Corporate Governance

CHICAGO — Claire's Stores reported net sales of $493.4 million for the fiscal 2012 fourth quarter, an increase of $58.5 million, or 13.4% compared with the fiscal 2011 fourth quarter. 

During fiscal 2012 fourth quarter, the company entered two new countries, opening three stores in China and two stores in Italy.

Consolidated same-store sales increased 5.4% for the quarter, with North America same-store sales increasing 5.9%, and Europe same-store sales increasing 4.4%.  

ANAHEIM, Calif. — Pacific Sunwear of California announced that net sales from continuing operations for the fourth quarter of fiscal 2012 ended Feb. 2, were $228 million versus net sales from continuing operations of $218.7 million for the fourth quarter of fiscal 2011 ended Jan. 28, 2012.

Comparable-store sales for the fourth quarter of 2012 increased 1%.  

The company ended fiscal 2012 with 644 stores, compared with 733 as of the end of fiscal 2011. The company closed 78 stores in the fourth quarter of fiscal 2012.

WESTLAKE VILLAGE, Calif. — Music retailer, Guitar Center, has announced that Mike Pratt has been appointed CEO and a member of the company's board of directors effective April 1. Pratt succeeds Marty Hanaka, the company's Interim CEO, who will remain on the board and assist in the transition.

Off price retailer Ross Stores achieved record fourth quarter sales and earnings and expects to deliver more of the same in 2013 thanks to an unwavering commitment to offering great bargains.

Sales for the 14 week fourth quarter ended February 2, increased 15% to $2.76 billion when compared to the prior year’s 13 week fourth quarter. Same store sales advanced 5% on top of a prior year gain of 7%. Earnings per share for the period increased to $1.07 from 85 cents last year and net income grew to $236.6 million from $192 million.

BOCA RATON, Fla. — Office Depot was named to the 2012 list of America’s Top Corporations for Women’s Business Enterprises by Women’s Business Enterprise National Council (WBENC). This marks the eleventh year that Office Depot has been included on the selective list.

MINNEAPOLIS — Supervalu has completed the sale of its Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market stores and related Osco and Sav-on in-store pharmacies to AB Acquisition LLC, an affiliate of a Cerberus Capital Management-led investor consortium, in a stock deal valued at $3.3 billion, including $100 million in cash and $3.2 billion in debt assumption. 

CINCINNATI — Macy’s announced that it will expand its online order fulfillment center in Goodyear, Ariz., to accommodate continued sales growth as part of the company’s omnichannel strategy. The company is expected to invest more than $35 million in capital in the project.

WASHINGTON — The National Retail Federation has released the following statement from NRF President and CEO Matthew Shay in support of the Jobs Originated Through Launching Travel (JOLT) Act:

“With the average international tourist spending well over $4,000 shopping in our stores, staying at our hotels, and eating at our restaurants, efforts aimed at encouraging more foreign travel is a simple way to spur economic growth and job creation. This is especially true in the retail industry.

YORK, Pa. — The Bon-Ton Stores has elected Jeffrey Sherman to its board, effective immediately. Sherman will serve on the human resources and compensation committee.

NEW YORK — According to Capital Business Credit's quarterly Global Retail Manufacturers and Importers Survey, 50% of importers of retail goods are experiencing an increase in orders this spring as compared to last year, while 50% are experiencing a decrease or no change from the previous year. Of those surveyed who are having a stronger spring, the majority are experiencing growth between three and 10%.