Department Store

Topeka, Kan. — Collective Brands reported that first-quarter 2011 net earnings were $26.4 million, or 42 cents per share, compared with $54.2 million, or 83 cents per share, in the first quarter of 2010.

The company reported that net sales decreased 1.1% to $869 million. Same-store sales were down 7.4%. 

St. Louis — Brown Shoe Company Inc., which operates Famous Footwear stores, said Wednesday that its first-quarter earnings tumbled, despite rising revenue caused by higher costs.

The company earned $3.7 million, compared with year-ago earnings of $10 million. Excluding special charges for restructuring and other items, the company earned $7 million.

Revenue rose to $624.6 million from $597.7 million a year earlier. Revenue declined at the company's Famous Footwear and specialty retail operations, but wholesale revenue jumped 27%.

Pasadena, Calif. — Disney Store plans to open its interactive concept stores in more than 40 locations in 2011 the company announced today at the Global Retail Real Estate Convention in Las Vegas.  The company said that by the end of 2011, it will have 60 new concept stores in 16 major markets in North America and eight countries.

Hoffman Estates, Ill. — Sears Holdings has named William Phelan as acting CFO, replacing Michael Collins, currently SVP and CFO, who resigned last week to pursue another opportunity, the company reported in an SEC filing.

Collins will remain with the company until June 10 in order to ensure a smooth transition, Sears noted in the filing.

NEW YORK  — Ann Inc., the parent company of Ann Taylor and Ann Taylor Loft stores, reported that for the fiscal first quarter of 2011, earnings per diluted share were 51 cents, compared with earnings per diluted share of 38 cents in the first quarter of 2010.

Hoffman Estates, Ill. — Sears Holdings announced that Sam Solomon has joined the company as SVP and president of its tools business.  Solomon is responsible for developing and driving growth and profit opportunities for one of the company's cornerstone businesses, the company reported.  He was recently CEO and president of The Coleman Company Inc.  

Last week’s issue of Target News Now contained some inaccurate information relating to the level of promotional activity during April at some of the nation’s leading retailers. The correct information along with a link to a revised chart provided by research company Market Track is below.

Cleveland, Ohio --Forest City Enterprises, Inc., announced the creation of a new leadership position to support the company’s growing presence in the Texas real estate market.  

Effective immediately, Brian Ratner has been promoted to president of Forest City Texas and will lead the company’s Texas operations from its regional office in Dallas.