Department Store

Vancouver -- J. Crew has announced three new Canadian store openings, according to a report in the Financial Post.

The new locations include stores in Vancouver, Edmonton and Toronto, and will join the sole store already open in the country as well as herald the launch of the retailer’s men’s apparel line in Canada.

LITTLE ROCK, Arkansas — Dillard's ended its fiscal year with higher income and increased sales, and heads into 2012 on the heels of a record-setting performance.

The company reported income for the fourth quarter ended Jan. 28 of $141.5 million, or $2.77 per share. For the prior year fourth quarter, Dillard's reported net income of $109.6 million, or $1.75 per share.

Fourth-quarter same-store sales at JCPenney declined 1.8%, and the company lost $87 million, but those details are being overlooked for the time being as execution of the transformation strategy envisioned by CEO Ron Johnson began less than a month ago.

Edens will unveil Mosaic in fall 2012. The urban grid design mixing hotel, office and retail, Mosaic is a 31-acre mixed-use development located in the heart of Merrifield, Va.

Mosaic offers a wide variety of on-site amenities including a diverse offering of restaurants unique to the community, shops and large-scale retailers, specialty services and more, all within walking distance.

SAN FRANCISCO — Gap Inc.'s fourth-quarter net income plummeted 40% on higher costs and aggressive discounting during the holiday selling season.

The company reported that net income for the quarter ended Jan. 28 was $218 million, compared with $365 million a year earlier. Sales dipped to $4.28 billion in the quarter, from $4.36 billion, matching Wall Street estimates.

SAN FRANCISCO — Gap Inc. has named Jill Stanton to the newly-created role as creative advisor for Old Navy and Liz Meltzer as SVP Gap international merchandising.

“Boosting our already-strong creative talent is a key focus in 2012,” said Glenn Murphy, chairman and CEO of Gap Inc. “On the heels of Tracy Gardner coming back to Gap, we are thrilled that Jill Stanton will bring her talent and proven business experience as creative advisor to Old Navy to help us deliver consistently great product.”

Twenty new Target stores are scheduled to open this year including the company’s first five CityTarget locations and two other units at recently disclosed California locations.

Target said it would open a 135,000-sq.-ft. store in the California coastal town of Capitola, about an hour and a half south of San Francisco, in July. The store will be the company’s second location in Santa Cruz County.

By Dave Spargo, [email protected]