eCommerce

In open-air, context often trumps content

Expect no prophesying about the death of enclosed malls. The format is alive and well, and there are countless examples of thriving under-roof shopping centers around the country.

Still, there is no question that the open-air format has stolen mall thunder.

CITY OF INDUSTRY, Calif. — Teen retailer Hot Topic reported net income in the fourth quarter of $12.1 million, or 29 cents per share, compared with net income of $9 million, or 21 cents per share, for the fourth quarter of fiscal year 2011.

PHILADELPHIA — The Pep Boys – Manny, Moe & Jack has announced that Robert Rosenblatt and Andrea Weiss have joined its board of directors. With these appointments, Pep Boys has increased the current size of its board from seven to nine directors.

NASHVILLE, Tenn. — Home decor retailer Kirkland's announced that Robert Alderson, the company’s long-time president and CEO, has advised the board of directors of his intention to retire from the company at the end of fiscal 2013, or approximately Feb. 1, 2014.

KEARNEY, Neb. — The Buckle announced that net income for the fiscal quarter was $61.4 million, or $1.29 per share ($1.28 per share on a diluted basis), compared with $56.1 million, or $1.19 per share ($1.18 per share on a diluted basis) for the fourth quarter of fiscal 2011. Net income for the fiscal year was $164.3 million, or $3.47 per share ($3.44 per share on a diluted basis), compared with $151.5 million, or $3.23 per share ($3.20 per share on a diluted basis) for the fiscal year ended January 28, 2012..

Scott Kennedy was named president of Target financial and retail service to replace long time finance executive Terry Scully.

Scully spent nearly 35 years with Target and is moving into a strategic advisory role to ensure the smooth transition of the recently sold credit card portfolio to TD Bank Group. Scully, 60, will officially retire in March 2014. Filling his shoes as head of financial and retail services is Scott Kennedy, 44. He joined Target in 2005 and currently serves as VP of pay and benefits.

Gap Inc., Ebay, Safeway, Wegmans, Whole Foods, Costco, Target, Best Buy and OfficeMax were all named to Ethisphere Institute’s World’s Most Ethical Companies list.

The companies were chosen based on an evaluation of a questionnaire provided by Ethisphere to determine each company’s Ethics Quotient (EQ).

Companies were evaluated for their own ethics policies and enforcement of such policies, ethical track record and reputation in the market place, corporate governance, corporate responsibilities and culture of ethics.

SAN FRANCISCO — Target has agreed to buy Chefs Catalog from JH Partners, LLC, a private equity firm specializing in investing growth capital in consumer-focused companies. 

Chefs Catalog is a leading direct-to-consumer specialty retailer of top-rated cookware, bake ware, cutlery, kitchen tools and cooking utensils including such brands as All-Clad, Cuisinart and Kitchenaid.  JH Partners acquired Colorado Springs, Colorado-based Chefs Catalog from The Neiman Marcus Group, Inc. in 2004. 

NEW YORK — Aeropostale reported that net sales for the fourth quarter decreased 1% to $797.7 million, from $808.4 million in the year ago period. Fourth quarter comparable sales, including the e-commerce channel, decreased 8% compared with a 7% decrease for the corresponding 14-week period of the prior year.  Fourth quarter comparable store sales, excluding the e-commerce channel, decreased 9%, compared to a decrease of 9% for the corresponding 14-week period of the prior year. 

 NEW YORK — Walmart stores will be the exclusive retailer of a new adventure from Thomas the Tank Engine beginning April 9, 2013.

The new DVD, Thomas & Friends: Railway Mischief, features five brand new episodes and a bonus, collectible “Calling All Engines” poster. There are also bonus features including a hide and seek game, a music video and a "Guess Who?" puzzle. 

The DVD will be sold for a suggested retail price of $14.98.