Finance & Capital Management

If the major suppliers of soft goods such as clothing and accessories to retail stores are a bellwether of the economy, then the coming months are looking to provide a jolt as 75% of these suppliers expect retail sales to significantly outpace the gross domestic product for the spring and summer shopping season.

That’s one of the major findings of a new survey conducted by Capital Business Credit.

Former Walgreens and Tyson Foods executive Wade Miquelon was named CFO at Jo-Ann Fabric and Craft Stores.

Jo-Ann said as CFO Miquelon would oversee the retailer’s finance organization, real estate, information technology and general counsel.

As it moves to distance itself from the turbulence that marked its past two years, American Apparel Inc. has named three apparel industry executives to its revamped board of directors.

The retailer, which emerged from bankruptcy protection in February, appointed Paul R. Charron, former CEO of Liz Claiborne, as chairman, the Los Angeles Times reported.

Production and shipping delays related to its new collection of modern furniture, which it also has launched as a standalone business, are taking a toll on Restoration Hardware Holdings Inc. as the high-end retailer issued a weak outlook for the current quarter.

Restoration Hardware (RH) reported its fourth-quarter earnings slid to $33.3 million, or 79 cents a share, from $42.5 million, or $1.02 a share, a year earlier. On an adjusted basis, the company earned 98 cents a share, which fell short of its own projection released in February.

Canada's leading value chain has promoted its head merchant to be the new CEO as the company logs another quarter of impressive sales growth.

Dollarama Inc. has appointed Neil Rossy as president and CEO, effective May 1, 2016. Company founder and current CEO Larry Rossy will continue to play an active role in key areas of Dollarama's business as executive chairman.

Macy’s CEO and other top executives are feeling the pain of the chain’s disappointment financial performance in 2015. The board decided to award no bonuses after the chain fell short of its sales, cash flow and earnings goals, Macy’s said in a regulatory filing, according to Bloomberg. [Bloomberg]

Destination Maternity says its turnaround efforts are working to drive long-term growth despite a decrease in same-store sales during the fourth quarter.

The company said that for the fourth quarter ended Jan. 30, same-store sales decreased 3.5%. The retailer's net loss improved to $3.1 million compared to a net loss of $17 million in the prior year quarter. Net sales were $118.3 million, compared with $121.2 million for the comparable three month in 2015.