Sales & Marketing

A little more than a week after Signet Jewelers said it plans to acquire all of the issued and outstanding stock of Zale for $21 per share in cash consideration, Zale reported net earnings of $51 million in the second quarter, a 10% increase from $41 million in the prior-year period.

Same-store sales increased 1.9%, but revenues slipped 2% to $656 million from $671 million.

Sears Holdings late Friday issued a statement confirming that the company is investigating whether it was the victim of a security breach.

"There have been rumors and reports throughout the retail industry of security incidents at various retailers and we are actively reviewing our systems to determine if we have been a victim of a breach," read the statement. "We have found no information based on our review of our systems to date indicating a breach."

Procter & Gamble's Orgullosa program — a platform created in 2011 to celebrate, empower and fuel Latinas’ accomplishments and dreams — unveiled its Nueva Latina campaign. The campaign is a first-of-its-kind initiative designed to empower women to define what it means to be a bicultural, modern Latina.

Hampstead, Md. – Goldman-Sachs Group, sole underwriter of a $400 million bridge loan supporting Jos. A. Bank’s tentative acquisition of Eddie Bauer, is reportedly postponing the loan. According to the Wall Street Journal, Goldman Sachs had previously set a Feb. 27, 2014 deadline for investors to commit to purchasing portions of the loan, and has not yet set a new deadline.

Best Buy saw revenues slip in the fourth quarter and fiscal 2013, thanks in part to declining retail traffic fueled by a shorter holiday shopping season and severe winter weather. But all was not bad news for the retailer, which was able to profit from its Renew Blue cost reduction program.

During the fourth quarter, Best Buy reported net earnings of $311 million, a notable improvement from its $460 million net loss a year earlier. For the fiscal year, Best Buy reported net earnings of $523 million, compared to a net loss of $233 million the prior fiscal year.

Cleveland – American Greetings is offering the iPad Creatacard app that provides children with virtual tools like crayons, paint, stickers, stamps and chalk to create personalized greeting cards. Kids can also add their own photos and enhance them with frames, as well as virtually sign the cards.

Each design can be printed as a paper greeting card and shipped anywhere in the world by American Greetings for $3.49. Cards can be tracked online from creation at the American Greetings factory all the way through the post office and delivery.

Fort Myers, Fla. – Chico’s FAS’ profit was down sharply in the fourth quarter.

The retailer reported adjusted net income of $5.9 million for the quarter, ended Feb. 1, down from $32.7 million a year ago. The adjusted results exclude the impact of tax charges related to its purchase of Boston Proper, and other acquisition costs.

Minneapolis – Best Buy’s “Renew Blue” cost reduction program appears to be succeeding, as the retailer reported profit instead of loss during the fourth quarter and fiscal year 2013. The improvements came even as revenues in both periods declined compared to the same periods a year earlier.

During the fourth quarter, Best Buy reported net earnings of $311 million, a substantial improvement from its $460 million net loss a year earlier and above Wall Street projections.