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Kroger Q4 profit beats Street

BY Marianne Wilson

Cincinnati — The Kroger Co. on Thursday reported a better-than-expected profit for its fourth quarter profit amid a surge in sales.

For the period ending Feb. 2, Kroger earned $461.5 million, compared to the year ago period when the company reported a loss of $306.9 million as pension costs dragged down results.

Revenue rose 12.8% to $24.2 billion. Same-store sales increased 3% for the quarter, excluding fuel. After adjusting for the extra week in the fourth quarter, total sales increased by 3.7% over the fourth quarter of fiscal 2011.

For the full 2012 fiscal year, total sales increased to $96.8 billion or 7.1% compared with the prior fiscal year. After adjusting for the extra week in fiscal 2012, total sales increased to $94.8 billion or 4.9% compared with the prior fiscal year.

Excluding fuel, total sales increased 6% over the same period last year. Further adjusting for the extra week, total sales excluding fuel increased 4%.

Net earnings for fiscal year 2012 totaled $1.50 billion.

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buangsila001 says:
Mar-14-2013 05:20 am

It nice to hear that although the economy is not doing well, still Kroger Co. increases their sales. JKaleFlagg

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PetSmart Q4 profit up 31%; outlook disappoints

BY Staff Writer

Phoenix — PetSmart Inc. reported a 31% increase in its fiscal fourth-quarter profit, helped by an extra week of sales. But its forecast for this year disappointed investors.

The company earned $134 million for the quarter ended Feb. 3, up from $102 million in the year-ago period.

Revenue rose 15% to $1.88 billion from $1.64 billion, helped by an extra week of sales in the more recent quarter. Same-store sales rose 4.6%.

For the full year, PetSmart’s revenue rose 11% to $6.8 billion.

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Sycamore Partners to acquire Hot Topic for $600 million

BY Marianne Wilson

City of Industry, Calif. — Hot Topic announced it has agreed to be acquired by New York-based private equity firm Sycamore Partners for $14.00 per share in cash, or a total of approximately $600 million.

The agreement, unanimously approved by Hot Topic’s board of directors, represents a premium of approximately 30% over Hot Topic’s closing stock price on March 6, 2013.

“We are pleased that this transaction will allow us to deliver positive results for our shareholders," said Hot Topic CEO Lisa Harper. "In addition, we are very excited about the future growth for the company and know that Sycamore Partners will provide great resources and expertise to us as we operate as a private company.”

As of February 2, 2013, Hot Topic operated 618 namesake stores in all 50 states, Puerto Rico and Canada; 190 Torrid stores; and five Blackheart stores.

Sycamore Partners acquired Talbot’s in 2012.

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