News

Columbus, Ohio -- DSW Inc. experienced drops in both net income and same-store sales for the first quarter of fiscal 2013. Net income declined about 13%, dropping to $34.5 million from $39.9 million in the year-ago period, amid hefty one-time charges. Its results, however, beat analyst expectations.

For the quarter ended May 4, same-store sales declined 2.4%. In one bright spot, sales rose almost 8% to $601.4 million, from $558.6 million.

NEW YORK — Foot Locker has appointed former PepsiCo human resources executive Paulette Alviti as the company’s SVP and chief human resources officer. 

Alviti has an extensive background in human resources, both domestically and internationally, with experience in organizational capability and training, talent acquisition and development, employee engagement and communications for the corporate office and field organization.

FORT MYERS, Fla. — Chico FAS's comparable sales for the first quarter ended May 4 were flat compared to a nearly 10% increase in last year's first quarter, thanks to an unusually cool spring and the cycling of strong comparable sales last year.

Jacksonville, Fla. -- Bi-Lo Holdings, parent company of the Bi-Lo and Winn-Dixie grocery store brands, has entered into an agreement to buy three chains from Belgium-based Delhaize Group. Bi-Lo said it would acquire substantially all of the stores in the Sweetbay, Harveys and Reid’s supermarket chains from Delhaize for $265 million in cash.

MERRIMACK, N.H. — Brookstone, a multichannel specialty retailer, has appointed J.W. Childs executive William E. Watts as its new executive chairman of board.

HOFFMAN ESTATES, Ill. — Sears Holding Corp. reported a bigger-than-expected net loss of $279 million for the first quarter of fiscal 2013, compared to net income of $189 million in the first quarter of fiscal 2012. 

The retailer also said that it is considering selling its protection-agreement business in an ongoing effort to raise cash as it struggles to improve its profits.

New Albany, Ohio -- Abercrombie & Fitch shrunk its net loss during the first quarter of 2013 but still reported thin financial results. Net loss for the quarter was $7.2 million, compared to $21.3 million during the first quarter of 2012. The results missed analysts’ estimates.

Net sales dropped 9% from $921.2 million to $838.8 million. Same-store sales plummeted 17%. Direct-to-consumer sales fell 6%. U.S. same-store sales fell 14%; international comparable sales were down 16%.