Ikea honored as one of most ethical companies
Conshohocken, Pa. Ikea has been recognized by the Ethisphere Institute as one of the World’s Most Ethical Companies for 2010. This is Ikea’s fourth consecutive year for this award.
“Ikea is very pleased with being recognized again as one of the world’s most ethical companies,” said Mike Ward, Ikea U.S. president. “We believe the strength of a company starts with a deep commitment — not only from management — but also from every co-worker who has demonstrated unwavering dedication to the highest standards.”
Through in-depth research and a multi-step analysis, Ethisphere reviewed thousands of nominations from companies in over 100 countries and 36 industries in order to determine the winners.
“Ikea’s promotion of a sound ethical environment shines within its industry and shows a clear understanding that operating under the highest standards for business behavior goes beyond goodwill and ‘lip-service’ and is intimately linked to performance and profitability,” said Alex Brigham, executive director of the Ethisphere Institute. “This year’s World’s Most Ethical Companies award was more competitive than ever, because companies realize that making ethics a priority is critical amidst a tough economic environment.”
Asampling of other winners include Aflac, American Express, Campbell Soup, the Ford Motor Co., General Electric, Google, L’Oreal, Nike, PepsiCo, Starbucks, T-Mobile USA, UPS, Whole Foods Market and Xerox.
The methodology for the WME ranking includes reviewing codes of ethics, litigation and regulatory infraction histories; evaluating the investment in innovation and sustainable business practices; looking at activities designed to improve corporate citizenship; and studying nominations from senior executives, industry peers, suppliers and customers.
Books-A-Million offering special deals for educators
BIRMINGHAM, Ala. Books-A-Million announced that all Books-A-Million stores will be hosting Educators’ Day on Saturday, April 17. The Books-A-Million Educators’ Day will be a special day for educators with extra savings, exclusive offers and prizes and free food and beverages. the company reported.
In addition, Books-A-Million announced that from April 17 through April 23, educators will also receive 25% off their classroom purchases with their Books-A-Million Educator Discount Card.
Cost Plus improves comps, earnings
OAKLAND, Calif. Cost Plus reported that net sales for the fourth quarter ended Jan. 30 were $320 million, a 4.6% decrease from the $335.4 million in net sales for the fourth quarter ended Jan. 31, 2009. Same-store sales for the fourth quarter decreased 2.5% compared with a 6.1% decrease last year.
Net sales for fiscal 2009 were $869.5 million, an 8.6% decrease from $950.9 million in fiscal 2008. For fiscal 2009, same-store sales decreased 7.1% driven by a reduction in the average ticket, the company reported.
Barry Feld, president and CEO commented, “We are pleased with the return to profitability in our most important quarter. The company’s core competency in unique and affordable seasonal gift-giving and entertaining products, augmented with a new customer acquisition campaign, reversed the negative trend in customer count and drove significantly more profitable sales in the quarter than a year ago.”
Net income on a GAAP basis for the fourth quarter of fiscal 2009 was $21.1 million or 95 cents per diluted share versus a loss of $18.3 million or 83 cents per diluted share for the fourth quarter of fiscal 2008. Net loss for fiscal 2009 was $63.3 million or $2.87 per diluted share compared with a net loss of $102.7 million or $4.65 per diluted share last year.
For the first quarter of fiscal 2010, the company expects net sales in the range of $185 million to $188 million, based on a same-store sales increase in the range of 3% to 5%.
For the first quarter of fiscal 2010, the company is projecting a loss from continuing operations before interest and taxes in the range of $11 million to $13 million versus a loss of $22.3 million for the first quarter of fiscal 2009.