Jones Group reports revenue rise in Q4
New York City — The Jones Group reported Wednesday that revenues for the fourth quarter rose 12.5% to $874 million, from $777 million in the year-ago period.
The company attributed the fourth quarter performance to the June 2010 acquisition of the Stuart Weitzman business, as well as increases in various business segments.
Jones Group closed 44 retail locations in the fourth quarter to end the year with 803 locations (which includes acquired Stuart Weitzman locations). The company closed 194 locations in 2010.
Stater Bros. profit decreases in fiscal Q1
San Bernardino, Calif. — Supermarket retailer Stater Bros. Holdings said Wednesday that net income for the quarter ended Dec. 26 dropped to $1.3 million, compared with net income of $6.7 million in the year-ago period. The prior year results included an after-tax gain of $4.7 million.
Sales declined 2.3% to $899 million in the first quarter. Same-store sales also decreased 2.3%.
Walmart to offer Verizon iPhone at select stores
BENTONVILLE, Ark.— Walmart announced that iPhone 4 on the Verizon Wireless network will be available in select Walmart stores starting Feb. 10.
"We’re excited to bring iPhone 4 on the Verizon Wireless network, one the most anticipated mobile phone launches in recent history, to Walmart customers," said Gary Severson, SVP home entertainment for Walmart U.S. "As customers continue to embrace smart phone technology, we’ve added nearly 20 smart phone models to our assortment, including the new Verizon Wireless iPhone 4."
iPhone 4 on the Verizon Wireless network will be available at nearly 600 of the retailer’s in-store wireless areas starting at $199 for the 16GB model, the company reported. Walmart will offer a variety of iPhone 4 accessories including cases, car chargers, wraps, and hands free accessories from variety of accessory manufacturers. Walmart currently carries the AT&T iPhone 4 in select stores nationwide.