Apparel

Toronto -- Sears Canada Inc. reported Wednesday that profit for the fourth quarter dipped 3% to $38.8 million on weakened hardware and electronics sales.

Revenue fell 5% to$1.25 billion in the period, and same-store sales dropped 3.8%.

Parent Sears Holdings Corp., which cut its stake in Sears Canada from 90% to 51% last year, said in January that Sears Canada's fourth quarter adjusted earnings would fall by about half.

COLUMBUS, Ohio — Limited Brands reported that adjusted earnings per share for the 14-week fourth quarter ended Feb. 2  were $1.76 compared with $1.50 for the 13-week fourth quarter ended Jan. 28, 2012.  

Comparable-store sales for the quarter increased 5%. Net sales were $3.86 billion for the quarter compared with $3.5 billion for the same period last year.  

FRAMINGHAM, Mass. — The TJX companies reported that sales for the 14-week fourth quarter ended Feb. 2 were $7.7 billion, a 15% increase over the prior year. Consolidated comparable-store sales for the quarter on a 13-week basis increased 4% over the prior year’s 7% increase.

Net income for the 14-week fourth quarter was $605 million and diluted earnings per share were 82 cents, a 32% increase over last year’s 62 cents.

By Sandy Skrovan, U.S. research director, Planet Retail

Plano, Texas -- There were no signs of relief for J.C. Penney Co. in the fourth quarter as the company reported a wider-than-expected net loss of $552 million, compared with a loss of $87 million in the year-ago period. The chain did not issue guidance, but did announce would open nearly 20 home-centered shops with different brand partners in 550 stores the spring.

Columbus, Ohio -- A Wednesday report by Bloomberg said that Limited Brands’ Victoria’s Secret banner would open its first stores in Hong Kong this year.

On the boards are two 1,500-sq.-ft. Victoria’s Secret shops at the International Finance Centre in the Central business district and at New Town Plaza. Bloomberg cited an emailed statement by Limited spokesperson Robin Hoffman.

NEW YORK — Coach announced that Zach Augustine will join the company as EVP, global environments, effective March 11, reporting to Reed Krakoff.

Augustine will lead initiatives across visual merchandising, architecture and creative cevelopment partnering with the other leaders to create a consistent and cohesive brand story.

Framingham, Mass. -- The TJX Cos. reported Wednesday a profit of $604.8 million for the quarter ended Feb. 2, compared with $475.3 million in the year-ago period. Despite the strong showing, TJX forecast a slowed growth pace for the new fiscal year and issued a profit forecast below analysts’ expectations. And joining many other retailers, the company announced that beginning with the fiscal 2014 second quarter, it will no longer report monthly sales.