Gap Q4 outlook tops expectations amid strong January
San Francisco — Gap Inc. posted strong sales for January and issued a fourth-quarter profit forecast that topped expectations.
The retailer said its same-store sales rose 1% in January. Analysts had expected a drop of 1.3%. Net sales for the four weeks that ended Feb. 1 were $899 million, compared with net sales of $1.13 billion for the five-week period ended Feb. 2, 2013.
For the fourth quarter, net sales were $4.58 billion, compared with $4.73 billion a year earlier.
This year’s January and fourth quarter had one less week than last year’s.
"We’re pleased to deliver a strong finish to the year, with another month and quarter of comp sales growth," said chairman and CEO Glenn Murphy in a statement.
KKR & Co. to acquire National Vision Inc.
New York — Private equity firm KKR & Co. will acquire National Vision Inc. from Berkshire Partners.
National Vision, which focuses on low-cost glasses and contacts, operates more than 750 retail locations under names that include America’s Best Contacts & Eyeglasses and Eyeglass World. It also has stores inside Wal-Mart Stores Inc, Fred Meyer, and military bases.
Terms of the deal were not disclosed. The management team of National Vision is expected to remain a significant investor in the company, KKR said.
Rose Paving Co. to raise funds for ASPCA at 50th annual SPECS event
Bridgeview, Ill. — Rose Paving Company is set to support the efforts of the ASPCA (The American Society for the Prevention of Cruelty to Animals) through a multi-event fundraising campaign in 2014. Rose Paving will host a fundraising activity at industry trade shows and expos across the country, giving registered attendees the opportunity to help support the ASPCA’s mission to prevent cruelty towards animals.
Fundraising will continue throughout the year at events across multiple states including Chain Store Age’s SPECS conference, in Grapevine, Texas. SPECS conference attendees are encouraged to visit Rose Paving’s booth number 1033 during exhibit hours and autograph a banner in support of the ASPCA. For each signature received, Rose Paving will donate $5 to the ASPCA.
“We are excited to serve as an ASPCA Business Ambassador and help raise awareness and funds to support its mission, which is to provide effective means for the prevention of cruelty to animals throughout the United States,” said Chris Tanner, Rose Paving senior VP and partner. “After a very successful fundraising campaign in 2013 for St. Jude , we are thrilled to continue our efforts in 2014 for another worthy cause.”
Founded in 1866, the ASPCA (The American Society for the Prevention of Cruelty to Animals) is the first animal welfare organization in North America and serves as the nation’s leading voice for animals. More than two million supporters strong, the ASPCA’s mission is to provide effective means for the prevention of cruelty to animals throughout the United States. As a 501(c)(3) not-for-profit corporation, the ASPCA is a national leader in the areas of anti-cruelty, community outreach and animal health services.