ports.
 

Montreal - Dollarama Inc. has named Elisa D. Garcia, executive VP and chief legal officer of Office Depot Inc., as an independent director and member of the Nominating and Governance Committee. Garcia’s appointment expands the corporation’s board of directors to 10 directors, seven of whom are independent.

The National Retail Federation has called for President Obama to become involved in the ongoing contract negotiations between the International Longshore and Warehouse Union (ILWU) and Pacific Maritime Association (PMA) if a deal is not reached.

“It has been nearly a week since President Obama dispatched Labor Secretary Perez to the West Coast to help settle the protracted contract dispute between the ILWU and PMA,” Jonathan Gold, VP for supply chain and customs policy, NRF, said in a statement.

Washington, D.C. -- The National Retail Federation called for President Obama to become involved in the ongoing contract negotiations between the International Longshore and Warehouse Union (ILWU) and Pacific Maritime Association (PMA) if a deal is not reached.

“It has been nearly a week since President Obama dispatched Labor Secretary Perez to the West Coast to help settle the protracted contract dispute between the ILWU and PMA,” Jonathan Gold, VP for supply chain and customs policy, NRF, wrote in a statement issued Friday.

Walmart CEO Doug McMillon talks about changes at Walmart.