SGB Update

Payless Fiscal 2002 Earnings Double on Comp Store Decline

Payless ShoeSource, Inc. reported company sales for the fiscal year 2002 totaled $2.88 billion, a 1.2% decrease from $2.91 billion in the fiscal year 2001. During the fiscal year 2002, same-store sales decreased 3.2%. In the fiscal year 2002, net earnin

Former Venator CEO Joins Gadzooks Board

Gadzooks, Inc. announced that Carol Greer, President of the Carol Greer Associates retail consulting firm, has joined its Board of Directors, increasing its number of Directors to seven…

Varsity Brands Swings to Profits in 2002; Sales Up 6.0%

Varsity Brands, Inc. announced net income of $9.9 million, or $0.92 per share on a fully diluted basis, for the year ended December 31, 2002. Net income for the year ended December 31, 2002 included an income tax benefit of $0.7 million. Revenues for th

Famous Footwear Helps Brown Shoe Achieve Record Profits

Brown Shoe Company, Inc. reported net sales for 2002 rose 4.9% to $1.8 billion. Net income for fiscal 2002 was $45.2 million, or $2.52 per diluted share, compared with a net loss of $3,962,000, or 23 cents per diluted share, in fiscal 2001. Fiscal 2002

West Marine February Comps Drop 13.9%

West Marine, Inc. reported that net sales for the four weeks ended Feb. 22, 2003 were $31.1 million, a 12.6% increase from net sales of $27.6 million for the same period a year ago. Comparable store net sales for the four weeks ended Feb. 22, 2003 decreas

TJX 2002 Earnings Up 11% on 3.0% Comp Store Rise

The TJX Companies, Inc. announced net sales for fiscal 2003 were $12.0 billion, up 12% over the previous year, and consolidated comparable store sales increased 3%. For the 52-week fiscal year, net income reached $578 million and diluted earnings per shar

PacSun Makes d.e.m.o. VP Promotions

Pacific Sunwear of California Inc. announced that Heidi Muther has been promoted to the position of vice president of merchandising for d.e.m.o. and that Eric Plyler has been promoted to vice president of stores for d.e.m.o…

Pacific Sunwear Increases 2003 Store Opening Plans

Pacific Sunwear of California, Inc. announced that it is increasing its store opening plans to 75 net new stores for fiscal 2003, which includes at least 10 net new d.e.m.o. stores…

Court Approves Kmart Disclosure Statement

Kmart Corporation announced Wednesday that the U.S. Bankruptcy Court for the Northern District of Illinois has approved the Disclosure Statement filed in connection with the Company's First Amended Joint Plan of Reorganization…

SportsLine.Com To Produce Official NCAA Site; Dumps Gambling Sites has carved out a deal to produce the website for all of the National Collegiate Athletic Association's championship events, starting with the men's basketball tourney next month. But the deal, which runs until 2006, means that th

Former Kmart Executives Indicted for Fraud

Two former Kmart vice presidents indicted Wednesday for their part in Kmart's financial downfall could be just the first of a wave of executives to face criminal charges for pushing the century-old retailer into bankruptcy, experts predicted…

Aussie Apparel Group Retains Retail Marketing Firm

Aussie Apparel Group, Ltd. announced that it had retained Los-Angeles-based A.D.D. Marketing & Advertising to manage its promotional and marketing efforts for its recently acquired brands…

Federated Names Lundgren CEO, Adds Four Vice Chairs

Federated Department Stores announced a long-planned management transition and change in its top corporate management structure. Terry J. Lundgren, president/COO and CMO, has been chosen to succeed James M. Zimmerman as Federated's CEO. Zimmerman wi

Kratowicz Named ShopKo Division VP

ShopKo Stores, Inc. announced the promotion of James Kratowicz to vice president of pricing, consumer information resources and e-commerce for the company's ShopKo division…