eCommerce

New York City -- Sales at Macy’s, J.C. Penney and Kohl’s surpassed analysts’ estimates in February amid gradually moderating temperatures and rising consumer confidence. However, analysts warned that a late Easter and rising gasoline prices could impact sales going forward.

Confidence among U.S. consumers rose in February to the highest level in three years, according to a Thomson Reuters/University of Michigan index, as a drop in unemployment helped overcome concern over rising food and fuel costs.

Matthews, N.C. -- Family Dollar Stores on Thursday said its board rejected a takeover bid by an activist investor, saying it "substantially undervalues the company." In February, Nelson Peltz's Trian Fund offered $55 to $60 per share, or about $6.99 billion, for Family Dollar.

The chain said it also adopted a shareholder rights plan, commonly called a "poison pill," that would significantly dilute shares if a takeover attempt proceeds.

Framingham, Mass. -- Fourth-quarter sales at Staples increased slightly to $6.4 billion, net income increased 17% to $275 million, and earnings per share increased 19% to 38 cents courtesy of a favorable tax benefit of six cents.

Staples chairman and CEO said he was proud of all the company achieved in 2010.

NEW YORK -- Following its emergence from bankruptcy, Loehmann's announced some executive changes. According to the company, CEO Jerald Politzer, who guided the company through this successful bankruptcy process, has chosen to leave Loehmann's. Joe Melvin, the company's COO and CFO will assume the role of interim CEO.

Naperville, Ill. — OfficeMax announced that is unveiling a new and improved version of its TUL branded dry erase markers.

TUL dry erase markers feature non-toxic ink formula with reduced odor, a rubberized grip, ergonomic square design, and built-in magnets compatible with magnetic dry-erase boards. The lineup also includes an eraser on the cap of each marker as well as a separate magnetic eraser.

EL SEGUNDO, Calif. -- The weak sales and profits reported Wednesday by West Coast sporting goods retailer Big 5 weren’t a surprise, as the company had warned Wall Street more than a month ago that financial results would be below expectations. 

New York City -- Target has partnered with two local developers to purchase a 7.9-acre United States Postal Service site in the Throgs Neck section of Bronx, N.Y., for $35.2 million, where they plan to build a 300,000-sq.-ft. mall, according to New York Read Estate News.

New York City -- Tiffany & Co. has named Frederic Cumenal as executive VP, effective March 10.

Cumenal, 51, will be responsible for the company’s businesses in Asia, Japan, Europe and Emerging Markets, and will report to chairman and CEO Michael J. Kowalski. He joins Tiffany from the LVMH Group where most recently he was president and CEO of Moët & Chandon, S.A.

By Fabrizio Brasca, [email protected]
 

New York City -- Retail sales in February rose in most categories ranging from clothing to furniture, despite winter storms and rising gas prices, MasterCard Advisors' SpendingPulse, which tracks spending in all forms including cash. While the increase maintains the positive performance that began in fall 2010. However, February’s year-over-year growth rates were smaller in most categories than those recorded in the November 2010 through January 2011 period.