News

Dallas -- RadioShack Corp. said Monday that it plans to sell $300 million in debt that will come due in 2019.

The retailer said it plans to use the proceeds from the sale of the senior notes for general corporate purposes, which may include stock buybacks.

BALDWYN, Miss. -- Hancock Fabrics reported that net sales for its fourth quarter were $78.4 million compared with $77.7 million in the fourth quarter last year, and comparable-same store sales increased 0.7%, compared with a 1.3% decrease in the previous year.

Operating income for the quarter was a loss of $8.4 million, a decrease of $11.7 million compared with a $3.3 million profit in the previous year’s fourth quarter.

OAKLAND, Calif. — A third-party certifier of Fair Trade consumer products said that 2010 saw an increase of such products on the market.

Fair Trade USA said that the Fair Trade market in 2010 saw a boost in both new and existing product categories. New products included apparel, green peppers, vodka and a wide array of herbs, spices and extracts. What's more, Fair Trade coffee and cocoa continued to expand. Fair Trade USA certified nearly 109 million lbs. of Fair Trade coffee, while nearly 3.9 million lbs. of cocoa received Fair Trade certification.

New York City -- Wal-Mart Stores is making progress bringing items and shoppers back to its U.S. stores, president and CEO Mike Duke said Tuesday at the Barclays Capital analyst conference in New York City. 

Duke noted that improving the chain’s U.S. same-store sales remains its top priority. He said the chain is on its way to having the right assortment.

NEW YORK -- Phillips-Van Heusen announced the appointment of Andrea Elliott as VP and general manager Canadian retail operations.

In this newly created position, Elliott is responsible for all aspects of the Canadian launch of Calvin Klein, Van Heusen, IZOD, and G.H. Bass & Co. retail stores across Canada. Elliot, who is based in Toronto, will oversee the store operations for each of these brands in Canada, and will report directly to Steve Shiffman, group president and COO PVH Retail Brands.

Minneapolis -- Grocery Shopping Network has announced the launch of newly enhanced consumer websites for Milwaukee based Roundy’s Supermarkets.

The launch includes the websites of Roundy’s five store banners: Pick ’n Save, Rainbow Foods, Copps Food Centers, Metro Market and Mariano’s Fresh Market.

MONROE, Mich. -- La-Z-Boy announced that it has promoted R. Rand Tucker to the newly created position of VP and general counsel of the company, effective May 1, where he will be responsible for overseeing all of the company's legal and environmental affairs.

Tucker joined La-Z-Boy in 2000 as corporate counsel, when La-Z-Boy acquired LADD Furniture.  At LADD, he served as VP and general counsel.  Prior to joining LADD, Tucker was a partner in the Charlotte office of Kilpatrick Stockton LLP.

Boca Raton, Fla. -- Office Depot reported a first quarter loss of $5.4 million, down from a profit of $29.5 million in the prior-year period, amid weaker sales and a higher tax rate.

Total company sales for the quarter were $2.97 billion, down 3% from last year.