Corporate Governance

Burlington, Ontario -- Ikea Canada said that it has turned its focus to sustainability in Canada during a period of expansion in the country.

As the retailer opens three stores this year in Canada, it said it is committed to having this new wave of stores be 40% more efficient than the last store built in 2004.

Birmingham, Ala. -- Books-A-Million reported Wednesday that profit for the quarter ended Jan. 28 edged up to $7.6 million, from $6.7 million a year earlier.

Sales increased 10.7% to $166.9 million, from $150.8 million. Same-store sales declined 5.7%.

During the quarter, the retailer said it incurred costs of $1.6 million related to the closing of 21 underperforming locations and the opening of 41 new Bam! stores in October and November.

Houston -- Francesca's Holdings Corp. reported Tuesday that profit for the fourth quarter grew nearly 100% to $8.4 million, from $4.3 million in the year-ago period. Results handily beat Wall Street expectations.

Sales surged in the period almost 55% to $61.7 million, past Wall analysts’ estimated $57.6 million. Same-store sales increased 15%.

The retailer said it expects to open 76 new boutiques during fiscal year 2013.
 

PLANO, Texas — JCPenney understands that transformation doesn't happen over night and that finding the right people to implement its strategy takes careful planning. The company's latest personnel changes come in the areas of merchandising, brand partnerships, brand makeover and store experience.

PLEASANTON, Calif. — Safeway has given Steve Frisby, the added responsibility of the company's Seattle division after the exit of the current president, Greg Sparks. Frisby, who joined Safeway in 1972, currently serves as the president of its Portland, Ore., division.

WASHINGTON — Retail sales continue to rise for 2012 as the U.S. Census Bureau reported results of February sales on Tuesday.

U.S. retail and food services sales for February, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $407.8 billion, an increase of 1.1% from the previous month and 6.5% above the year-ago period. Retail trade sales were up 1.1% from last month and 6.3% above last year.

PHILADELPHIA — Urban Outfitters saw profit for the fourth quarter fall to $39.3 million, from $75.2 million a year earlier. Sales rose 9% to $730.6 million, missing Wall Street’s expected $740 million in revenue.

The operator of Anthropologie, Free People and Urban Outfitters stores said heavy discounting over the holidays took a big toll on margins; in fact, margins have declined for at least five quarters as the retailer has made major markdowns to clear out slow-moving merchandise.

DALLAS — Zale Corp. has named Jamie Singleton SVP and general manager of Piercing Pagoda, effective March 27. In this role, Singleton will have overall responsibility for the company’s kiosk business and will report to Theo Killion, CEO.

QUINCY, Mass. — A Northeastern supermarket chain has made a business magazine's list of the top 10 most innovative companies in the food industry.

PLEASANTON, Calif. — In effort to further its commitment to sustainability, Safeway's brand Softly bath and facial tissue and Ultra Thirsty paper towels are now certified by the Forest Stewardship Council and the Rainforest Alliance. 

Safeway's paper products earned the FSC seal by being produced from fiber sourced from suppliers who have been independently certified to follow the strictest standards in sustainable, ethical forestry management and production chain controls.