eCommerce

Foothill Ranch, Calif. -- The Wet Seal reported Thursday that net income for the fourth quarter dropped to $1.1 million from $5.3 million a year earlier. Sales in the quarter followed the same downward trend, as net sales fell to $163.2 million from $165.5 million, and same-store sales declined 5.5%.

SEATTLE — REI (Recreational Equipment Inc.) announced that retail and outdoor industry veteran Eric Artz will join the company as chief financial officer in May. Artz comes to REI from Urban Outfitters.

Fort Worth, Texas -- RadioShack Corp. said Thursday it has made an agreement with Malaysian retail group Berjaya Retail Berhad that will expand RadioShack's global footprint across 10 Southeast Asian countries.

Under the long-term agreement, Berjaya Retail (Cayman) Limited as franchise developer is expected to open at least 1,000 franchise locations across the Association of Southeast Asia Nations within the first 10 years. Its subsidiary in Malaysia, Berjaya RS Sdn. Bhd., expects to open its first RadioShack locations later this year in Kuala Lumpur.

WAYNE, N.J. — The decision to open fewer Express stores during the 2011 holiday selling season, along with a decline in comparable-store sales both in the United States and internationally, contributed to Toys“R”Us's fourth-quarter net sales decline of $47 million to $5.9 billion. On a positive note, the company's new ventures in Greater China and Southeast Asia have offset the sales decline.

Dallas -- The Neiman Marcus Group said Thursday that it will invest $28 million in Glamour Sales Holding, a Shanghai-based e-commerce company, as part of its strategy to gain a foothold in the Asian e-commerce marketplace.

“We are taking this bold step to establish Neiman Marcus Group as an international brand,” said Karen Katz, president and CEO, Neiman Marcus Group.

Grapevine, Texas -- Video-game retailer GameStop Corp. reported Thursday that profit for the quarter ended Jan. 28 dropped 27% to $174.7 million, from $237.8 million in the year-ago period. Adjusted profit, however, matched predictions, as results included $64.6 million in asset impairment and restructuring charges.

Revenue fell 3.1% to $3.58 billion from $3.69 billion, missing Wall Street’s expected $3.69 billion in revenue. Same-store sales slipped 3.6%.

New York -- Kohl’s Department Stores announced plans to launch an exclusive American Idol apparel collection. The newly created line -- Authentic Icon (AI) -- will be available exclusively at Kohl’s and Kohls.com beginning in April.

Woonsocket, R.I. -- CVS/pharmacy is shuttering all of its Beauty 360 locations and ceasing operation of the Beauty 360 e-commerce business to focus on the growth of its core CVS/pharmacy beauty business, the retailer confirmed on Wednesday.

As of May 19, all 25 of the Beauty 360 locations will close and the e-commerce business will cease operation.