Finance & Capital Management

Sprouts Farmers Market cited strong top-line sales growth as among the reasons for the retailer’s 4.8% comp increase for the first quarter.

Net sales for the first quarter ended March 29 were $857.5 million, a 19% increase compared to the same period in 2014. Net sales growth was driven by strong performance in new stores opened and a 4.8% increase in same store sales growth, the company said.

Loehmann's has added a new e-commerce chief to help build the next phase of the off-price retailer's online marketplace.

Loehmann's said that Jeffrey Cripe is joining the Loehmann's advisory board. Cripe, who manages e-commerce partnerships and business development at Christie's, has experience in e-commerce, branding, audience development, and strategic partnerships.

Leaders from the toy and baby products industries came together with celebrities in New York City to celebrate the 2015 Toys“R”Us Children’s Fund Gala and raise an astounding $4.6 million for kids.

Emmy and Tony Award-winning comedian Martin Short hosted the event, which also featured a performance by four-time Grammy winner Lenny Kravitz.

St. Louis -- Schnuck Markets will begin construction of a new estimated $100 million, state-of-the-art distribution center at NorthPark in Kinloch in north St. Louis County. The 915,000-sq.-ft. center is expected to be completed in summer 2016.

Phoenix -- Big Shopping Centers USA and Red Development have announced a joint venture partnership to maximize market presence and performance of select U.S. retail properties in the Midwest and West. The alliance seeks to acquire established, first-tier community, lifestyle and power centers with strong tenant line-ups and sales figures that are well positioned in markets throughout the United States.

New York -- Hip online eyewear retailer Warby Parker continues its brick-and-mortar expansion. The company has opened its 12th store to date, in Chicago’s Lincoln Park neighborhood.  

The 2,200-sq.-ft. store is Warby Parker’s first permanent location in the Midwest. It joins locations in cities across the nation, including such as New York, Miami, Dallas and Los Angeles.

New York -- Alibaba Group Holding Limited on Thursday announced that its CEO, Jonathan Lu, will step down and will be replaced by COO Daniel Zhang, effective May 10. Lu will remain on the company's board as vice chairman.

New York -- An early Easter that drew shoppers into stores in March and slowing economic growth helped cut into retailers’ April sales results.

At Costco Wholesale Corp., April same-store sales were flat, slightly below analysts’ estimates, primarily due to the strong U.S. dollar and lower gas prices. Sales at U.S. stores increased 2% for the four weeks ended May 3. Internationally, sales fell 4%.  

Total revenue inched up 2% to $8.75 billion.

New York -- Off-price retailer Loehmann's announced that Jeffrey Cripe is joining the Loehmann's advisory board, as the company builds its online marketplace. Founded in 1921, the company closed its brick-and-mortar stores after its bankruptcy in 2013. Now under new ownership, the brand is being expanded online.

Chicago -- HRC Advisory, a strategic retail advisory firm and unit of Hilco Global, announced that it has promoted Farla Efros, an accomplished retailing and merchandising strategist, to the position of president. She will continue to report to Antony Karabus, CEO of HRC Advisory.