Consumer Affairs & Relations

Stage Stores Inc. lowered its profit forecast for the year and said it plans to close at least 90 underperforming stores as the retailer invests more on digital.

The retailer said it expects the closures to enhance its capital efficiency, deliver higher productivity and allow it to invest more money in the online sales product mix and technology in general.

Grand Rapids, Mich. – A rival Midwestern grocery chain is reportedly accusing regional mass merchandiser Meijer Inc. of offering unfairly low prices on grocery products. According to the Milwaukee Business Journal, Milwaukee-based law firm Gonzalez Saggio & Harlan has filed five complaints against Meijer from an unnamed client who is grocer with stores in Wisconsin.

Lumber Liquidators has hired a new executive to help it fight off an avalanche of legal troubles that has hammered the flooring retailer.

Reagan era appointee David Stockman is no fan of the current administration or the Federal Reserve’s long-running easy money policy and to make his case against the flawed strategy he singles out four of the biggest names in department store retailing.

Stockman is the Reagan era director of the Office of Management and Budget who became a Wall Street executive and now regularly opines on the troubled state of the economy and looming dangers caused by nearly eight years of zero interest rates he contends have produced all manner of distortions in the economy.

Lowe’s was hoping not to be outshined by Home Depot’s strong financial results, but hopes turned into missed opportunities Wednesday as Lowe's reported disappointing profit growth.

For the second quarter ended July 31, Lowe’s had earnings of $1.13 billion, up from $1.04 billion in the same quarter last year. On a diluted basis, earnings were $1.20 a share, 4 cents below analysts’ estimates. Home Depot reported a much higher profit on Tuesday.

Veteran finance executive and former top Walmart executive Wan Ling Martello has joined the board of directors of Alibaba as the Chinese e-commerce giant eyes growth in the U.S.

New York - Saks Fifth Avenue Off 5th plans to open a new store in spring 2016 at Gateway Shopping Centers in Austin, Texas. The new 50,000-sq.-ft. store will be fashioned in an open, modular layout, and feature a unique and unparalleled selection of designer finds for both men and women.

Specialty retailer Francesca's is losing its head merchant.

CMO Sei Jin Alt is resigning to spend more time with her family and pursue other interests, the company said. The company has initiated a search for a new Chief Merchandising Officer. To facilitate a smooth transition, Alt will remain in her current role until Nov. 20.