Department Store

When Walmart executives speak about prices, inflation or the nation’s economic condition their comments create quite a stir, and that’s what we saw again this week when Bill Simon spoke to USA Today.

Seattle -- Nordstrom announced plans to open a Nordstrom Rack in Boise, Idaho.

The 37,000-sq.-ft. store will be part of the Boise Towne Plaza shopping center and is expected to open in spring 2012.

New York City -- Walmart, Target, The Home Depot, Best Buy and CVS took top honors in Interbrand’s annual ranking of the 50 most valuable U.S. retail brands. The U.S. brands are valued in collaboration with Interbrand Design Forum, the retail experience group within Interbrand.

New York City -- Hennes & Mauritz AB Thursday reported that its net profit in the first quarter fell 30% from a year earlier on “significantly higher” cotton prices, higher transportation costs and a stronger Swedish krona. The chain said profit in the quarter ended Feb. 28 fell to 2.62 billion Swedish kronor ($414 million).

PARIS  -- L'Oreal Paris announced that it has named Madame Ines de la Fressange as its latest ambassador.

"Ines de la Fressange, our new L'Oreal Paris spokeswoman, has divine grace, that very contemporary way of being a woman, at once free, unexpected and mesmerizing. An accomplished model, mother and designer, she leads a full life. I am delighted that she is bringing that irresistible 'je ne sais quoi' to the brand," says Cyril Chapuy, global brand president L'Oreal Paris.

Bermuda -- Signet Jewelers Ltd., whose brands include Kay Jewelers and Jared The Galleria of Jewelry, reported Wednesday that net income for the quarter ended Jan. 29 decreased 9% to $105.4 million, from $115.5 million a year earlier.

Revenue for the period rose 6% to $1.27 billion from $1.2 billion, meeting Wall Street expectations. Same-store sales increased 8.1%.

Hampstead, Md. -- JoS. A. Bank Clothiers reported Wednesday that net income for fiscal year 2010 leaped 21% to a record $85.8 million, compared with $71.2 million in the year-ago period.

Net sales surged 11.4% to a record of $858.1 million in fiscal year 2010, compared with $770.3 million in fiscal year 2009.

Same-store sales increased 7%.
 

Bentonville, Ark. -- Wal-Mart Stores’ Scott Price, CEO for Asia, said Wednesday that the retailer makes $16 billion in annual sales in Japan, China and India.

In a report broadcast on Wal-Mart’s website and covered by Bloomberg, Price said that operations in Japan have $8 billion annual sales from 414 stores with 36,000 workers.

Annual revenue is $7.5 billion in China, generated by 329 stores, and sales in India are less than $1 billion a year, according to Price.

New York City -- Saks said Tuesday that lenders have agreed to amend a $500 million revolving credit agreement that now extends to 2016. The agreement also favorably revises other terms.

As a result, the department store retailer estimates its 2011 interest expenses will total about $50 million, down from its previous estimate of $51 million to $53 million.

The debt previously was scheduled to mature Nov. 23, 2013. Now, it matures March 29, 2016.

New York City -- Prudential Douglas Elliman’s Retail Group announced that it has arranged a space for European fashion icon Piero Guidi at 430 West Broadway in New York City.

The 3,600-sq.-ft., double-height space features all-glass frontage, between Prince and Spring Streets.