Financial/Banking

Fort Worth, Texas -- Pier 1 Imports’ same-store sales increased rose 8.9% in the fourth quarter. The chain also offered earnings guidance for the quarter that was slightly above what Wall Street expects.

Total revenue for the quarter rose 8% to $427 million from $396 million.

For the full year, which ended Feb. 26, same-store were up 10.9% while total revenue rose to $1.4 billion from just under $1.3 billion.

NEW YORK -- Following its emergence from bankruptcy, Loehmann's announced some executive changes. According to the company, CEO Jerald Politzer, who guided the company through this successful bankruptcy process, has chosen to leave Loehmann's. Joe Melvin, the company's COO and CFO will assume the role of interim CEO.

Suffern, N.Y. -- Ascena Retail Group's fiscal second-quarter net income nearly doubled to top expectations, buoyed by solid results at its Justice stores.

The company, formerly The Dress Barn, reported net income of $42.5 million for the quarter, up from $21.7 million last year.

Revenue for the period ended Jan. 29 was up 27% to $752.2 million, better than the Street's $716.2 million estimate. Same-sale sales rose 9%.

LAKELAND, Fla. — Publix on Tuesday disclosed a 4.4% increase in its fourth-quarter sales, reaching $6.4 billion, while comparable-store sales for quarter also rose 3.2%.

Net earnings for the retailer totaled $342.1 million, compared with $284.2 million in the year-ago period, an increase of 20.4%. Earnings per share for the fourth quarter increased to 44 cents for 2010, up from 36 cents per share in 2009.

New York City -- Retail sales in February rose in most categories ranging from clothing to furniture, despite winter storms and rising gas prices, MasterCard Advisors' SpendingPulse, which tracks spending in all forms including cash. While the increase maintains the positive performance that began in fall 2010. However, February’s year-over-year growth rates were smaller in most categories than those recorded in the November 2010 through January 2011 period.

If Black Friday and Cyber Monday 2010 numbers were any indication, retail may well be prepping for some measurable bounce in 2011.

But the road to recovery isn’t going to be without frustrations, according to Chicago-based Jones Lang LaSalle’s North America Retail Outlook report, released in November.

The inaugural report examined retail real estate fundamentals such as vacancy levels, rental rates and investment sales volumes -- and drew the conclusion that 2011 would see a “slow and arduous retail sector recovery.”

New York City -- Shareholders of J.Crew Group have approved a $3 billion deal to be taken private by two investment firms.

The $43.50-per-share buyout by private-equity firms TPG Capital and Leonard Green & Partners is expected to close on or near next Monday. J. Crew CEO Millard (Mickey) Drexler will remain with the company.

LAKELAND, Fla. -- Publix Tuesday reported fourth-quarter sales of $6.4 billion, a 4.4% increase from last year’s $6.1 billion. Comparable-store sales for the fourth quarter of 2010 increased 3.2%.

Net earnings for the fourth quarter of 2010 were $342.1 million, compared with $284.2 million in 2009, an increase of 20.4%. Earnings per share for the fourth quarter increased to 44 cents for 2010, up from 36 cents per share in 2009.