News

New York -- Despite continued weakness in the overall economy, middle and upper-class consumers appear to remain little affected by the downturn, as evidenced by Tiffany & Co.'s U.S. same-store sales growth of 9% during its fiscal fourth quarter. Worldwide sales were up 12% for the quarter.

CINCINNATI -- Macy's Inc. announced that it will make a corporate contribution of $100,000 in cash to the American Red Cross for earthquake and tsunami relief on behalf of Macy's and Bloomingdale's associates across America. In addition, the company said it will match, on a dollar-for-dollar basis, all employee contributions of $25 or more to the American Red Cross and other U.S.-based organizations providing rescue and relief assistance in Japan. 

New York City -- Information on Tuesday confirmed that private equity firm Leonard Green & Partners LP is considering an offer to acquire BJ’s Wholesale Club.

Leonard Green, which already as a 9.3% ownership stake in the wholesale club operator, said in an SEC filing that it is examining confidential information provided by BJ's as it evaluates an offer.

BJ's revealed in February that it was considering selling itself.

GOODLETTSVILLE, Tenn. -- Though Dollar General's fourth-quarter sales growth came in at slightly below analysts' expectations, the company is still considered a good investment.

Indianapolis -- MID Retail said Tuesday that Rue21 has selected its Advanced Allocation Software for Allocation and Store forecasting.

According to MID, its Advanced Allocation Software was designed to help multi-store, multi-SKU retailers increase accuracy, efficiency and profitability.

Deerfield, Ill. -- Walgreen Co. reported Tuesday that net income for the quarter ended Feb. 28 rose to $739 million, compared with $669 million in the year-ago period. However, gross profit margin remained flat at 28.8%, disappointing Wall Street, which expected more from the drugstore operator.

Revenue climbed 9% to $18.5 billion. Same-store sales and prescription sales each rose 4%.

FAIRFIELD, Conn. -- The Stop & Shop Supermarket Company announced that, along with its sister Ahold USA supermarkets, $100,000 will be donated to the American Red Cross Earthquake and Pacific Tsunami Fund to support disaster relief efforts to help those affected by the earthquake and tsunami in Japan. Additionally, through Sunday, April 3, Stop & Shop said it will be collecting donations in all stores for the victims of the natural disasters in Japan on behalf of the American Red Cross Japan Earthquake and Pacific Tsunami Fund.

Sharp Electronics Corp. has announced that Mark Viken has been named VP, marketing. He will report to John Herrington, president, Sharp Electronics Marketing Company of America.

In this position, Viken will oversee U.S. marketing of all Sharp consumer electronics products including appliances and health and environment-related products, as well as audio and video categories.