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  • Fast-growing Five Below keeps getting bigger

    Extreme-value tween and teen retailer Five Below enters a new market on April 1, with the opening of three stores in Louisiana.

    “Entering Louisiana is an important step as we continue to expand our rapidly growing footprint across the country,” said Joel Anderson, CEO of Five Below, which operates 444 stores in 27 states.

    The stores in Louisiana are located in the towns of Covington, Lafayette, and Slidell. They are included in the 85 new locations Five Below has planned for 2016. In 2015, the chain opened 71 stores.

  • Jo-Ann names former Walgreen exec CFO

    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.

  • Restoration Hardware slips in Q4; sees new brand as $1 billion business

    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.

  • Sales at Claire's fall in Q4

    Claire's Stores blamed currency exchange rates and store cloures for its decrease in revenue in the fourth quarter.

    The specialty retailer said that for the period ended Jan. 30, net sales were $402.6 million, a decrease of $9.8 million, or 2.4% compared to the fiscal 2014 fourth quarter. The company said the decrease was attributable to an unfavorable foreign currency translation effect of non-U.S. net sales, the effect of store closures, decreased shipments to franchisees and a 0.2% decrease in same-store sales.

  • Amazon to add yet another center to sprawling distribution network

    A few days after announcing a new fulfillment center in Edgerton, Kansas, Amazon.com is unveiling plans for another new center that will serve customers a little further west.

    Amazon plans to open a seventh California fulfillment center in San Bernardino, where the company launched its first Golden State fulfillment center in the state in 2012. The retailer currently employs more than 12,000 full-time hourly associates at its six existing California locations and says it will hire more than 1,000 full-time employees in the new San Bernardino facility.

  • American Apparel taps retail vet as chairman

    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.

  • Lululemon strikes familiar growth pose

    To drive growth in 2016 Lululemon will again rely on a rapid pace of store expansion and an e-commerce fueled same-store sales increase after that combination enabled the company to achieve record results and surpass annual sales of $2 billion in 2015.

    Lululemon dramatically increased its selling space last year, adding 57 new stores to a base of 316 stores to end the year with 363 units. The surge in new store construction is understandable given that Lululemon’s sales per square foot of roughly $1,500 is among the highest in retail.

  • Ikea partners with fashion designers to launch collections

    Ikea has formed an unprecedented partnership with fashion designers to launch new limited edition collections in Canada.

    Between April and September, Ikea will be launching three new collections created in collaboration with fashion designers from across Europe. The move marks the first time that Ikea has teamed up with fashion designers to create collections that respond directly to current trends and fuse various influences to give customers cutting-edge design at affordable prices.

  • Dollarama names founder's son as new CEO as sales surge

    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.

  • Conn's to open new stores, names new chairman

    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.

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