Winter Holidays

Minneapolis -- Target Corp. reported Wednesday a profit of $961 million for the fourth quarter, down from $981 million in the year-ago period. The profit slip reflected expenses related to its Canadian market entry along with a spending slowdown during the holiday sales period. It was Target's weakest holiday season performance since 2008. But its adjusted results beat analysts' estimates and it forecast first-quarter earnings above Wall Street's view.

Atlanta -- The Home Depot Inc. said Tuesday its fiscal fourth-quarter net income jumped 32%, beating expectations, helped by strong U.S. sales and repairs and cleanup resulting from Superstorm Sandy. The chain also said it will buy back $17 billion of its common stock and boosted its quarterly dividend by 34%.

Little Rock, Ark. -- Dillard’s Inc. posted fourth-quarter net income of $161.4 million, up 14% over the year-ago period. It also reported its 10th consecutive quarter of same-store sales growth.

Mooresville, N.C. -- Lowe's Co. reported fourth quarter profits that topped Wall Street estimates, helped rebuilding efforts in the wake of Hurricane Sandy and general remodeling activity. The retailer also said it authorized a new $5 billion share buyback program that it expects to use in the next two year

PLANO, Texas — JCPenney announced that Canada’s Joe Fresh brand will launch in JCPenney stores beginning March 15, with a collection of modern basics for women. The collection will be displayed in 750-sq.-ft. to 2,500-sq.-ft. dedicated shops in nearly 700 JCP stores.

New York -- Google is planning to open freestanding retail stores in the United States, with the first flagship locations open in time for the 2013 holiday shopping season, according to a report by online site 9to5Google.

“Google feels right now that many potential customers need to get hands-on experience with its products before they are willing to purchase," the website reported.
 

Due to Presidents Day on Monday, February 18, Retailing Today will not be publishing stories. We will resume publishing on Tueday, February 19. Have a great Presidents Day holiday!

CHICAGO — Retail executives are moderating their expectations for 2013 following uneven sales in December and January, according to a new survey of CFOs by professional services form BDO USA.