Corporate Governance

Cincinnati -- Kroger Co. on Thursday raised its full-year forecast and also projected earnings growth for its next fiscal year that was ahead of long-term goals even as its profit slipped 2% in the third quarter.

The chain reported profit of $195.9 million profit for the quarter ended Nov. 5, down from $202.2 million a year earlier. Still, its results topped Wall Street expectations.

Los Angeles -- Guess Inc. said Wednesday that profit for the quarter ended Oct. 29 fell 4% as the clothing company's tax rate increased. The chain reported net income of $66.3 million, compared with $69.1 million in the year-ago period. The company's effective tax rate rose to 32.3% during the quarter from 29.1% a year earlier. As a result, the incomes taxes Guess paid rose 5% to $31.9 million.

Warrendale, Pa. -- Rue21 Inc. reported Wednesday that its third-quarter profit surged 22% to $8.7 million, from $7.1 million a year earlier, as the apparel retailer opened dozens of new stores during the period.

Revenue climbed 19% to $194.8 million, but missed Wall Street’s expected $197.3 million in revenue. The company opened 30 stores during the quarter and expanded eight into its "Rue21 etc!" format.
 

Everett, Wash. -- Zumiez Inc. reported Thursday that net income for the quarter ended Oct. 29 rose 14.8% to $14.1 million, from $12.3 million in the prior fiscal year.

Revenue climbed 13.3% to $154 million from $135.9 million, and same-store sales grew 6%.

“We are pleased with the current pace of growth for our business and believe our product assortment has us well positioned for the remainder of the holiday selling period," said Rick Brooks, CEO.

Chelmsford, Mass. -- A report released Thursday by Kronos Inc. found that hiring in the retail sector continues to make marked improvements. The Kronos Retail Labor Index, which analyzes the current state of the demand and supply sides of the labor market within the U.S. retail sector, rose to 4.2% in November 2011, from a downwardly revised 3.5% in October. This was the highest reading since October 2008 and the second reading of 4% or higher in the last three months.

New York City -- Cross-channel merchandise planning and assortment solution provider 7thonline said Thursday that sports brand Oakley has selected 7thonline Merchandise and Assortment Management to increase the productivity of its inventory and merchandising process.

The solution includes merchandise financial planning, visual and analytical assortment planning, in-season OTB management and forecasting, and embedded business intelligence, based on powerful optimization engines.

Hingham, Mass. -- Talbots Inc. reported Thursday a loss of $22 million for the third quarter, compared with a profit of $17 million in the year-ago period. It was the apparel retailer’s third loss in four quarters. Talbots has posted an annual loss in three of the last four years.

Bensalem, Pa. -- Charming Shoppes reported Thursday that its loss in the 3Q narrowed to $13 million from a loss of $18.8 million a year earlier. Revenue in the quarter dropped to $429.7 million, from $463.6 million last year, and same-store sales decreased 4%.

The retailer said it is conducting a strategic review of its operations, which includes the divestiture of its Fashion Bug business and the expansion of its Lane Bryant brand.

Columbus, Ohio -- Express Inc. reported Thursday that profit for the quarter ended Oct. 29 climbed 24% to $32.7 million, from $26.3 million in the year-ago period.

Revenue increased 8% to $486.8 million, just missing Wall Street’s expected $488.2 million, and same-store sales increase 5%.

Online sales surged 41%.
 

Bentonville, Ark. -- Wal-Mart Stores Inc. said Wednesday it has debuted a social networking application, calling it Shopycat.

The app uses Facebook data to recommend gifts to consumers, on the company's Facebook page. It is one of the first products to roll out of @Walmartlabs, a unit of the company charged with developing social-networking and mobile technologies for the retailer.