Corporate Governance

Framingham, Mass. -- TJX Cos. reported that its fiscal fourth-quarter profit rose 42% to $475.3 million, from $334.4 million a year earlier. The owner of Marshalls, HomeGoods and T.J. Maxx also announced plans to repurchase up to $1.3 billion of stock this fiscal year.

For the quarter, sales rose 6% to $6.7 billion. Same-store sales increased 7%.

"We enter a new fiscal year with considerable momentum in our business and are off to a very strong start in 2012," said CEO Carol Meyrowitz.

Fort Meyers, Fla. -- Chico's FAS reported that its fourth quarter earnings rose a better-then-expected 21%, helped by a strong performance of its White House | Black Market brand.

For the quarter, the chain posted a profit of $25.1 million, up from $20.7 million a year earlier.

Sales rose 20% to $569.2 million. Same-store sales increased 8.7%. By division, the Chico's/Soma Intimates brands' comparable sales increased 5.5% and White House | Black Market same-store sales increased 15.4%.

Dallas -- Zale Corp. posted a higher second quarter profit helped by a surge in holiday sales. Net profit rose to $28.8 million, from $27.2 million a year ago.

Overall revenue rose 6% to $663.8 million. Same-store sales rose 5.8%.
 

Chesapeake, Va. -- Dollar Tree Inc. reported a higher-than-expected profit for the fourth quarter ended on Jan. 28. But the chain forecast quarterly earnings and sales below Wall Street estimates amid rising gasoline prices and increased competition from larger rivals.

For the quarter, net income rose to $187.9 million, from $162.5 million a year earlier.

Sales rose about 12.8% to $1.95 billion. Same-store sales were up 7.3%.

CINCINNATI — Macy's continues to see improved financial performance, reporting fourth-quarter sales and earnings today that exceeded management’s expectations.

The company reported fourth-quarter earnings per diluted share of $1.74, compared with diluted earnings per share of $1.59 for the fourth quarter of 2010. Sales for the quarter increased 5.5% to $8.7 billion from $8.3 billion last year. Same-store sales for the quarter increased 5.2%.

CITY OF INDUSTRY, Calif. — Newegg Inc., the electronics-focused e-retailer, has promoted Bob Bellack, the current president and CFO of Newegg North America, to CEO of Newegg North America. Dr. S.C. Lee has assumed the role of vice chairman of Newegg North America.

BENTONVILLE, Ark. — Wal-Mart Stores' investment in China continues to grow as the company now has a controlling stake in one of the country's fast-growing e-commerce websites. The company announced that it has reached an agreement to increase its investment in the holding company of Yihaodian, bringing its total ownership stake to approximately 51%. Closing of the transaction is subject to Chinese government regulatory approval.

FORT WORTH, Texas — RadioShack reported a fourth-quarter sales increase, thanks to the rollout of Target Mobile centers, but profits were down.

Total net sales and operating revenues from continuing operations for the 2011 fourth quarter increased 5.9% to $1.39 billion, compared with $1.31 billion for the 2010 fourth quarter. Net income for the 2011 fourth quarter was $11.9 million, or 12 cents per diluted share, compared with net income of $57 million, or 51 cents per diluted share, for the fourth quarter ended Dec. 31, 2010.

BENTONVILLE, Ark. — Walmart’s U.S. stores division regained customer traffic during the fourth quarter to post a 1.5% same-store sales increase and continues gather momentum as familiar strategies and effective marketing are resonating with customers, the company said Tuesday morning in conjunction with the release of quarterly results.

ATLANTA — Boosted by mild temperatures and spring-like selling conditions throughout much of the country, Home Depot saw sales rise nearly 6% in the fourth quarter.

The home improvement giant reported fourth-quarter sales of $16.0 billion, up 5.9% from the same quarter last year. Comparable store sales were positive 5.7%, and up 6.1% in the United States.

"We had a strong finish to 2011, and with favorable weather, our business delivered results that exceeded our expectations," said CEO Frank Blake.