Corporate Governance

Hong Kong -- Asian-based apparel retailer Esprit reported Thursday a net profit of $71.6 million for the six months ended December, beating Wall Street estimates.

The retailer said it remains on track to close its directly managed stores in North America by end-March 2012 and will continue to look for a licensing partner.

Fort Worth, Texas -- RadioShack Corp. said Thursday that it has named William "Bill" Nebes III as senior VP, overseeing the company's operations in Mexico.

Nebes will report to Jim Gooch, president and CEO.

Nebes has served as VP of Mexico operations for RadioShack since February 2009, shortly after RadioShack acquired full ownership of the Mexico business in December 2008.

Atlanta -- Rent-to-own retailer Aaron’s said Wednesday it has appointed interim CEO Ronald W. Allen as its permanent president and CEO.

Allen served as chairman and CEO of Delta Air Lines from 1987 to 1997, and has been a member of the Aaron's board since 1997.

Columbus, Ohio -- Limited Brands reported Wednesday that fourth quarter profit dropped 21% to $359.4 million, from $452.3 million in the year-ago period.

The parent to Victoria’s Secret, Bath & Body Works and Henri Bendel was negatively impacted by a large restructuring charge for an asset write-down and closures of some of its La Senza lingerie stores. Last quarter’s profit decrease breaks a streak of four consecutive quarters of year-over-year profit increases.

Naperville, Ill. -- OfficeMax Inc. reported Thursday that net income for the quarter ended Dec. 31 dropped to $2.9 million, from $32.8 million a year earlier.

Sales edged up 3.9% to $1.8 billion in the quarter, but dipped 0.4% to $7.1 billion for the full year. Profit for the year was $32.8 million.

Minneapolis -- Target Corp. reported Thursday that profit for the quarter ended Jan. 28 slid 5.2% to $981 million, from $1.04 billion in the prior year.

Revenue increased 3.3% to $20.94 billion, missing Wall Street’s expected $21.23 billion in revenue. Same-store sales rose 2.2%.

Heavy discounting during the holiday season cut into fourth-quarter profits, but Target still is forecasting a full-year profit outlook that beats analysts’ expectations.

Menomonee Falls, Wis. -- Kohl’s Corp. reported Thursday that profit for the fourth quarter dropped 7.9% to $455 million, from $494 million a year earlier, as the retailer experienced unexpected revenue declines during the holiday selling period.

Kohl's reported that total sales dipped 0.3% to $6.02 billion in the period, and same-store sales dropped 2.1%. It was the chain’s first revenue decline in three years

Hoffman Estates, Ill. -- Sears Holdings Corp. reported Thursday a loss of $2.4 billion in the fourth quarter, compared with a profit of $374 million in the year-ago period. And in a move long anticipated by some analysts, the chain also announced plans to tap into its massive real estate holdings to help make up for its faltering retail performance.

Revenue slipped 4% to $12.5 billion from $13 billion. Same-store sales fell 4.1% during the quarter at Sears and 2.7% at Kmart.

By Dave Spargo, [email protected]

DALLAS — Zale has named Beth Pritchard to its Board effective March 9. This appointment will increase the total number of board seats to eight.