Retail

Topeka, Kan. -- Collective Brands, the parent company of Payless ShoeSource, said Wednesday that its net loss narrowed slightly in the fourth quarter as sales improved in its wholesale unit. The performance beat Wall Street expectations.

For the three months ended Jan. 29, Collective Brands lost $10.1 million, compared with a loss of $10.9 million in the year-ago period.

Walmat’s efforts to penetrate to New York have been the focus of considerable media attention the past few years so it is somewhat strange to find no mention of the company in a report out this week on commercial real estate trends.

Laura Pomerantz, a principal with the New York-based commercial real estate firm of PBS Real Estate noted that “2011 will see big changes on the streets of Manhattan. New and unexpected retailers are transforming shopping dynamics from Madison and Fifth Avenue to Times Square and the Upper West Side.”

New York City -- Some landlords, vendors and other unsecured creditors of Blockbuster are objecting to Blockbuster's plan to sell itself because they fear they won't be paid what they are owed, according to the Associated Press.

A hearing to approve the stalking horse bid and auction was originally scheduled for Wednesday, but was postponed late Tuesday until March 10 while the judge considers the objections.

The March issue of Fortune contains the magazine’s annual ranking of the most admired companies and this year’s list shows Walmart slipped two spots from the prior year and now occupies the 11 position.

Skokie, Ill. -- Westfield Old Orchard, an outdoor destination located in Skokie (Chicago), Ill., announced that The Body Shop will rejoin the center in spring 2011 with a 765-sq.-ft. store near Lord & Taylor. Galt Toys will open a 3,400-sq.-ft. store, also slated for a spring 2011 opening, as is Vera Bradley -- with a 1,650-sq.-ft. boutique.

FORT WORTH, Texas -- Pier 1 Imports reported significant gains in fourth-quarter and full-year comps due to increases in average ticket, conversion and traffic. 

The company reported that comparable-store sales for the fourth quarter ended Feb. 26 increased 8.9% compared with last year’s comparable-store sales increase of 6.5% for the fourth quarter ended Feb. 27, 2010. Total sales for the quarter improved to $427 million compared with  $396 million in the year-ago quarter. 

Thanks to the Internet, a lot of what passes for news these days is a report based on a report based on a report with few if any filters in place to verify the accuracy of information. With that qualification in mind, Bloomberg this week reported that Walmart’s market share in China declined to 7.5% in the fourth quarter of 2010 compared to 8.2% in the second quarter. The news agency said its report was based on a report in the English language Shanghai Daily newspaper whose report was based on a report from a market research company identified as CTR.

Albany, N.Y. -- Trans World Entertainment said that net income for the fourth quarter rose to $12.4 million $11.4 million as it continued to cut costs by closing more of its f.y.e. (For Your Entertainment) stores.

Total sales for the quarter fell 22%, to $231.2 million. Same-store sales fell 6%.

For fiscal 2010, Trans World posted its fourth consecutive annual net loss. The net loss for the year was $31 million, compared with a net loss of $42.4 million in fiscal 2009.