News

New York -- Fashion retailer Cache reported Thursday that net income for the fourth quarter ended Dec. 31 was $1.9 million, compared with a loss of $14.2 million the year-ago period.

Sales surged 12.5% to $62.9 million, from $55.9 million in the fourth quarter of fiscal 2010. Same-store sales increased 12.4%.

Year to date the company has closed 12 underperforming stores and said it expects to close five more stores and open two in fiscal 2012.

Boston-based The Wilder Cos. has taken on a new leasing and management assignment – the open-air specialty shopping center The Shops at Valley Square, in Warrington, Pa.

Located in Bucks County, Pa., just north of Philadelphia, The Shops at Valley Square is part of a 140-acre mixed-use development that includes office, retail and residential.

Hoffman Estates, Ill. -- Multiple reports on Thursday said that Sears Holdings Corp. is considering a sale of its Lands’ End mail-order catalog business, as part of its move to raise up to $2 billion.

The New York Post reported that Sears is in talks with several private-equity firms about the potential sale.

Sears chief Eddie Lampert is said to be likely to hire Goldman Sachs to find a buyer for Lands’ End.
 

MATTHEWS, N.C. — Rising gas prices and a cautious consumer environment continues to benefit the dollar store, with Family Dollar being the latest example. The company reported that net income for the second quarter of fiscal 2012, ended Feb. 25, increased 10.7% to $136.4 million compared with net income of $123.2 million for the second quarter of fiscal 2011. Net income per diluted share for the quarter increased 17.3% to $1.15 compared with 98 cents for the second quarter of fiscal 2011.

AMSTERDAM — Staples has named Willem Vos as director of e-commerce for Staples Europe. Vos will report to Peter Howard, SVP, head of Staples online and marketing for Staples Europe.

NEW YORK — The Consumer Confidence Index from the Conference Board fall slightly in March to 70.2 from 71.6 in February. 

"Consumer Confidence pulled back slightly in March, after rising sharply in February,” said Lynn Franco, director of The Conference Board Consumer Research Center. “The moderate decline was due solely to a less favorable short-term outlook, while consumers’ assessment of current conditions, on the other hand, continued to improve.”

Opening day for Major League Baseball is April 5, and Target was on its promotional game this past weekend featuring assortments of MLB licensed products in its weekly ad.

DALLAS — On orders of the U.S. Department of Defense, The Army and Air Force Exchange Service, will for the first time in its 116-year history, name a civilian to the role of CEO/director.

Until such a person is named, COO Mike Howard will take over as acting CEO/director as the organization’s board of directors seeks a permanent replacement. 

SALISBURY, N.C. — Food Lion continues to implement its new strategy of offering greater value on store brands and being competitive on national brands, while providing a convenient shopping experience. The company announced that it has launched the strategy in 268 stores in Virginia, West Virginia and North Carolina. These markets are the first stores in 2012 to unveil the new strategy, the company said.

Target has its low price promise, 5% REDcard Rewards and this week, just in time for Easter, its circular is filled with 50% off deals on toys from Star Wars, Mega Bloks, Disney and Fisher-Price toys. And if those offers aren’t incentive enough to generate a visit to the local Target the company also featured eight free gift card offers ranging in denominations from $5 for any two Procter & Gamble brand products to $35 for a $179 B70 Platinum Edition Keurig brand coffee maker.