News

Goodlettsville, Tenn. -- Dollar General reported record net income and sales during for the first quarter, but still reduced the top end of its profit forecast due to moderating same-store sales.

The discounter reported net income of $220 million, up 3% from $213 million in the first quarter of 2012. Net sales totaled $4.23 billion, up 8.5% from $3.9 billion.

Dallas – Neiman Marcus had a strong third quarter fiscal 2013, reporting a substantial increase in net earnings as well as growth total revenues and same store sales.

Net earnings grew 13% compared to third quarter of last year, from $62.6 million to $70.8 million from $62.6 million.

Total revenues increased 4%, from $1.06 billion to $1.1 billion.

Same store sales grew 3.6%.

MENOMONEE FALLS, Wis. — Kohl’s has renewed its partnership with Junior Achievement of Wisconsin and donated to the organization $1.5 million throughout a three-year period to support and expand the JA Kohl’s Education Center. 

Topeka, Kan. -- Popular industry wisdom holds that channel alignment is mainly for the benefit of the consumer, who desires a seamless retail experience and does not want have to start from scratch every time they engage with a retailer via a new channel. While this holds true, channel alignment is also a crucial strategic and tactical necessity for back-end operations.

WEST CHESTER, Pa. — QVC, a global leader in video and e-commerce retail, has appointed former Hershey’s executive Ted Jastrzebski as the company’s new CFO. Jastrzebski will oversee QVC's financial operations, and will report to president and CEO Mike George.

Austin, Texas — Kimberly-Clark is looking to RW3 Technologies to help the company optimize its trade promotion investment. K-C will leverage RW3’s mobile technology solutions to keep its brands positioned front and center on shelves.

GOODLETTSVILLE, Tenn. — Dollar General reported record sales, operating profit and net income for the first quarter ended May 3, thanks to strong growth in its consumables categories.

Boca Raton, Fla. -- Office Depot has reached an agreement to sell its 50% stake in Office Depot de Mexico S.A. de C.V. to its joint venture partner Grupo Gigante, S.A.B. de C.V. for roughly $690 million in cash.

Office Depot de Mexico, which was founded in 1994 as a joint partnership between Office Depot and Grupo Gigante, has more than 248 stores throughout Mexico and Central America and more than $1.1 billion in annual sales.