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Children’s Place Q4 profit falls, but beats view

BY CSA STAFF

Secaucus, N.J. — The Children’s Place Retail Stores Inc. said Wednesday its profit fell nearly 6% in the fourth quarter, but results topped expectations as the company cut costs.

The retailer said its net income fell to $32.1 million in the three months ended Jan. 29, down from $34.1 million year ago. Revenue fell 2% to $453.2 million from $462.8 million in the prior-year period. Same-store sales fell 5.9%.

Selling, general and administrative expenses fell about 1%. For the year, net income fell 6% to $83.1 million. Revenue rose nearly 2% to $1.67 billion from $1.64 billion.

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Target and Lady Gaga call off deal

BY CSA STAFF

New York — Lady Gaga’s deal to sell a special edition of her upcoming album at Target is off.

A representative for the flamboyant and outspoken singer said Wednesday the two sides "came to a mutual decision to end their overall exclusive partnership a few weeks ago." Last month, it was announced that Target Corp. would be selling a deluxe edition of the album, to be released May 23, with bonus content.

But gay advocates were concerned about the partnership, citing Target’s donations during the last election season to a political candidate who was against gay marriage, according to the Associated Press.

The Advocate reported Tuesday that Gaga wasn’t comfortable with the deal and ended it.

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Hudson Capital Partners acquires Robb & Stucky

BY CSA STAFF

New York — The sale of the financially-beleaguered furniture retailer Robb & Stucky to liquidation firm Hudson Capital Partners of Massachusetts was approved Tuesday at a bankruptcy hearing in Tampa, the South Florida Sun-Sentinel reported.

Hudson Capital, in a joint venture with Hyperams LLC, offered the highest bid for the 96-year-old Fort Myers-based company, which operates 20 stores, mostly in Florida.

Last month, Robb & Stucky filed for Chapter 11 bankruptcy protection and agreed to allow Hudson Capital to liquidate its assets, unless better bids came at auction.

Brooks Brothers unveiled a redesign of its third floor as part of a multi-year renovation of the company’s 10-story 346 Madison Avenue flagship. The sportswear floor of the store will have a state-of-the art, full-scale indoor PGA Tour simulator where players can choose from such courses as St. Andrews Links.

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