News

New York City -- Many retailers reported solid sales gains for December, but the deep discounts and promotions that shoppers have come to expect cut into profits.  A range of retailers, including Target and The Children’s Place, reduced their, reducing their earnings outlooks. Overall, retail sales rose 3.4% at the 22 retailers tracked by the Thomson Reuters same-store sales index, compared with the 3.3% analyst forecast.

New York City -- The nation’s discounters and department store retailers turned in mixed results for December, with many chains citing unseasonably warm weather that sapped demand for cold-weather merchandise.

“Cold-weather categories, which are highly profitable and represent approximately 25% of our business in December, were down mid-teens on a percentage basis,” said Tony Buccina, vice chairman, president – merchandising, The Bon-Ton Stores, whose December same-store sales fell 0.7%. The company widened its loss forecast.

HOFFMAN ESTATES, Ill. — Sears announced that it has completed a number of initiatives designed to reinforce itself as a fitness leader. 

WOONSOCKET, R.I. — CVS/pharmacy has launched a new service on its CVS.com website to assist military service members, veterans and their families who need to transfer their prescriptions to a pharmacy that lets them continue using their Tricare prescription insurance coverage.

NEW YORK — While the Liz Claiborne brand will be kept alive thanks to a recent deal with JCPenney, the company behind the name is headed in a new direction. Liz Claiborne Inc. announced it is changing its name to "Fifth & Pacific Companies" to better communicate its strategic focus on growing its three global lifestyle brands (Juicy Couture, Kate Spade and Lucky Brand). The change is expected to be effective on or about May 15, 2012 at which time the company will begin trading as Fifth & Pacific Companies Inc. (NYSE: FNP).

ATLANTA — Goody is launching for 2012 its first-ever heat styling products that are slated to hit Target and Walmart shelves in March.

The new collection is comprised of the Goody Heat Flash Dry blow dryer, Smart Temp blow dryer and Wave Creator styling iron.

FRAMINGHAM, Mass — TJX announced that it has moved some of its executives to new roles to better position the company for future growth. Michael MacMillan will assume leadership of the company’s European division as SVP TJX Europe, moving from his current post as head of The Marmaxx Group (the company’s largest division comprised of T.J. Maxx and Marshalls). Richard Sherr will return to The Marmaxx Group as Senior EVP, having most recently held the post of president HomeGoods.

ROCHESTER, N.Y. — In what might become an additional indicator as to the power consumers can wield across retail through social media outlets, Wegmans on Wednesday reinstated Alec Baldwin as the company's spokesman.

Wegmans had pulled its Baldwin holiday advertising campaign in response to consumer complaints about Baldwin's behavior on an American Airlines flight Dec. 6, a flight from which he was removed for refusing to turn his cell phone off.

DALLAS — The first CEO of Sam's Club, Ronald Loveless, has been named vice chairman of U.S. Preventive Medicine. Loveless will serve alongside vice chairman Ron Loeppke, who joined the company in 2008 to direct product innovation, research and clinical standards at the company.

Loveless will play a key role in guiding the growth of U.S. Preventive Medicine in the United States, as well as international markets, the company stated.

GREEN BAY, Wis. — Shopko Stores Operating Co. said Wednesday that Shopko and Pamida will merge to create one of the largest U.S. retailers focused on serving smaller and rural communities. The combined entity will have nearly 350 locations in 22 states and plans to accelerate new store growth in the second half of 2012 and beyond.

Financial details of the merger, expected to close in mid-February, were not disclosed. Both companies are owned by affilates of the private equity firm Sun Capital Partners.