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  • Retail sales fall 0.4% in March

    New York - U.S. retail sales fell 0.4% in March, the biggest decrease in nine months, amid a slowdown in hiring and higher taxes. Excluding sales of autos, gas and building materials, core sales dropped 0.2% in March, following a 0.3% increase in January.

  • The Bon-Ton Stores to close Michigan furniture gallery

    York, Pa. -- The Bon-Ton Stores will close its Younkers Furniture Gallery in the Lakeshore Marketplace in Muskegon, Mich., in June. The closing will affect approximately 20 associates at the location.

    The Bon-Ton acquired the leasehold interests in the Muskegon Furniture Gallery store when it acquired Elder-Beerman in 2003. Bon-Ton does not expect the furniture gallery’s close to affect operations at the Younkers department store located in The Lakes Mall.

  • Pier 1 Q4 profit down 46% without last year’s tax benefit

    Fort Worth, Texas -- Pier 1's fourth-quarter earnings fell 46% compared with last year, when the chain recorded a large, one-time tax benefit.

    The company earned $61.7 million in the three months that ended March 2, compared with $115.2 million in last year's quarter. Revenue rose 16% to $551.6 million. Same-store sales climbed 7.9%.

    For the full year, Pier 1 earned $129.4 million on $1.7 billion in revenue.

    For its current fiscal year, the chain expects to open 30 stores.

  • Judge won’t dismiss Macy’s claim against Martha Stewart

    New York -- New York State Supreme Court Justice Jeffrey Oing on Thursday refused to dismiss Macy's Inc's claim that Martha Stewart Living Omnimedia violated its contract when it designed certain merchandise for J.C. Penney Co., regardless of whether the items carry the Martha Stewart brand.

  • Bed Bath & Beyond Q4 and full-year profit rises

    Union, N.J. -- Bed Bath & Beyond Inc. reported Wednesday that net income for the quarter ended March 2 increased 14% to $373.9 million, compared with $351 million in the year-ago period. But the retailer’s guidance for the current quarter came up short.

    Sales leaped 24.5% to $3.401 billion, from $2.732 billion, and same-store sales rose 2.5%.

    For the fiscal year, net earnings rose 12% to $1.038 billion), from $989.5 million. Full-year revenue rose 14.9% to $10.915 billion, and same-store sales for fiscal 2012 increased 2.7%.

  • Co-Innovation is the Key

    By Mark Ledbetter, [email protected]

    There's a season for everything, and that's no less true for retailers. Merchants have historically enjoyed a central position in the retail universe, driving everything from pricing to availability. How quickly things have changed. Today, try telling a 19-year-old that she can't get a discount on the slightly frayed jeans she found on the discount rack. She'll buy a similar pair online and Tweet about it so fast, it will make your head spin!

  • American Eagle Outfitters names former Guess exec as Asia Pacific head

    Pittsburgh -- American Eagle Outfitters said Wednesday it has named Kitty Yung to the position of EVP/president of Asia Pacific, charged with supporting the chain’s global geographic and channel growth “while aligning with our strategic plan of fortifying core assets, growing North America and transforming to a global omni-channel competitor …,” said Robert Hanson, CEO.

  • Report: Ackman sticking with J.C. Penney

    New York -- A Wednesday report by Women’s Wear Daily quoted activist investor Bill Ackman, whose Pershing Square Capital Management is the largest shareholder of J.C. Penney Co., as saying that he won’t abandon the retailer following this week’s CEO shake-up.

    "We are not going anywhere," Ackman told WWD in his first public comments since Ron Johnson was fired as CEO on Monday. "In fact, we're going the other direction. We're digging in."

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