News

MOORESVILLE, N.C. — Lowe’s has named José Luis Pier Castelló as president/general director of Lowe’s Mexico, effective March 15. He replaces Francisco Fernandez, who has left the company. Pier Castelló will report to William Robinson, head of international operations and development.

Cincinnati -- The Kroger Co. on Thursday reported a better-than-expected profit for its fourth quarter profit amid a surge in sales.

For the period ending Feb. 2, Kroger earned $461.5 million, compared to the year ago period when the company reported a loss of $306.9 million as pension costs dragged down results.

Revenue rose 12.8% to $24.2 billion. Same-store sales increased 3% for the quarter, excluding fuel. After adjusting for the extra week in the fourth quarter, total sales increased by 3.7% over the fourth quarter of fiscal 2011.

AVON, Ohio — Duck Tape is heading to the runway this Thursday on Lifetime’s “Project Runway,” as season 11’s aspiring designers face the “Unconventional Materials Challenge,” a competition in every season that challenges them to create high-fashion clothing from something other than fabric.

New York -- Gap Inc. said Thursday that its February same-store sales rose a better-than-expected 3% for the four weeks ended Feb. 25. Analysts expected a 2% increase.
   
The chain was due to release the sales figures after the market closed, but put them out at midday after they were found in a leaked transcript of prerecorded comments.

By division, same-store sales rose 2% at Gap and 6% at Old Navy. They fell 5% at Banana Republic.

WINSTON-SALEM, N.C. — Hanes has received the U.S. Environmental Protection Agency's highly coveted Energy Star Sustained Excellence Award for 2013.  The award is the company's fourth consecutive year of Energy Star recognition and its second consecutive year as a recipient of the Sustained Excellence Award, which is given to a select group of organizations that have exhibited outstanding sustainability leadership year after year.

JACKSONVILLE, Fla. — Stein Mart reported that its total sales for the month of February were $85.2 million, an increase of 5.6% over total sales of $80.7 million for the four-week period ended Feb. 25, 2012. Comparable-store sales for the month increased 0.6%.

PHOENIX — PetSmart reported that its fourth quarter earnings were up 36% to $1.24. Comparable-store sales, or sales in stores open at least a year, grew 4.6%, benefitting from comparable transactions growth of 1.2%. Total sales for the quarter were up 15% to $1.9 billion.

For the year, the company delivered earnings per share of $3.55, up 39% compared with $2.55 last year. Comparable-store sales grew 6.3%, benefitting from comparable transactions growth of 2.4%. Total sales for the year were $6.8 billion, up 11%.

TORONTO, ONTARIO —  The Canadian arm of the United Food and Commercial Workers union has taken aim at Target for its alleged unfair treatment of former Zellers workers.

The union claims that Target, which is converting 189 Zellers stores, is not giving former employees a fair shake in the hiring process and that many have been turned down for employment without reason.