Retail

Irving, Texas -- Michaels Stores said its fourth-quarter profit rose 15%, boosted by higher sales.
   
For the three months ended Feb. 2, the company said net income rose to $112 million, up from $97 million in the year ago period.

Revenue rose 9% to $1.52 billion, helped by an extra week in the quarter. Same-store sales increased 1.7%, with a 2.3% increase in the average ticket.

For the year, net sales increased 15% to $4.41 billion. Net income totaled $214 million, up from $176 million in fiscal 2011.

Bolingbrook, Ill.  — Ulta Beauty has appointed Scott Settersten as CFO and assistant secretary, effective immediately. Settersten will report to Dennis Eck, interim CEO.

Settersten has been acting CFO and assistant secretary since October 2012. He joined Ulta Beauty in January 2005 as director of financial reporting.

Prior to joining Ulta Beauty, Settersten spent 15 years with PricewaterhouseCoopers as a certified public accountant serving in various senior manager roles in the assurance and risk management practices.

Miami Beach, Fla. -- Terranova Corp. announced that three new tenants will open at Shops at Marlins Park, a retail area at the entrance of the new Marlins Park in Miami’s Little Havana neighborhood.

Café Rubio Sports Bar & Restaurant, a Caribbean restaurant, has signed a 10-year, 3,200-sq.-ft. lease, with plans to open in mid-summer 2013. Subway has signed a 10-year lease for a 1,400-sq.-ft. restaurant also opening summer 2013.

Cigar shop 100 Fires will open a 625-sq.-ft. store in winter 2014.

Nokomis, Fla. -- The Sembler Co. announced that it is redeveloping the Nokomis Village Shopping Center, anchored by Publix and located in Nokomis, Sarasota County, Fla.
 
Publix will close on March 30, while other tenants including Anthony’s ladies apparel, Village Pharmacy, Ophelia’s Pasta restaurant, and Saltwater Café remain open during the construction of a new Publix store.

Chicago -- Despite all the headlines about Canadian and global growth, U.S. expansion remains a key growth strategy for retailers, according to a survey of 100 retail chief financial officers by BDO USA.  
   
In the seventh-annual BDO Retail Compass Survey of CFOs, 30% of the executives said U.S. expansion will be their priority growth tactic in 2013, followed by improving merchandise assortment (24%) and e-commerce and mobile commerce (22%).
   

New York -- Another day, another J.C. Penney story. Amid rumors that Penney chief executive Ron Johnson was stepping down, the chain flatly denied the allegations.

“Ron Johnson is not quitting or resigning from J.C. Penney and he has no plans to do so,” Joey Thomas, a Penney spokesman said in an e-mail reported by Bloomberg. “The rumors are false.”

Costco Wholesale Corp.’s winning streak continues as the chain reported a better-than-expected 39% increase in profits for its fiscal second quarter. Here is Planet Retail’s take on the company’s most recent performance and future prospects:
 

Boca Raton, Fla. -- Office Depot has been recognized with a Climate Leadership Goal Achievement Award for Excellence in Greenhouse Gas Management by the U.S. Environmental Protection Agency’s Center for Corporate Climate Leadership, the Association of Climate Change Officers the Center for Climate & Energy Solutions, and The Climate Registry.