Department Store

Indianapolis -- The Finish Line said its fourth-quarter profit dropped 18% as gross margins fell and overall sales declined more than analysts expected. The chain’s adjusted earnings and same-store sales growth, however, were in-line with its expectations.

For the fourth quarter ended March 2, Finish Line reported net income of $34.3 million, down from $41.9 million a year earlier.

Hamilton, Bermuda -- Signet Jewelers Ltd. reported better-than-expected fourth-quarter results, helped by sales gains at its biggest division, Kay Jewelers. The company, which raised its quarterly dividend by 25%, said it anticipates opening 65 to 75 new U.S. stores for the year. 


Signet, which also operates the Jared chain in the United States and the Ernest Jones stores in Britain, said revenue increased 11.8% to $1.51 billion for the quarter ended Feb. 2.

NEW YORK — Harris Interactive has revealed the brands that Americans rank highest in brand equity. Surveying more than 38,000 American consumers, it measures the level of quality, familiarity, and purchase consideration for each brand, and then awards "Brand of the Year" status to the top-ranked brand from each category.

New York -- Kohl’s, Target, and Walgreens were named “Brand of the Year” in their respective categories in the 2013 Harris Poll EquiTrend survey.

The annual study, conducted by Harris Interactive, reveals the brands that Americans rank highest in brand equity. Surveying more than 38,000 American consumers, it measures the level of quality, familiarity, and purchase consideration for each brand, and then awards "Brand of the Year" status to the top-ranked brand from each category.

Plano, Texas -- A Tuesday report by Reuters said that embattled J.C. Penney Co. has recently revived its previously abandoned pricing strategy of raising prices on its own brands then discounting them as a way to spike sales and margins.

Citing an emailed statement by Penney spokeswoman Daphne Avila, Reuters reported that the retailer began changing price tags on merchandise earlier in March and expects to complete the process in April.

Nashville, Tenn. -- GBT Realty Corp. said Wednesday it has closed on the purchase of approximately 20 acres along Pooler Parkway in Pooler, Ga., for the development of the Village on Pooler Parkway. The development will consist of more than 143,000 sq. ft. when completed in the first quarter of 2014.
 

NEW YORK — The New York Times Editorial Board in an editorial published Tuesday, signaled Congress may be ready to take up the Marketplace Fairness Act of 2013, a bill allowing states to require online retailers to collect sales taxes.

Chicago -- Lemont, Ill.-based Englewood Construction said Wednesday that its restaurant group has begun work on four new projects, including a food court in New Jersey’s largest outlet mall, a steakhouse in a downtown Chicago luxury hotel and two suburban Chicago mall restaurants.

“As we head out of the recession, we’re seeing more importance placed on dining and entertainment, and the focus is on redevelopment,” said William Di Santo, president, Englewood Construction.