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American Eagle earnings up, CEO to retire
New York -- American Eagle Outfitters Inc. officially announced the retirement of its chief executive officer. The chain, which has seen its seen sales falter of late, also posted a 47% rise in profits for the fourth quarter on cost-cutting.
American Eagle said its CEO James O'Donnell, 70, will stay with the retailer until a successor is chosen and will work through the transition period. O'Donnell started with American Eagle as its COO in 2000. He became co-CEO in 2002 and CEO in 2003.
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Kitchens and gardens shine at Home Depot
ATLANTA -- Home Depot's fourth quarter saw positive comp-store sales for the fifth straight period. Kitchens and gardens were among the highest-performing categories.
According to Home Depot's Craig Menear, EVP merchandising, the departments that outperformed the company average were kitchens, outdoor garden, indoor garden, electrical and tools.
Comparable-store sales for the company increased 3.9% for the three months ended Jan. 30. For stores in the United States, comp sales were positive 4.8%.