News

Publix continues to be a blockbuster in its industry, as the grocery chain posted a 7.4% increase in profits in the fourth quarter.

The Florida-based retailer reported a profit of $453.3 million in the fourth quarter, compared to $422 million in 2013. Earnings per share for the fourth quarter increased to $0.58 for 2014, up from $0.54 per share in 2013. Publix reported net sales of $7.9 billion; same store sales increased 6.4%.

Publix continues to be a blockbuster in its industry, as the grocery chain posted a 7.4% increase in profits in the fourth quarter.

The Florida-based retailer reported a profit of $453.3 million in the fourth quarter, compared to $422 million in 2013. Earnings per share for the fourth quarter increased to $0.58 for 2014, up from $0.54 per share in 2013. Publix reported net sales of $7.9 billion; same store sales increased 6.4%.

Samsung Electronics Co. has thrown another hat into the mobile payment ring with its recent smartphone launch.

The company has unveiled two new flagship Galaxy smartphones and a mobile payments system in partnership with MasterCard. The new Samsung Pay will enable MasterCard cardholders to use their new Samsung Galaxy S6 phones for everyday in-store purchases. (Both phones will ship with the technology built-in.)

When Lumber Liquidators executives talked about earnings in a conference call last week, they alluded to an upcoming "60 Minutes" investigation of the company's business practices. Turns out, the CBS report was a lot more damning than some analysts expected.

The company's shares tumbled drastically on Monday, with the stock price falling more than 24%.

Ace Hardware is taking an omnichannel approach to paint promotions with a new “31 Days of Color” campaign.

The Oak Brook, Ill.-based co-op has launched a customization-focused paint experience that allows customers on acehardware.com, on social media and in-store to be inspired with new paint colors and renovate.

Columbia Sportswear Co. is re-aligning its executive ranks in order to drive sustainable and profitable growth.

“Strong momentum behind each of our largest brands drove our global net sales to more than $2.1 billion in 2014 and is expected to fuel continued double-digit currency-neutral growth in 2015,” Chief Executive Officer Tim Boyle said. “The leadership changes that we are announcing today are intended to position us to secure the significant global growth potential that we believe exists within each of the brands in our portfolio.”

Palo Alto, Calif. - Global information company The NPD Group has partnered with Slice Intelligence to provide comprehensive, retailer-independent e-commerce data available. For the first time, NPD will offer comprehensive, cross-retailer e-commerce data that is directly measured from e-receipts from Slice’s panel of two million consumers.

The data will be classified using NPD’s industry-standard product dictionaries, and validated by NPD’s benchmark databases.

New York – A state appeals court in New York has revived two claims Macy’s Inc. made against J.C. Penney Co. Inc. in a long-running dispute between the two department store chains about who has the right to sell Martha Stewart Living home products.   

 According to Reuters, in a unanimous decision, judges in the Manhattan Appellate Division ruled that Penney breached confidentiality provisions of Macy’s contract with Martha Stewart Living Omnimedia and Penney’s actions amounted to unfair competition.

Dublin, Calif. – Costs and expenses did not grow at the same rate as sales during the fourth quarter of fiscal 2014 at Ross Stores Inc., resulting in significant net income growth compared to the prior year period. Ross Stores’ net earnings grew 14% to $248.53 million, from $217.95 million.

Sales climbed 10% to $3.03 billion, from $2.74 billion. Same-store sales rose 6%.

San Antonio, Texas – Net income soared on rising margins in fuel and consumer packaged goods at convenience/fuel retailer CST Brands Inc. in the fourth quarter of fiscal 2014. Net income rose 176% to $94 million from $34 million in the same quarter a year earlier.

Revenues dropped 13% to $2.7 billion from $3.06 billion. For the full fiscal year, net income rose 44% to $200 million from $139 million. Revenues fell 4% to $12.18 billion from $12.78 billion.