Jewelry

New York – A $473 million charge resulting from arbitration with The Swatch Group in December 2013 resulted in Tiffany & Co. reporting a net loss of $104 million in the fourth quarter of fiscal 2013. Tiffany reported net earnings of $180 million in the year-ago period.

Tiffany & Co. reported a net loss of $104 million in the fourth quarter of fiscal 2013 thanks to a $473 million charge resulting from arbitration with The Swatch Group Dec. 2013.

The company reported net sales for the quarter of $1.3 billion, up 5% from $1.23 billion last year. Same-store sales for the quarter increased 6%.

Cranston, R.I. – During the 2013 holiday season, Alex and Ani turned to EBay Enterprise, an EBay Inc. company, to help drive sales and achieve higher ROI through its Facebook ads. Between Thanksgiving and Cyber Monday, the company’s Facebook ads drove $1.6 million

New York -- Ralph Nicoletti, executive VP and CFO of healthcare services and insurance provider Cigna, will become the next executive VP and CFO of Tiffany & Co. His appointment to those offices will become effective on April 2, 2014.

Tiffany & Co. has appointed Ralph Nicoletti as its next EVP and CFO, effective April 2. He steps into the CFO role following current chief operating officer and CFO James N. Fernandez’s plans to retire in July.

Nicoletti will be based in New York and responsible for the company’s worldwide financial functions and information technology. He will report to chairman and CEO Michael J. Kowalski

Oakbrook Terrace, Ill. — Mid-America Asset Management Inc. has announced new retail leases in four shopping centers in Chicago’s northwest suburbs.

Big Blue Swim School signed a lease for 10,075 sq. ft. at The Grove in Buffalo Grove, Ill. The School’s second location in the Chicago area, it is expected to open in November. Jewel Osco, Chase and American Mattress anchor the 117,367-sq.-ft. center. Mid-America represented the landlord in the transaction. NGKF represented the tenant.

Glendale, Calif. — Throughout the spring and summer, Glendale Galleria will open nine new stores and eateries including Armani Jeans, Blaze Pizza, Brighton Collectibles, Chipotle, Coach, Earthbar, Lolli & Pops and Zumiez.

They will join La Baugette, another newcomer, which opened its Glendale Galleria location back in February.

Charlotte, N.C. — Belk has announced a $12.6 million expansion and renovation of its store in Cool Springs Galleria, a 1.1 million-sq.-ft. mall in Franklin, Tenn., a suburb of Nashville. CBL & Associates Properties and TIAA-CREF own the center jointly.

Belk plans to create a new fashion flagship store for the greater Nashville region.

Dallas – Zale Corp. reported a 10% in net earnings during the second quarter of fiscal 2014, rising to $51 million from $41 million in the same quarter the prior year. However, revenues dipped 2% to $656 million from $671 million, while same-store sales rose 1.9%.

Zale attributed the decline in revenues primarily to the net decrease of 86 stores compared to fiscal 2013 and a decline in the Canadian exchange rate, partially offset by the 1.9% constant currency same-store sales growth.

A little more than a week after Signet Jewelers said it plans to acquire all of the issued and outstanding stock of Zale for $21 per share in cash consideration, Zale reported net earnings of $51 million in the second quarter, a 10% increase from $41 million in the prior-year period.

Same-store sales increased 1.9%, but revenues slipped 2% to $656 million from $671 million.