Finance & Capital Management

Signet Jewelers is already the world’s largest retailer of diamond jewelry and it plans to get even bigger in 2016 by accelerating new store and omnichannel growth.
 
Operating stores under banners such as Kay, Jared and Zale, Signet reported a 4.9% fourth quarter same-store sales increase, better than expected profits and said it would open more new stores in 2016 than it previously indicated.
 

The Finish Line Inc. says its efforts to improve digital fulfillment rates are paying off, as the sporting goods retailer posted an increase in same-store sales in the fourth quarter.

For the fourth quarter ended Feb. 27, consolidated net sales at the Finish Line were $580.3 million, an increase of 5.2% over the prior year period. Same-store sales increased 4.6%. Non-GAAP diluted earnings per share, which primarily excludes the impact from the write-off of technology assets and store impairment charges, were 83 cents.

Ross Dress for Less opened a store in Sevierville, Tennessee, on March 5.

The 25,000-sq.-ft. store is located in Sevierville Commons, 20 miles southeast of Knoxville at the southeast corner of Winfield Dunn Parkway and Old Douglas Dam Road.

The opening is part of the retailer’s 2016 expansion program, totaling about 70 new locations during the year.

Five Below is accelerating new store growth again this year.

The tween and teen retailer shared a long-range profit forecast which indicates it expects accelerating growth to be a recurring theme. It plans to open 85 new stores this year, adding to its base of 437 units.

Five Below is accelerating new store growth again this year and has shared a long-range profit forecast indicating that the value-oriented teen and tween retailer expects accelerating growth to be a recurring theme.

A net increase of 71 new stores last year – on top of 62 units the prior year – enabled Five Below to increase sales 23.7% to $326.4 million in the fourth quarter and 22.3% to $832 million during the fiscal year ended Jan. 30. Also contributing to the top line growth was a fourth quarter same store sales increase of 3.6% and a full year increase of 3.4%.

Delays in the required certification of payment terminals that accept credit and debit cards with embedded chips are frustrating many retailers, particularly midsized ones, and also costing them as, since Oct. 1, stores that cannot accept chip cards have had to shoulder the cost of fraud — and banks are not shy about passing along the bill, the New York Times reported.

Target Corp. has reached an important milestone in its journey to launching a new retail accelerator in partnership with Boulder, Colorado-based start-up accelerator Techstars.

Target initially announced the new accelerator, expected to launch in June 2016, last October. The retailer has now closed the application process, after receiving applications from more than 500 technology start-ups in 45 countries and 32 states. Ideas submitted include connected toys and virtual fitting rooms.

Francesca’s says its fourth quarter financial results show that the retailer's growth initiatives are bearing fruit, as the company posted a big jump in same-store sales over the holidays.

For the fourth quarter and fiscal year ended Jan. 30, same-store sales at Francesca's increased 11%. Net sales increased 25% to $134.6 million from $107.6 million in the prior year quarter.Net income totaled $14.7 million, or 35 cents diluted earnings per share, compared to $6.0 million, or 14 centsdiluted earnings per share, in the comparable prior year period.