Supply Chain & Merchandising

Secaucus, N.J. — The Children's Place Retail Stores Inc. said Wednesday its profit fell nearly 6% in the fourth quarter, but results topped expectations as the company cut costs.

The retailer said its net income fell to $32.1 million in the three months ended Jan. 29, down from $34.1 million year ago. Revenue fell 2% to $453.2 million from $462.8 million in the prior-year period. Same-store sales fell 5.9%.

LA JOLLA, Calif. — Kashi announced the launch of its berry blossoms cereal and cherry vanilla cereal bars.

The company said its berry blossoms cereal features pillow-shaped graham cereal squares made with seven whole grains and tossed with a tasty blend of real fruit, including strawberries, blackberries and blueberries.

PLEASANTON, Calif. — Safeway on Tuesday said that it expects to earn $1.60 to $1.80 per diluted share during the quarter, after the company's board approved a $1.1 billion dividend from Canada to the United States.

 The dividend, Safeway said during its 2011 investor conference, will be used to pay off $600 million of U.S. debt, and the company will use the remainder of the dividend for share repurchases.

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. 

New York — Walmart will next week start building its first smaller-format Express stores, according to building permits obtained by Bloomberg News.

The chain will begin construction March 16 on a 14,400-sq.-ft. store in Gentry, Ark., which is about 20 miles from the company’s Bentonville headquarters, according to the permits.

BOCA RATON, Fla. -- The South Florida Business Journal  reported Tuesday that Office Depot has dismissed David Grove, SVP contract sales for the company. 

According to the report, Grove's termination was unrelated to company operations, citing an Office Depot statement. Grove joined the company just 14 months ago.

Before joining Office Depot, Grove served in various roles in the office products field including president business interiors at Corporate Express and director of business development at United Stationers.

EL SEGUNDO, Calif. -- Fresh & Easy Neighborhood Market has announced the availability of 27 new exclusive California wines. The new wines, which the company said are sourced from some of the finest vineyards in California's premium wine growing regions, are broken into seven new lines and retail from $3.99 to $19.99.

New York City -- Aeropostale announced that it has signed a licensing agreement with Montreal PTE Ltd., a joint venture between Apparel Group LLC and Jay Gee Melwani Group, to open approximately 25 stores across Singapore, Malaysia, and Indonesia, over the next five years.

The first store is scheduled to open in Singapore later this year.