Mass Merchant

New York -- Shopping center operator Kimco Realty Corp. has received a subpoena in an investigation over possible violations of the Foreign Corrupt Practices Act (FCPA) by Wal-Mart Stores, Reuters reported.

In a filing with the Securities and Exchange Commission (SEC), the Kimco said it had received the subpoena on Jan. 28 from the SEC’s Enforcement Division. Kimco said it would fully cooperate with the SEC, and that the Department of Justice was conducting a "parallel investigation" with the SEC, according to the report.

Amazon lead the pack in the retail field on Fortune’s “Most Admired Companies” list. The e-commerce juggernaut was third ranked overall (behind Apple and Google) for, among other reasons, its efficient customer service and leadership under CEO Jeff Bezos.

Nordstrom captured the number 16 spot for generating buzz for its first full-line retail store in Manhattan, well before its planned open date in 2018 and for its successful clearance brand, Nordstrom Rack.

MINNEAPOLIS — Start-up expenses and other costs related to its Canadian entry reduced Target's earnings per share for the fourth quarter by approximately 18 cents.

The company reported fourth quarter net earnings of $961 million, or $1.47 per share, compared with $1.45 per share for the same period last year. Adjusted earnings per share, a measure the company believes is useful in providing period-to-period comparisons of the results of its U.S. operations, were $1.65 in fourth quarter 2012, up 10.1% from $1.49 in 2011.

Chicago -- Englewood Construction announced Wednesday that its retail group has begun work on four new projects, including three in the Chicago market and one in Columbus, Ohio.
 

Kapolei, Hawaii -- Wal-Mart Stores Inc. announced Wednesday that, together with SunEdison, it has completed new solar power installations at three Walmart stores in Kahului, Kailua-Kona and Kapolei, Hawaii, doubling the total number of stores in Hawaii powered by renewable solar energy.

The installations contribute to Wal-Mart’s objective of being supplied 100% by renewable energy. Similar installations are already in operation atop the Honolulu Sam's Club and Mililani Walmart on Oahu, and the Lihue Walmart on Kauai.

CHESAPEAKE, Va. — Dollar Tree reported that consolidated net sales for the fourth quarter were $2.25 billion, a 15.4% increase compared with $1.95 billion reported for the quarter ended Jan. 28, 2012. Comparable-store sales increased 2.4%, on top of a 7.3% increase for the fourth quarter 2011.

Earnings per diluted share for the fourth quarter were $1.01, an increase of 26.3% compared with the 80 cents earnings per diluted share reported for the fourth quarter 2011.

Minneapolis -- Target Corp. reported Wednesday a profit of $961 million for the fourth quarter, down from $981 million in the year-ago period. The profit slip reflected expenses related to its Canadian market entry along with a spending slowdown during the holiday sales period. It was Target's weakest holiday season performance since 2008. But its adjusted results beat analysts' estimates and it forecast first-quarter earnings above Wall Street's view.

Toronto -- Sears Canada Inc. reported Wednesday that profit for the fourth quarter dipped 3% to $38.8 million on weakened hardware and electronics sales.

Revenue fell 5% to$1.25 billion in the period, and same-store sales dropped 3.8%.

Parent Sears Holdings Corp., which cut its stake in Sears Canada from 90% to 51% last year, said in January that Sears Canada's fourth quarter adjusted earnings would fall by about half.