News

ANAHEIM, Calif. — Pacific Sunwear of California announced that net sales from continuing operations for the fourth quarter of fiscal 2012 ended Feb. 2, were $228 million versus net sales from continuing operations of $218.7 million for the fourth quarter of fiscal 2011 ended Jan. 28, 2012.

Comparable-store sales for the fourth quarter of 2012 increased 1%.  

The company ended fiscal 2012 with 644 stores, compared with 733 as of the end of fiscal 2011. The company closed 78 stores in the fourth quarter of fiscal 2012.

WASHINGTON — Walgreens this week opened the doors to its latest flagship location in the nation's capital, bringing to District of Columbia residents and commuters the kind of retail pharmacy theater already familiar with citizens of New York, Chicago and Los Angeles. 

New York -- Supervalu on Thursday announced the completion of the sale of its Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market stores and related Osco and Sav-on in-store pharmacies to AB Acquisition LLC, an affiliate of a Cerberus Capital Management-led investor consortium. The stock deal is valued at $3.3 billion, including $100 million in cash and $3.2 billion in debt assumption.

NEW YORK — According to Capital Business Credit's quarterly Global Retail Manufacturers and Importers Survey, 50% of importers of retail goods are experiencing an increase in orders this spring as compared to last year, while 50% are experiencing a decrease or no change from the previous year. Of those surveyed who are having a stronger spring, the majority are experiencing growth between three and 10%.

Pleasanton, Calif. -- Ross Stores Inc. said Thursday its fourth-quarter net income rose 23%, in line with analysts’ projections. The off-price retailer also announced that beginning with the second quarter of fiscal 2013 it will no longer report monthly sales. Instead, quarterly same-store store sales results will be provided with regularly scheduled earnings releases.
 

CINCINNATI — Macy’s announced that it will expand its online order fulfillment center in Goodyear, Ariz., to accommodate continued sales growth as part of the company’s omnichannel strategy. The company is expected to invest more than $35 million in capital in the project.

Off price retailer Ross Stores achieved record fourth quarter sales and earnings and expects to deliver more of the same in 2013 thanks to an unwavering commitment to offering great bargains.

Sales for the 14 week fourth quarter ended February 2, increased 15% to $2.76 billion when compared to the prior year’s 13 week fourth quarter. Same store sales advanced 5% on top of a prior year gain of 7%. Earnings per share for the period increased to $1.07 from 85 cents last year and net income grew to $236.6 million from $192 million.

WESTLAKE VILLAGE, Calif. — Music retailer, Guitar Center, has announced that Mike Pratt has been appointed CEO and a member of the company's board of directors effective April 1. Pratt succeeds Marty Hanaka, the company's Interim CEO, who will remain on the board and assist in the transition.