News

The Walmart board approved a hefty 21% increase to what was already one of the retail industry’s richest dividend payouts, the company announced late Thursday. The increase approved by the board puts Walmart’s annual dividend at $1.46 a share for the current fiscal year compared with last year’s dividend of $1.21. The dividend will be paid in quarterly installment of 56.5 cents.

Washington, D.C. -- The National Retail Federation told federal transportation officials this week that a proposal to limit the number of hours truck drivers spend behind the wheel each day would increase costs for businesses and consumers while undermining intended safety benefits by putting more trucks on the road during the most-congested hours.

Ankeny, Iowa -- Casey’s General Stores has signed a definitive purchase agreement to acquire five convenience stores from QuikTrip Corp. All of the stores are located in the Springfield, Mo., metropolitan area.

The stores will be immediately rebranded to Casey’s once the transaction is completed.

Albany, N.Y. -- Trans World Entertainment said that net income for the fourth quarter rose to $12.4 million $11.4 million as it continued to cut costs by closing more of its f.y.e. (For Your Entertainment) stores.

Total sales for the quarter fell 22%, to $231.2 million. Same-store sales fell 6%.

For fiscal 2010, Trans World posted its fourth consecutive annual net loss. The net loss for the year was $31 million, compared with a net loss of $42.4 million in fiscal 2009.

San Diego -- Teradata Corp. signed a definitive agreement to acquire Aster Data Systems, a market leader and pioneer in advanced analytics and the management of a variety of diverse data that is not structured.

New York City -- Some landlords, vendors and other unsecured creditors of Blockbuster are objecting to Blockbuster's plan to sell itself because they fear they won't be paid what they are owed, according to the Associated Press.

A hearing to approve the stalking horse bid and auction was originally scheduled for Wednesday, but was postponed late Tuesday until March 10 while the judge considers the objections.

Cincinnati -- Kroger Co. said Thursday that its fourth-quarter net income jumped 9.2% while sales rose 7.4%. It also announced that its board authorized a $1 billion stock repurchase plan.

Net income was $278.8 million, compared with $255.4 million in the year-ago period. Quarterly revenue rose to $19.9 billion, with same-store sales up 3.8%.

Kroger offered a cautious outlook for the current year, saying rising fuel costs are likely to take a bite out of household budgets.

New York City -- Foot Locker’s fourth-quarter net income more than doubled to $57 million on fewer charges and improved revenue.

The company reported a 5% increase in sales for the quarter ended Dec. 31, 2010, to $1.39 billion, up from $1.33 billion in the year-ago period. Same-store sales rose 7.3%.

Foot Locker reported net income of $169 million for the full year. That compares with net income of $48 million, in 2009.

Topeka, Kan. -- Collective Brands, the parent company of Payless ShoeSource, said Wednesday that its net loss narrowed slightly in the fourth quarter as sales improved in its wholesale unit. The performance beat Wall Street expectations.

For the three months ended Jan. 29, Collective Brands lost $10.1 million, compared with a loss of $10.9 million in the year-ago period.

Fort Worth, Texas -- Pier 1 Imports’ same-store sales increased rose 8.9% in the fourth quarter. The chain also offered earnings guidance for the quarter that was slightly above what Wall Street expects.

Total revenue for the quarter rose 8% to $427 million from $396 million.

For the full year, which ended Feb. 26, same-store were up 10.9% while total revenue rose to $1.4 billion from just under $1.3 billion.