News

Cincinnati -- Macy's earned a better-than-expected $730 million in the fourth quarter, compared with $745 million a year earlier when it booked one-time gains from the sale of store leases. The department store retailer forecast an annual profit for the recently completed year that surpassed analysts’ estimates and provided new guidance for continued growth and progress for 2013.

PROVO, Utah — Target strengthened its sustainability rep recently with the addition of EcoScraps, a provider of organic, chemical- and manure-free lawn and garden products, to its lineup. The sustainable, 100% organic, potting soil is now available at more than 1,700 Target stores nationwide. This marks the first time that EcoScraps will appear on the shelves of a major retailer at the national level.

Atlanta -- The Home Depot Inc. said Tuesday its fiscal fourth-quarter net income jumped 32%, beating expectations, helped by strong U.S. sales and repairs and cleanup resulting from Superstorm Sandy. The chain also said it will buy back $17 billion of its common stock and boosted its quarterly dividend by 34%.

CINCINNATI — Macy's reported fourth-quarter sales and earnings growth that exceeded company expectations, prompting it to issue new guidance for 2013. 

FORT WORTH, Texas — Comps were down 7% at RadioShack for the fourth quarter, driven by a decline in the mobility and consumer electronics platforms. Total sales and and operating revenue were $1.3 billion, compared with $1.4 billion last year.  

The company reported a fourth-quarter net loss of $63 million, or 63 cents per diluted share, compared with net income of $12 million last year. 

New York -- Visa Inc. has entered into an agreement with mobile commerce provider ROAM, an Ingenico company, to enable merchants of all sizes to accept electronic payments using mobile technology. The companies aim to displace cash payments by expanding the reach of electronic payments to new merchant categories, and by making it easier for merchants and acquirers to take advantage of secure mobile acceptance solutions.

CONSHOHOCKEN, Pa. — American fans of Ikea’s Swedish meatballs can rest easy following clarification from the company regarding the origin of beef and pork found in meatballs sold at U.S. stores.

FOSTER CITY, Calif. — Visa announced that it has signed an agreement with leading mobile commerce provider ROAM, an Ingenico company, to enable merchants of all sizes to accept electronic payments using mobile technology. The companies aim to displace cash payments by expanding the reach of electronic payments to new merchant categories, and by making it easier for merchants and acquirers to take advantage of secure mobile acceptance solutions.