Department Store

Plano, Texas – Two major J.C. Penney Co. Inc. executives who left the company in April 2013 did so without receiving severance pay. According to a regulatory filing from Penney, neither former CEO Ron Johnson nor former chief talent officer Daniel Walker were paid any severance when they left the retailer.

San Francisco – Gap Inc. had a disappointing February 2014 as net sales and same-store sales declined, compared to the same month in the prior year. Net sales fell 4% to $929 million from $966 million, while same-store sales dropped 7%.

Foot Locker enjoyed record results for the fourth quarter and full year ended Feb. 1, and expects to build on that momentum in 2014.

For the quarter, the company reported net income of $121 million, or $0.81 per share, for the 13 weeks ended Feb. 1. This represents an increase of 19% over earnings per share of $0.68 for the 14-week period ended Feb. 2, 2013.  

San Francisco -- Shopper activity cooled off in February 2014 as a result of extremely cold weather across the country. According to in-store retail analytics provider Euclid, analysis of data from tens of millions of domestic shopping sessions indicates that general merchandise, apparel, furniture and other (GAFO) retail sales grew by a modest 0.7% year-over-year.

Severe weather that persisted during the year’s shortest month affected Gap’s February sales results. 

The company reported net sales for the four-week period ended March 1 of $929 million, compared with net sales of $966 million for the four-week period ended March 2, 2013. Comparable-store sales for the month declained 7%, versus last year’s 3% increase.

“While February was clearly a difficult month, we remain focused on executing our global priorities,” said chairman and CEO Glenn Murphy.

The Bon-Ton Stores is investing in its growing e-commerce business. The company has signed a lease with Duke Realty Corp for a 743,000-sq.-ft., automated, direct-to-consumer fulfillment center in West Jefferson, Ohio.

The company expects the facility to be fully operational and ship its first orders in spring of 2015.

Northbrook, Ill. – The U.S. Secret Service has reportedly arrested three members of a family living in Northbrook, Ill., for running a sophisticated shoplifting ring that stole items from stores ranging from Maryland to Texas during the past 10 years.

TAIPEI -- Gap will officially open its first Taiwan flagship store on March 8 as part of its ongoing strategy to expand Gap’s global footprint. With plans to open about 30 Gap stores across its Greater China region, including three in Taiwan, the brand expects to have more than 100 stores by the end of fiscal 2014.