eCommerce

Old Navy navigated a big wave of sales during the holidays as Gap Inc. continued to try to revive its namesake Gap brand, with lackluster results.

The apparel retailing company reported that for the fourth quarter, same-store sales rose 11% and total sales rose 12% at Old Navy; company wide at Gap Inc, same store sales rose only 2%.

San Francisco -- Gap Inc. reported stronger-than-expected fourth-quarter results on Thursday, fueled by surging sales at Old Navy and strong online results. But it offered a disappointing profit outlook for 2015 as it feels the impact of the stronger U.S. dollar and West Coast port delays.

New York -- These are tough times for discount grocery stores — unless the company happens to be the fast-growing Aldi. Pittsburgh-based supermarket operator Giant Eagle plans to close all eight of its Good Cents Grocery + More stores. The closures are set for March 26.

Jay Carney spent three years parsing words as president Barack Obama’s top spokesman and now has joined Amazon.com as senior vice president of worldwide corporate affairs, according to Politico.

St. Petersburg, Fla. – HSN Inc. had a successful fourth quarter of fiscal 2014, beating Wall Street estimates for both net income and sales. Net income rose 11% to $68.3 million from $61.6 million, while net sales grew 10% to $1.12 billion from $1.1 billion.

Digital grew 12%, reaching a milestone of representing more than half HSN’s business. Mobile remains the company’s fastest-growing platform with growth of 40% in the quarter.

Off-price department store operator Steinmart is looking to capitalize on favorable business trends this year with an aggressive expansion plan that will see the company add 11 new stores.

The Jacksonville, Fl.,-based operator of 270 stores had indicated last fall it would open 10 new stores this year, but after reporting better than expected sales results the growth target was increased by one location. Steinmart opened nine new stores last year as part of a renewed commitment to physical expansion.

New York -- Jay Carney, former White House press secretary for the Obama administration and current CNN analyst, has been appointed senior VP of worldwide corporate affairs for Amazon, effective March 2. The newly created position brings Amazon’s worldwide public relations and public policy shops into one department under Carney.

The news was first reported by Politico, which noted that Carney will leave CNN and divide his time between the online retail giant’s headquarters in Seattle and Washington, D.C.

Hoffman Estates, Ill. -- Sears Holdings Co. on Thursday reported its 11th consecutive quarterly loss, posting a loss of $159 million for the fourth quarter, down from loss of $358 in the year-ago period, amid cost reductions.

The struggling chain saw its losses for the full year widen to $1.7 billion from $1.4 billion, marking its fourth straight year of decline. Total long-term debt rose to $3.2 billion from $2.9 billion a year earlier.