Department Store

CINCINNATI — Macy's continues to see improved financial performance, reporting fourth-quarter sales and earnings today that exceeded management’s expectations.

The company reported fourth-quarter earnings per diluted share of $1.74, compared with diluted earnings per share of $1.59 for the fourth quarter of 2010. Sales for the quarter increased 5.5% to $8.7 billion from $8.3 billion last year. Same-store sales for the quarter increased 5.2%.

NEW YORK — Saks Inc. fourth-quarter net income climbed 48% amid strong sales of handbags, fine jewelry and men's and women's apparel. The earnings topped expectations.

For the period ended Jan. 28, Saks earned $37 million, compared with $25 million last year. Quarterly revenue rose 7% to $925.1 million from $866.3 million, beating Wall Street's $918.9 million estimate.

Same-store sales were up 7.7%.

Saks Direct has an increase of about 21%. Saks said revenue at Off 5th stores open at least a year was weaker than expected.

DAYTON, Ohio — While Walmart maintained the No. 1 position on Interbrand's U.S. Most Valuable Retail Brands list for 2012, several other retailers are moving up the ranks.

Although Walmart touts a value that's more than $139 billion, this year also marked a 2% decrease for the big box retailer, Interbrand said. Second on this year's list was Target, which holds a value of $23 billion, a 1% increase over last year.

HOFFMAN ESTATES, Ill. — A spokesman for Sears Holdings Corp. said that the owner of Sears and Kmart stores is cutting 100 jobs at its headquarters in Hoffman Estates, Ill.

According to Chris Brathwaite, Sears spokesman, the cuts cover a range of positions. The terminated employees were notified Thursday.

The retailer has not said whether additional cuts are planned.

Nordstrom’s transition from a retailer best known as an operator of upscale department stores to an off-price discounter is poised to continue in 2012 as expansion plans for Rack outlet stores outpace those of full line Nordstrom stores.

With China on pace to become one of the world's biggest retail market, any insight on developing a retail business in this area is welcomed, which is why it is no surprise that Scott Price, president and CEO of Walmart Asia, is scheduled to speak at the World Retail Congress Asia Pacific in Beijing this March.

Despite considerable efforts by Walmart in recent years to improve its reputation, a recent Harris Interactive Reputation Quotient poll shows the company has considerable room for improvement.

The study, now in its 13th year, surveyed 17,500 consumers about their perceptions of the 60 most visible companies in America. Not surprisingly, a fair number of those were major national retailers who have become household names. Walmart ranked 41st overall on the list of 60 companies and 10 other retailers were ranked ahead of Walmart.

MINNEAPOLIS — It's a common dilemma for retail stores; customers come in to check out the latest merchandise only to then buy it at a competitor's website. According to a new survey from market research fim ClickIQ, nearly half of consumers who have shopped online within the past six months first checked out the product at their local retail store and then made the purchase online, often from a different source.