Finance & Capital Management

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.

Philadelphia -- CBRE Group announced that Steven H. Gartner has been appointed to managing director of retail for the Greater Pennsylvania Region. Gartner will lead CBRE’s retail brokerage platform throughout the region, driving growth and creating a cohesive and collaborative service offering for retail clients, as well as continue to actively maintain strategic client relationships both in Philadelphia and across the country.

Haverty Furniture Company has been around since the late 19th century, but the specialty furniture retailer has a decidedly 21st century approach to energy management.

“We want Havertys to be the company everyone wants to come work for,” said Rawson Haverty Jr., senior VP of real estate and development, Havertys, during a session at Chain Store Age’s SPECS 2016 Conference, March 13 – 15, in Dallas.

Ross Stores has ambitious store expansion plans for 2016—and sees plenty of potential beyond that.

The off-price retailer opened a total of 22 Ross Dress for Less and six dd’s Discounts stores across 15 different states in February and March.

The new locations are part of the company’s 2016 expansion plans to add approximately 70 Ross and 20 dd’s Discounts locations throughout the year.

Conn’s is planning to make investments in technology, credit and personnel in 2016 as the retailer looks to expand its footprint and improve profitability. 

For the fourth quarter ended Jan. 31 the retailer said revenues increased 7% to $456.8 million. Same store sales decreased 1.7%. Conn's said its credit segment operating loss increased from $11.3 million to $19.3 million, driven primarily by bad debts.

A court ruling struck down a provision adopted by Puerto Rico last year that tripled the tax revenue the debt-laden island extracted from Walmart, Reuters reported. [Reuters]

In a history-making move that would have a direct impact on the retail industry and food service sector, the state of California has moved closer to raising the statewide minimum wage to $15 an hour by 2022.