News

DALLAS — While Zale Corp. posted a nearly 10% comps increase for its fourth quarter, higher commodity costs lead to a wider net loss for the period. The company stands to gain even more in the way of sales, with additional financing options for its customers.

PLEASANTON, Calif. — Safeway announced that it will donate $20,000 to "America's Most Natural City" to help maintain its park facilities. In addition, the winning city will be awarded with 25 picnic tables, sectioned off from the 305-foot Douglas Fir table that recently broke the Guinness World Record for the World's Longest Picnic Table, which was built in celebration of Safeway's Open Nature, a new 100% natural line of high-quality foods, Safeway reported.

New York City -- Grilled cheese and soup is the signature calling card at The Melt, a start-up restaurant concept debuting in San Francisco with big plans for the future. The Melt expects to have five eateries up and running in the Bay Area by yearend -- with plans to expand to over 500 locations nationally by 2015.

Dallas -- Zale Corp. reported Wednesday that its loss for the quarter ended July 31 widened to $32.6 million from $28.5 million a year earlier. Its results were impacted by increased inventory charges and absent a one-time gain recorded a year ago.

Revenue rose 9% to $377.3 million, compared with $345 million in the year-ago period. Wall Street expected higher losses on revenue of $360.4 million.

Same-store sales increased 9.8% in the quarter.

HOFFMAN ESTATES, Ill. — Kmart announced that Roger Mason, Jr. of the New York Nets and Deion Branch of the New England Patriots will be featured in the company's social campaign for Protege, the company's exclusive footwear and apparel collection.

BOCA RATON, Fla. — Office Depot has announced the two small business finalists in its annual “Official Small Business of NASCAR, Courtesy of Office Depot” sweepstakes.

Nashville, Tenn. – Genesco, parent to the Journeys, Lids and Johnston & Murphy banners, reported Wednesday a loss of $392,000 for the quarter ended July 31, compared with a loss of $3.2 million in the year-ago period.

Sales rose 29% to $471 million, from $364 million. Same-store sales surged 14%, with the Lids Sports Group up 12%, the Journeys Group up 15%, the Johnston & Murphy Group up 17%, and the Underground Station Group up 10%.

The company said it is raising its fiscal 2012 guidance, based on the performance.

Hampstead, Md. -- JoS. A. Bank Clothiers reported Wednesday that net income for the second quarter surged 24.7% to $20.6 million, compared with $16.5 million in the year-ago period.

Sales rose 22.4% to $230.7 million from $188.4 million. Same-store sales increased 14.7%.