eCommerce

JOHANNESBURG, South Africa — A South African regulatory body gave Wal-Mart Stores permission on Friday to move ahead with its $2.2 billion purchase of South African chain Massmart.

The Competition Appeal Court upheld a ruling last year by the Competition Tribunal, but did require a study to determine a path to protect small producers who might not be able to compete with foreign producers from whom Wal-Mart can import cheaper goods.

NEW YORK — Ann Inc.'s net income for its fiscal fourth quarter dropped to $2.2 million from $8 million in the year-ago period, hurt by heavy promotions at namesake stores.

Sales increased to $566.7 million, from $515.3 million, and same-store sales for fourth quarter rose 5.3%.

By brand, same-store sales plummeted 10.9% at namesake stores, but rose 8.1% at Loft stores. Strength in the online channel boosted overall same-store results.

Seattle -- A report by Bloomberg said that Nordstrom Inc. will introduce an ongoing free shipping program for all purchases made at its department stores starting next week.

The program was unveiled just months after Nordstrom introduced standard free shipping and returns on its online orders. It was the first department store chain to do so.

Jacksonville, Fla. -- Apparel retailer Body Central Corp. reported Thursday that net income for the fourth quarter more than doubled to $6.1 million, compared with $2.7 million a year earlier.

Revenue surged 20% to $80.7 million, edging Wall Street’s expected $80.5 million in revenue.

For the year, net income more than doubled to $19.7 million from $9.8 million, and revenue rose 22% to $29.7 million.

Los Angeles -- Guess Inc. has grabbed onto the Pinterest social media tool to launch a new contest for its customer base.

The “Color Me Inspired” contest, for which Guess collaborated with four style bloggers, invites the Pinterest community to showcase how color inspires them for a chance to win a pair of color-coated denim from the Guess spring collection.

The one-week Pinterest campaign kicked off on March 8.
 

New York -- Aeropostale Inc. reported Thursday that profit for the quarter ended Jan. 28 dropped to $26.1 million, from $83.8 million a year earlier, hurt by heightened supply-chain expenses.

Revenue dipped 4% to $808.4 million in the quarter, and same-store sales fell 9%. Results edged Wall Street’s expected $807.6 million in revenue.

For the full fiscal year 2011, Aeropostale posted a profit of $69.5 million, compared with $231.3 million last year. Revenue to $2.34 billion, from $2.40 billion in fiscal 2010.

New York City -- Ann Inc. reported Friday that net income for its fiscal fourth quarter dropped to $2.2 million from $8 million in the year-ago period, hurt by heavy promotions at namesake stores.

Sales increased to $566.7 million, from $515.3 million, and same-store sales for fourth quarter rose 5.3%.

By brand, same-store sales plummeted 10.9% at namesake stores, but rose 8.1% at Loft stores. Strength in the online channel boosted overall same-store results.

SACRAMENTO, Calif. — Fresh & Easy Tuesday made its Sacramento, Calif. debut with the opening of two new stores in the region. The retailer plans to open five new stores in the Sacramento area this month.

SAN FRANCISCO — Williams-Sonoma ended fiscal 2011 with revenue and earnings growth in its fourth quarter. The company reported that net revenues for the fourth quarter of 2011 increased 6.1% to $1.3 billion versus $1.2 billion in the fourth quarter of 2010. The company reported diluted earnings per share on a GAAP basis of $1.17 compared with $1.05 for the same period last year.

Walmart is guilty of greenwashing to enhance it corporate reputation, and it would take the company three centuries at the current pace to reach its goal of being supplied 100% by renewable energy, according to a group critical of Walmart sustainability efforts that others have lauded.