Retail

Philadelphia -- Metro Commercial announced that Allen Edmonds has opened a flagship shoe store in Philadelphia, located at the corner of 18th & Chestnut Streets.

The 1,900-sq.-ft. store opened in February.

Metro Commercial negotiated the lease on behalf of the landlord Midwood Investment & Development.    

Costco Wholesale Corp.’s winning streak continues as the chain reported a better-than-expected 39% increase in profits for its fiscal second quarter. Here is Planet Retail’s take on the company’s most recent performance and future prospects:
 

Boca Raton, Fla. -- Office Depot has been recognized with a Climate Leadership Goal Achievement Award for Excellence in Greenhouse Gas Management by the U.S. Environmental Protection Agency’s Center for Corporate Climate Leadership, the Association of Climate Change Officers the Center for Climate & Energy Solutions, and The Climate Registry.

New York -- The Fresh Market announced the resignation of Randy Kelley as SVP real estate and development. Kelley, who is leaving the grocer, to pursue a new business opportunity, will remain with the company through early spring.

York, Pa. -- The Bon-Ton Stores reported better-then-expected fourth quarter net income of $74.4 million, compared with $78.2 million in the year-ago period.

Revenue for the three months ended Feb. 2 increased 3.2% to $1.02 billion, missing the Street’s view of $1.04 billion. Same-store sales increased 1%. (Results for the fourth quarter and fiscal 2012 are impacted by the inclusion of an additional week in each period, resulting in a 14-week and 53-week reporting period.)

Issaquah, Wash. -- Costco Wholesale Corp posted a better-than expected 39% increase in quarterly profit, helped by increasing sales and a rise in membership fees.

Net income was $547 million in the fiscal second quarter ended on Feb. 17, compared with $394 million a year ago.

Chicago -- Despite all the headlines about Canadian and global growth, U.S. expansion remains a key growth strategy for retailers, according to a survey of 100 retail chief financial officers by BDO USA.  
   
In the seventh-annual BDO Retail Compass Survey of CFOs, 30% of the executives said U.S. expansion will be their priority growth tactic in 2013, followed by improving merchandise assortment (24%) and e-commerce and mobile commerce (22%).
   

New York -- Another day, another J.C. Penney story. Amid rumors that Penney chief executive Ron Johnson was stepping down, the chain flatly denied the allegations.

“Ron Johnson is not quitting or resigning from J.C. Penney and he has no plans to do so,” Joey Thomas, a Penney spokesman said in an e-mail reported by Bloomberg. “The rumors are false.”