FINANCE

Buckle Q4 net income rises 9%

BY Marianne Wilson

Kearney, Neb. — The Buckle said that its fourth-quarter net income increased 9%, topping Wall Street expectations.

For the quarter ended Feb. 2, the retailer earned $61.4 million, up from $56.1 million in the same quarter last year.

Net sales for the 14-week quarter ended February 2, 2013 increased 7% to $360.6 million from net sales of $337.1 million for the prior year 13-week fiscal quarter ended January 28, 2012. Same-store net sales for the quarter were flat.

Online sales (which are not included in comparable store sales) increased 5.4% to $29.1 million for the 14-week period ended February 2, 2013, compared to net sales of $27.6 million for the 13-week period ended January 28, 2012.

For the full fiscal year, Buckle earned $164.3 million, up from $151.5 million in 2011. Revenue increased to $1.12 billion from $1.06 billion.
Buckle Inc. operates 441 stores in 43 states.

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OPERATIONS

Target to open 14 in-store health clinics

BY Alaric Dearment

New York — Target is expanding its retail clinic presence in the Chicago area, according to the Chicago Tribune.

The retailer plans to open three in-store health clinics — two in the suburbs and one in the city — in the Chicago area, the report said. Construction is scheduled to start on May 28, and grand openings are planned for Aug. 18. The Target on Division Street, scheduled to open in October, will also have a clinic.

Target is planning to open 14 new clinics around the country, for a total of 68, the newspaper reported.

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J.Lee says:
Apr-05-2013 04:20 am

With the increasing number of
With the increasing number of patients we need more clinics so that people can get appropriate service. This is a very good decision of opening new clinics in Chicago. I think suburbs need more in store clinics as people are not getting proper health care facilities there and these clinics can provide primary care services. advanced urgent care

J.Lee says:
Apr-05-2013 04:20 am

With the increasing number of patients we need more clinics so that people can get appropriate service. This is a very good decision of opening new clinics in Chicago. I think suburbs need more in store clinics as people are not getting proper health care facilities there and these clinics can provide primary care services. advanced urgent care

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FINANCE

Scott Kennedy named president of Target financial and retail service

BY Mike Troy

Minneapolis — Scott Kennedy was named president of Target financial and retail service to replace long time finance executive Terry Scully.

Scully spent nearly 35 years with Target and is moving into a strategic advisory role to ensure the smooth transition of the recently sold credit card portfolio to TD Bank Group. Scully, 60, will officially retire in March 2014. Filling his shoes as head of financial and retail services is Scott Kennedy, 44. He joined Target in 2005 and currently serves as VP of pay and benefits.

Scully joined Target in 1979 and held a variety of financial and credit card roles. In 1998, he became VP finance for Target Financial Services and was elevated to his current role in 2003.

The moves come as Target completed the $5.7 billion sale of its entire consumer credit card portfolio to TD Bank Group. The companies entered into a seven-year program agreement under which TD will also underwrite, fund and own future Target credit card and Target Visa receivables in the United States. Under the program agreement, TD will control risk management policies and oversee regulatory compliance and Target will continue to perform account servicing functions.

Target plans to maintain the current deep integration between its financial services operations and its retail operations and the agreement will not have any impact on Target’s 5% REDcard Rewards program.

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N.Ka says:
Mar-15-2013 10:00 am

This guy is theater actor
This guy is theater actor since in 1960. Terry is British, and appeared in Dawn of God's. - Michael Courouleau

N.Ka says:
Mar-15-2013 10:00 am

This guy is theater actor since in 1960. Terry is British, and appeared in Dawn of God's. - Michael Courouleau

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