News

Wayne, N.J. -- Toys “R” Us on Friday reported that its sales and profits declined in the fourth quarter and the full year. The company also revealed in a regulatory filing with the U.S. Securities and Exchange Commission that it is withdrawing its plan to go public, blaming “unfavorable market conditions” and its “executive leadership transition” for the decision.  

Seattle -- Amazon.com announced that it has agreed to acquire social site Goodreads, an online book recommendation community that has more than 16 millions around the globe. The financial terms of the deal, which enhances Amazon's already significant clout in the book publishing world, were not disclosed.

New York -- British grocery giant Tesco is moving closer to selling off its U.S. Fresh & Easy division, with Tesco CEO Philip Clarke traveling to the United States next week to try and strike a deal, according to a report in the British newspaper, The Telegraph.

Tesco has held discussions with Trader Joe’s and others about selling Fresh & Easy, but a break-up of the business is considered the most likely option, the report said. Other options include closing the business and selling off assets.

New York -- Consumer spending increased in February by the most in five months as incomes rose and the job market improved.

The Commerce Department said on Friday consumer spending rose 0.7% last month, after an upwardly revised increase from 0.2% to 0.4% in January.  

WAYNE, N.J. — Babies"R"Us has partnered with WhatToExpect.com to provide expectant moms access to their combined content and retail resources. As part of this collaboration, the Babies"R"Us Registry is now available on WhatToExpect.com. Additionally, the retailer plans to feature content from WhatToExpect.com through various Babies"R"Us channels. 

GRAPEVINE, Texas — GameStop reported that total global sales for the fourth quarter of 2012 were $3.56 billion compared with $3.58 billion in the prior year quarter. Consolidated comparable-store sales decreased 4.6% compared with the prior year quarter. 

MEMPHIS, Tenn. — Fred's total sales for the 53-week fiscal 2012 increased 4% to $2 billion from $1.9 billion for the same period last year. Comparable store sales increased 1.1%. Excluding the effect of the extra week in the current year, fiscal 2012 comparable store sales for the year decreased 1.4% from the year-earlier period. 

NEW YORK — Harris Interactive has revealed the brands that Americans rank highest in brand equity. Surveying more than 38,000 American consumers, it measures the level of quality, familiarity, and purchase consideration for each brand, and then awards "Brand of the Year" status to the top-ranked brand from each category.

AVON, Ohio — Duck Tape, a product of ShurTech Brands, announced today a new Duck Tape print featuring the pop music group One Direction.

ATLANTA — Newell Rubbermaid announced plans to open a new design center by early 2014 in Kalamazoo, Mich. This will enable Newell Rubbermaid to add depth in new design specialties, join a strong local presence of design-led companies including Herman Miller , Steelcase, Whirlpool, Stryker and Wolverine, as well as participate in a growing educational community that includes Western Michigan University.