Finance & Capital Management

BATAVIA, Ill. - Deep-discount grocer Aldi is ramping up its U.S. expansion. The company plans to open 650 new stores across the country, including expanding to Southern California, bringing its total number of U.S. stores to nearly 2,000 by the end of 2018.   

Clothes aren’t the only thing big at Destination XL as evidenced by a double digit third quarter comp increase aided by omnichannel integration.  

Sales at Destination XL increased 5% to $93.6 million, compared with $88.7 million in the prior-year quarter. Same store sales increased 5.5%.  

Lisa Evans has joined Gordmans Stores as EVP and chief merchandising officer as the apparel and home décor retailer looks to restore growth following another disappointing quarter.

Evans appointment to the head merchant role at the 98 store chain was announced in conjunction with third quarter results that saw same store sales decline 7.8% on top of a prior year decline of 6.1%. Net sales declined 3.1% to $146.7 million. The company reported a net loss of $1.9 million, or 10 cents a share, compared to a prior year profit of $1.1 million, or 6 cents a share.

Boston - X Team International, an international alliance of retail real estate advisors with expertise in more than 45 major markets throughout the U.S. and Canada, released third quarter transactional volumes totaling $746 million, bringing its year-to-date transactional volume to more than $2.24 billion.   

Increased digital integration at GameStop is driving engagement with customers, but the delayed launch of a popular video game negatively impacted third quarter sales and made it hard for management to accurately forecast holiday sales.

The launch of Assassins Creed Unity got pushed back from a planned October launch and that proved a huge headwind for GamesStop which reported a 2.3% decline in same store sales for the quarter ended Nov. 1. Total sales for the company declined 0.7% to $2.11 billion.

FOOTHILL RANCH, Calif. - The Wet Seal announced that Thomas R. Hillebrandt will assume the role of interim CFO, effective December 1, 2014, concurrent with the previously announced resignation of Steven H. Benrubi, the company’s current CFO.   Hillebrandt has served as VP and corporate controller at Wet Seal since September 2013.   

New York – Ann Inc. beat Wall Street expectations for the third quarter with net income of $29.9 million, down 27% from $41.2 million the same quarter a year earlier. Pre-tax and after-tax charges associated with the closure of the Madison Avenue Ann Taylor store helped drive down net income.  

New Albany, Ohio - Abercrombie & Fitch Co. has entered into a franchise agreement with Grupo AXO to establish a retail store presence in Mexico. The franchise arrangement, the first in the company`s history, will encompass both the Abercrombie & Fitch and Hollister brands.