Retail

Chicago -- Shoppers will reduce the number of channels they visit and remain intensely focused on value in 2013, according to the latest research from SymphonyIRI Group.

According to Symphony’s “2012 CPG Year in Review: Finding the New Normal,” consumers are still attempting to ease budgetary strains and are embracing a wide variety of money-saving strategies.

Mooresville, N.C. -- Lowe's Co. reported fourth quarter profits that topped Wall Street estimates, helped rebuilding efforts in the wake of Hurricane Sandy and general remodeling activity. The retailer also said it authorized a new $5 billion share buyback program that it expects to use in the next two year

Dublin, Calif. -- Epicor Software Corp. announced that Home Hardware Center, part of Central Network Retail Group, completed its integration of Epicor  Eagle in February 2013. It is Epicor’s first major installation of Epicor Eagle delivered in a software as a service (SaaS) hosted environment.

Canton, Mass. -- Casual Male Retail Group will formally change its corporate name to Destination XL Group, Inc. to reflect the company's transition to its Destination XL format stores and DestinationXL.com e-commerce site. The name change will be effective as of Feb. 25.
   
As previously announced, the company's ticker symbol was changed to "DXLG" effective Dec. 5, 2012.
 

New York -- On the heels of a strong performance in 2012 that included a 7.3% same-store sales increase, Nordstrom Inc. is investing heavily in its future. Two big areas of investment: online and expansion of the Nordstrom Rack outlet division, both in the United States and in Canada.
 
“Rack, direct and Canada will make up approximately half of our sales in the next five years,” Blake Nordstrom, president, Nordstrom Inc., said during the company’s quarterly conference call.  
   

Deerfield, Ill. — Walgreens on Friday will open the doors to Walgreens University, an internal education center with technology-enhanced classrooms, a mock drug store and video-conferencing capabilities. The new learning center will be the base of operations for employee educational programs offered online and in regional locations nationwide.

New Albany, Ohio -- Abercrombie & Fitch Co.’s net income rose to $157.2 million for the fourth quarter, compared with $45.8 million a year earlier for a 13-week period. The chain said its net income was calculated using a new system for valuing inventory
 
Sales rose 11% to $1.47 billion for the 14 weeks ended Feb. 2, led by a 34% rise in international sales. (The period, however, includes an extra week compared to year earlier.)

Salt Lake City -- Overstock.com said Friday it has named Stormy Simon and David Nielsen as co-presidents of the company.

Simon was previously SVP over customer and partner care and, with the promotion, will add oversight of warehouse logistics, press relations, social media and strategic marketing.  
 
Nielsen, promoted from SVP merchandising and supply chain, will add oversight of international sales, talent management and information technology.