FINANCE

Higher customer spending and lower costs help drive better-than-expected fourth quarter sales and profit at Dollar Tree.   The discounter’s solid quarterly performance capped a year in which it opened 584 new stores and exceeded $20 billion in sales.    Dollar Tree reported net sales of $5.64 billion for the quarter ended Jan. 28, up 5.0% from $5.37 billion in the year-ago period.  

Publix Supermarkets’ sales and profit rose in the fourth quarter amid continued expansion.      Publix’s net earnings for the fourth quarter rose 4.5% to $544.5 million, from $521.1 million in the year-ago period.   Sales rose 11.1% to $9.1 billion. (The additional week in the fourth quarter of 2016 increased sales by 7.4%.) Same-store sales increased 2.2%.  

Strengthened by strong holiday performance, a steadily recovering housing market and an increasingly omnichannel approach, Lowe¹s reported fourth quarter net sales of $15.8 billion, up 19.2% from $13.2 billion in the same quarter a year ago.   Net earnings for the quarter swelled to $663 million, up from $11 million in the fourth quarter of 2015.   Comparable sales increased 5.1% in the quarter.  

The Conference Board announced a new high for consumer confidence in February, which reached its highest level since July 2001.   The index now stands at 114.8, up from 111.6 in January.  

Lucy Activewear plans to shutter its retail store operation, and merge with a sister brand.    Lucy, which is owned by VF Corp., will merge with The North Face, also owned by VF.     

The off-price segment continues to be one of the brightest spots in brick-and-mortar retail.    Ross Stores on Tuesday reported earnings per share for the fourth quarter ended January 28, 2017 of $.77, up 17% from the prior year, on net earnings that rose 14% to a better-than-expected $301 million. But the retailer offered a cautious outlook amid economic and industry challenges.    Ross’ sales quarter grew 8% to $3.5 billion. Same-store sales increased 4%.   

Strong online sales were not enough to help Target Corp. overcome a very disappointing fourth quarter, whose sales and earnings were far below Wall Street expectations. And the discounter offered a weak outlook for 2017.   Target on Tuesday issued a full-year profit forecast that was far below market expectations, and said it plans to invest more money into enhancing its digital online platform and cutting prices. The chain said it would sacrifice gross margins this year to stay ahead of the competition.