News

By Jeff Green

PLEASANTON, Calif. -- Ross Stores has emerged as one of those value retailers that has shined during the recent economic downturn. The company once again reported strong earnings and sales growth for the fourth quarter and fiscal year, showing that while the economy may be improving, value remains an important concern for consumers.

New York City -- The Labor Department’s Producer Price Index rose last month, primarily due to higher energy costs and the biggest rise in food prices in 36 years, USA Today reported.

Food prices rose 3.9% last month, the highest increase since November 1974.

The steep rise was due, in large part, to higher vegetable costs, which were up nearly 50%.

Toronto -- Opterus, a provider of web-based task management and store communications, announced that In the Pink Stores has chosen Opterus Store Ops-Center for improved communications and store execution management.

With most of their stores located at remote resort communities in New England, In the Pink’s unique business model incorporates a short-selling season with extremely high peak weeks, and some are only open part of the year. 

Pittsburgh -- Teen retailer rue21 said that its fourth quarter net income increased 41% to $10.9 million from $7.7 million in the year-ago period. Net sales for the quarter increased 22.3% to $190.1 million, from $155.4 million. Same-store sales rose 1.5%.

PITTSBURGH — Giant Eagle has received the American Diabetes Association's prestigious Chairman's Citation Award, which recognizes the accomplishments of individuals, corporations, institutions and organizations who have demonstrated dedication and commitment and have had a positive impact in advancing the mission of the ADA.

COLUMBUS, Ohio  -- Victoria's Secret announced that it has expanded its partnership with Major League Baseball Properties to include 12 new teams for its line of co-branded (VS) PINK merchandise. The spring 2011 collection will feature the Arizona Diamondbacks, Baltimore Orioles, Cleveland Indians, Colorado Rockies, Detroit Tigers, Milwaukee Brewers, Oakland Athletics, 2010 World Series Champion San Francisco Giants, Seattle Mariners, Tampa Bay Rays, Texas Rangers and Washington Nationals.

PAWTUCKET, R.I. -- Hasbro announced that it has appointed Margie Chan-Yip to serve as VP global publishing. In her new role, Chan-Yip will be responsible for creating new and innovative ways to bring Hasbro brand stories to consumers worldwide, from traditional print to e-book formats.