eCommerce

San Francisco -- Gap Inc. reported Thursday that net income for the fourth quarter plummeted 40% on higher costs and aggressive discounting during the holiday selling season.

Net income for the quarter ended Jan. 28 was $218 million, compared with $365 million a year earlier. Sales dipped to $4.28 billion in the quarter, from $4.36 billion, matching Wall Street estimates.

MENOMONEE FALLS, Wis. — While Kohl's may have reported decreases in both sales and net income for its fourth quarter, fiscal 2011 proved to be another profitable year for the retailer.

The company reported fourth quarter diluted earnings per share increased 9% to $1.81. However, net income for the quarter decreased 8% to $455 million, compared with $494 million ($1.66 per diluted share) a year ago. Net sales for the quarter fell 0.3% to $6 billion, while comparable-store sales decreased 2.1%.

By Dave Spargo, [email protected]

Naperville, Ill. -- OfficeMax Inc. reported Thursday that net income for the quarter ended Dec. 31 dropped to $2.9 million, from $32.8 million a year earlier.

Sales edged up 3.9% to $1.8 billion in the quarter, but dipped 0.4% to $7.1 billion for the full year. Profit for the year was $32.8 million.

San Francisco -- Gap Inc. has named Jill Stanton to the newly-created role as creative advisor for Old Navy, and Liz Meltzer as senior VP of Gap International Merchandising.

Stanton will work with the Old Navy design and merchandising teams to provide a fresh perspective and insights to the brand. Her career spans more than 25 years in apparel retail, starting with global retailers Next and Marks and Spencer. She also has more than a decade of experience with Nike, ultimately serving as VP global apparel.

Birmingham, Ala. -- Bayer Properties announced that Jay Wiseman has been named VP of acquisitions for the company.

Wiseman was previously with CBL & Associates Properties, Chattanooga, Tenn., where his responsibilities included acquisition of malls, strip centers and office buildings nationwide. He also sourced international investments and established investment platforms in Brazil and China.
 

SAN FRANCISCO — Gap Inc. has named Jill Stanton to the newly-created role as creative advisor for Old Navy and Liz Meltzer as SVP Gap international merchandising.

“Boosting our already-strong creative talent is a key focus in 2012,” said Glenn Murphy, chairman and CEO of Gap Inc. “On the heels of Tracy Gardner coming back to Gap, we are thrilled that Jill Stanton will bring her talent and proven business experience as creative advisor to Old Navy to help us deliver consistently great product.”

Woodland Hills, Calif. -- Kuwait-based trading and contracting company The Standard Arabian Business & Enterprises Co., which represents Casual Male, said Thursday it will use Great American Group GA Store Opening Services program for a retail location in Kuwait.

The Sabeco project represents the first time Great American Group's new Store Opening Services have been used outside the United States.