News

New York City -- Dollar General Corp. reported Tuesday that its fourth quarter profit more than doubled over last year, boosted by increasing sales and traffic. The discounter generated a higher-than-expected profit of $222.5 million for the quarter ended Jan. 28, up from $87.2 million in the year-ago period. The company also gave a full-year forecast that topped analysts’ estimates.

Sales increased 9.4% to $3.49 billion, and same-store sales rose 3.8%.

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.

Retailers’ growth plans in the United States are up 40% over last year’s levels, according to ChainLinks' Retail Advisors Spring 2011 National Retail Report. The report, which details trends impacting retail commercial real estate in more than 40 of the nation’s top markets, credits the surge in expansion to two key factors: the return of optimism within the retail sector; and the desire to expand quickly now -- before retail fundamentals improve enough for rents to start climbing again.

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. 

Houston -- A survey released Tuesday by NPD Group found that morning and evening commutes are a peak time for super heavy users of convenience stores to visit, while moderate and light users tend to visit more during the evening commute.

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.

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.