FINANCE

Kohl’s Reports Q1 Income Boost

BY CSA STAFF

Menomonee Falls, Wis., Kohl’s Corp. reported a net income of $167.2 million, up 34.1% from $124.7 million in the same period last year on a sales gain of 16.1%, to $3.2 billion from $2.7 billion. Comp-store sales rose 6.9% during the quarter.

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FINANCE

Winn-Dixie to Sell 21 Stores

BY CSA STAFF

Jacksonville, Fla., Bankrupt Winn-Dixie Stores Inc. said it reached agreements to sell 21 stores to 14 buyers for more than $15 million. The deal does not include inventory, which was sold previously in clearance sales. The stores are part of the 35 locations closed earlier this year after an evaluation of the company’s business. The closings aim to enhance Winn-Dixie’s financial performance and help prepare it to emerge from Chapter 11 reorganization this fall.

Sunrise Properties is buying four stores, while Office Depot Inc. and Kash n’ Karry Foods supermarket chain are buying three stores each, while other buyers are purchasing individual stores. Winn-Dixie said employees working at the closed stores were hired at other company stores.

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OPERATIONS

Gap Inc. Named Most Fashionable Employer for New Graduates

BY CSA STAFF

San Francisco, Gap Inc. was named the most “Ideal Employer” by undergraduates across the country who are interested in pursing careers in retail, fashion and apparel, according to the 2006 Universum Undergraduate Survey. The Universum study, conducted annually since 1997, polled more than 37,000 students at more than 200 leading colleges and universities across the country. In the survey, participants describe their career expectations and list their most desirable employers. Ranked number 30 overall across all industries, Gap Inc. was at the top of this year’s survey as the primary choice for the next generation of fashion industry employees.

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