Department Store

New York -- Saks Fifth Avenue Off 5th will open its doors in Chandler, Ariz., on Thursday, April 4, 2013.

The new 28,000-sq.-ft. store is located in Phoenix Premium Outlets, which is opening to the public that day. The new outlet center, owned and operated by Simon Property Group, is part of Wild Horse Pass, within the Gila River Indian Community, which includes hotels, a spa, casino, golf, an equestrian center, fine dining and more.

HOFFMAN ESTATES, Ill. — Sears Hometown and Outlet Stores has elected James Gooch to its board of directors and as chair of the audit committee of the board of directors.

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.

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.

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.

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.

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.

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.