Retail

Walmart knew fourth quarter results announced Thursday morning were going to be bad and its outlook weak so it gave investors something more substantial to digest by announcing plans to double the number of small format stores it will open this year and an increased omnichannel focus.

Vertical footwear retailer Keds is launching an omnichannel marketing campaign called the “Keds Brave Life Project.” The campaign is aimed at encouraging positive development of girls and young women.

A week after rival Home Depot announced plans to 80,000 seasonal spring employees, Lowe’s announced its plans to hire approximately 25,000 seasonal employees at its U.S. stores for the busy spring season.

Seasonal jobs available are focused on customer support and include cashiers, lawn and garden employees, loaders and stockers.

Ace Hardware’s unique value proposition allowed it to withstand strong competition from Home Depot and Lowe’s in 2013 and grow annual sales by a 8.2% to a record $4.2 billion.

“We outperformed our operating plan, exceeding $4 billion in consolidated revenues and $100 million in net income for the first time in our history,” said president and CEO John Venhuizen.

Net income was $104.5 million for fiscal 2013, an increase of $22.7 million, or 27.8%, compared with $81.8 million in fiscal 2012.

Safeway has confirmed that it is in discussions concerning a possible transaction involving the sale of the company. However, the company declined to comment further at this time.

"Although the discussions are ongoing, the company has not reached an agreement on a transaction, and there can be no assurance that these discussions will lead to an agreement or a completed transaction," Safeway stated as part of its earnings release.

GENCO, a product lifecycle logistics solutions company, has promoted Mike Simpson to president of GENCO’s retail logistics business unit and Tom Perry to chief technology officer.

A highly fragmented market and inconsistent customer demand — thanks, in large part, to inclement weather — were not enough to dampen Lumber Liquidators’ results in the fourth quarter.

The company achieved record highs for net sales and operating margin and continues to gain further traction in its key, multi-year strategic initiatives.

For the quarter, net income increased 50.6% to $20.8 million, from $13.8 million in the fourth quarter of the prior year.

Foot Locker has elected Steven Oakland, president of international, foodservice and natural foods at the J.M. Smucker Company, as a director of the company.

Oakland has spent the bulk of his career at J.M. Smucker serving in increasingly senior positions. He has experience in domestic and international retail operations at the company, having also served as president of U.S. retail for Smucker's, Jif and Hungry Jack, and as GM of its Canadian operations.