News

New York -- Another day, another J.C. Penney story. Amid rumors that Penney chief executive Ron Johnson was stepping down, the chain flatly denied the allegations.

“Ron Johnson is not quitting or resigning from J.C. Penney and he has no plans to do so,” Joey Thomas, a Penney spokesman said in an e-mail reported by Bloomberg. “The rumors are false.”

York, Pa. -- The Bon-Ton Stores reported better-then-expected fourth quarter net income of $74.4 million, compared with $78.2 million in the year-ago period.

Revenue for the three months ended Feb. 2 increased 3.2% to $1.02 billion, missing the Street’s view of $1.04 billion. Same-store sales increased 1%. (Results for the fourth quarter and fiscal 2012 are impacted by the inclusion of an additional week in each period, resulting in a 14-week and 53-week reporting period.)

Chicago -- Despite all the headlines about Canadian and global growth, U.S. expansion remains a key growth strategy for retailers, according to a survey of 100 retail chief financial officers by BDO USA.  
   
In the seventh-annual BDO Retail Compass Survey of CFOs, 30% of the executives said U.S. expansion will be their priority growth tactic in 2013, followed by improving merchandise assortment (24%) and e-commerce and mobile commerce (22%).
   

Costco Wholesale Corp.’s winning streak continues as the chain reported a better-than-expected 39% increase in profits for its fiscal second quarter. Here is Planet Retail’s take on the company’s most recent performance and future prospects:
 

Issaquah, Wash. -- Costco Wholesale Corp posted a better-than expected 39% increase in quarterly profit, helped by increasing sales and a rise in membership fees.

Net income was $547 million in the fiscal second quarter ended on Feb. 17, compared with $394 million a year ago.

COPPELL, Texas — Walls + Forms Inc. has introduced its Mini Pallet Promota, a modular, robust pallet display system designed specifically for promoting palletized or bulk stacked products. 

Dick’s Sporting Goods fell three cents short of analysts’ profit forecast in the fourth quarter thanks to a 1.2% same store sales increase partially caused by unseasonably warm weather and soft sales of big ticket items.

Sales for the 14 week period ended February 2, increased 12% to $1.8 billion compared to the 13 week period the prior year. The company’s consolidated same store sales increase of 1.2% was driven by a 54.2% increase in online sales, offset by a 2.2% decrease at Dick's Sporting Goods stores and a 1.3% increase at Golf Galaxy stores.

LAKELAND, Fla. — Publix on Friday named four new officer positions effective April 1. The new officer positions are in corporate purchasing and manufacturing, the grocer reported. 

“I am very proud that we continue to have talented associates who are ready to assume higher leadership roles in our organization,” stated Publix CEO Ed Crenshaw. “Our ability to promote from within is one of the ways we are able to perpetuate our Publix culture.”

NEW YORK — Walmart's EVP corporate affairs, Leslie Dach, is stepping down in June. 

"Leslie has played a pivotal role in helping us understand the broader role Walmart can play in meeting the major challenges facing society today, and social goals are now an integral part of how we run our business," Wal-Mart chief executive Mike Duke in the memo.

Off price retailer Marshall’s has teamed up with television personality Maria Menounos to promote the treasure hunt atmosphere its stores offer shoppers.

Menounos, best know for her appearances on Extra! and Access Hollywood, has seen her share of red carpets and touts the fact that Marshall’s stores are a great destination for similar looks and what she refers to as "fabulous finds."