Winter Holidays

San Francisco -- Gap Inc. on Thursday reported a 12.5% decline in fourth-quarter profit, with its results impacted by heavy discounting during the holidays. The retailer also issued a profit outlook for the full year that is below analysts' expectations, and said it will open 30 additional U.S. stores during fiscal year 2014.

Gap reported net income of $307 million for the three-month period ended Feb. 1, better than the Street expected, down from $351 million in the year-ago period.

Kohl’s reported a profit of $334 million, or $1.56 per share, for the fourth quarter ended Feb. 1, down from $378 million, or $1.66 a share, a year earlier. The retailer attributed the dip to an increase in e-commerce shipping costs and holiday season markdowns.

But the retailer expressed confidence in its inventory levels and assortment, adding that it is well-positioned for spring and anticipates sales increases.

Menomonee Falls, Wis. – Kohl’s Corp.’s reported disappointing fourth-quarter results amid markdowns during the holiday period and increased shipping costs for its e-commerce business.

The chain posted a profit of $334 million for the quarter ended Feb. 1, down from $378 million a year earlier. Total sales dropped 3.8% to about $6.1 billion from $6.34 billion. Same-store sales were down 2%. Kohl’s cited the impact of the 53rd week in fiscal 2012 as a driver of its declines.

Procter & Gamble, in support of the National Sleep Foundation's Sleep Awareness Week 2014, announced the launch of its newest fabric care line, the Sweet Dreams Collection.

Severe winter weather was no match for Lowe’s in the fourth quarter. The company reported sales of $11.7 billion, up 5.6% from the same quarter last year, as comps increased 3.9%.

The company also posted fourth-quarter net earnings of $306 million, up 6.3%.

Mooresville, N.C. – Customer interest in core home improvement categories helped lift profits at Lowe’s Companies Inc. during the fourth quarter and fiscal year 2013.

Lowe’s fourth quarter earnings rose 6% to $306 million from $282 million in the year-ago period. Full year net earnings climbed 17% to $2.29 billion from $1.96 billion.

A slowdown in firearms and ammunition sales as well as severe winter weather affected Big 5 Sporting Goods’ fourth quarter same-store sales.

Net sales increased about 2% to $248 million from $243.6 million, while same-store sales declined 0.5%. During the quarter, net income rose 30% to $5.2 million from $4 million compared to the same period in the prior year.

During the fiscal year, net income almost doubled, rising 87% to $27.9 million from $14.9 million. Net sales improved 6% to $993.3 million from $940.5 million and same-store sales rose 3.9%.