Financial/Banking

New York – Foot Locker Inc. had a successful first quarter of fiscal 2014, with rising sales driving solid net income performance. Net income grew 17% to $162 million, from $138 million in the first quarter of fiscal 2013.

Net sales rose 14% to $1.87 billion, from $1.64 billion. Same-store sales climbed 7.6%.

Columbus, Ohio – L Brands had a successful start to fiscal 2014. The company reported a 10% increase in net income to $156.9 million in the first quarter from $142.5 million the first quarter of the previous fiscal year.

Net sales rose 5% to $2.39 billion from $2.27 billion, and same-store sales grew 2% across its retail banners. Higher pretax income and operating income helped boost net income, while especially strong growth in sales at the Victoria’s Secret banner helped drive overall net sales growth.

Fremont, Calif. - The Men's Wearhouse has extended its all-cash tender offer for $65 per share for all of the currently outstanding shares of common stock of Jos. A. Bank to June 5, unless further extended. The tender offer was previously set to expire on May 21.

Tiffany chairman and CEO Michael J. Kowalsk said the company enjoyed “an excellent and encouraging start to the year.”

The company grew net earnings 50% in the first quarter. Net earnings increased 50% to $126 million, up from $84 million in the same period a year earlier, aided by the elimination of pre-tax charges relating to staff and occupancy reduction.

Worldwide net sales grew 13% to $1.01 billion, from $895.48 million. Worldwide same-store sales rose 11% due to growth in most regions.

Phoenix — Sparty Holdings has acquired the 10,017-sq.-ft. Coldwater Plaza in Avondale, Arizona, for $2.085 million.

Evergreen represented Sparty Holdings in the transaction. CBRE (www.cbre.com) represented the seller, a partnership between North Dysart SG and Coldwater Dysart Partners.

The 10,017-sq.-ft. shopping center is 100% leased. Tenants include Pacific Seafood Buffet, Cricket Wireless, Hire Source Staffing, and Checkmate Loans.

Boston — Gordon Brothers Group, an advisory investment firm specializing in the retail, consumer products, industrial and real estate sectors, has named Michael P. Muldowney to the post of CFO. He will work with all business units on transactional, strategic, financial and operational initiatives. Muldowney will also serve as a member of the executive committee.

New York – Tiffany & Co. grew net earnings 50% in a successful first quarter of fiscal 2014. Net earnings increased 50% to $126 million, up from $84 million in the same period a year earlier, aided by the elimination of pre-tax charges relating to staff and occupancy reduction.

Worldwide net sales grew 13% to $1.01 billion, from $895.48 million. Worldwide same-store sales rose 11% due to growth in most regions.

Atlanta – Lease-to-own retailer Aaron’s Inc. has named Sharon Lawrence VP finance and Kirby Salgado as VP merchandising. Lawrence, formerly Aaron's director of franchise finance, joined Aaron's in 2012 after a 25-plus year career at SunTrust Bank, while Salgado most recently served as VP/general merchandise manager for Sears Holdings.