News

New Albany, Ohio -- Abercrombie & Fitch Co.'s fiscal fourth-quarter net income nearly doubled on strong sales overseas and better U.S. results. The retailer reported net income of $92.6 million, up from $47.5 million a year ago.

Revenue for the period ended Jan. 29 rose 23% to $1.15 billion, from $936 million. Domestic revenue rose 13%, while international revenue jumped 61%.

Same-store sales rose 13%.

NEW YORK -- The Jones Group Inc. announced that it has appointed Sally Ross EVP merchandising for Nine West Direct, effective immediately. Ross' focus will be on leading the merchandise initiatives for Nine West Retail, Nine West Outlet and NineWest.com, and she will report directly to Ron Offir, President, Jones Direct Group, the company reported.

New York City -- Only 7% of executives believe their companies are extremely or very prepared to comply with new lease accounting standards proposed by the Financial Accounting Standards Board (FASB), according to a recent Deloitte survey.

Mahwah, N.J. -- Jeweler Bailey Banks & Biddle said Tuesday it has joined TD Retail Card Services’ L.J.C. private-label credit-card program. 

Under the agreement, TD Bank, N.A. will direct the L.J.C. program, which features a revolving private-label credit card created specifically for independent and small-chain retailers of jewelry and other luxury items. Cardholders can avail themselves of a number of special financing options, including multiple deferred interest and equal payment promotions.

CHICAGO — Walgreens last month promoted Mia Scholz from corporate VP accounting and controller to SVP accounting and controller. She joined Walgreens in 1999 as director of internal audit. She was named a divisional VP in 2003, and promoted to corporate VP accounting and controller in 2007.

Before joining Walgreens, Scholz was a senior manager for Arthur Andersen LLP in Chicago.

She received a bachelor’s degree in accounting from Miami University in Oxford, Ohio, in 1988.

New York City -- A&P plans to close 32 stores in six states, including four in the New York City area, Crain’s New York reported.

Among the stores slated to close are 14 Pathmarks, seven Super Fresh shops, four A&Ps and three Waldbaums, according to the report.

A&P operates 395 stores in eight states and the District of Columbia under the banners A&P, Waldbaum's, Pathmark, Best Cellars, The Food Emporium, Super Fresh and Food Basics. The company filed for Chapter 11 bankruptcy in December.

JACKSONVILLE, Fla. — Operations at Winn-Dixie Stores continued to improve across the second quarter, helping to drive shares up by 11 cents to $6.92 per share in mid-day trading.

“Overall I feel good about our progress this quarter,” Peter Lynch, Winn-Dixie chairman, CEO and president, told analysts Tuesday morning during a conference call. “[We] continued to improve sales through strategic adjustments to our promotional activity.”

ATLANTA -- The Home Depot announced it will hire more than 60,000 seasonal associates in time for its second annual Spring Black Friday event.

Like the traditional Black Friday that occurs the day after Thanksgiving to unofficially start the holiday shopping season, The Home Depot's Spring Black Friday marks the start of home improvement's busiest shopping season -- the spring.