Strategy

Staples swung to a loss in its fourth quarter, and said it would close more stores in 2017.   The retailer reported a net loss of $615 million for the quarter ended Jan. 28, or $0.94 per share, compared to a profit of $86 million, or 20 cents per share, for the year-ago period. Adjusted non-GAAP earnings came in at $0.25 per share, one cent below the consensus estimate.  

It’s a done deal.   Private investment firm CriticalPoint Capital on Thursday that it has completed the acquisition of JackRabbit and its respective stores from The Finish Line.   The acquired company, its stores and e-commerce platform will continue to operate under the JackRabbit brand. At the end of 2016, there were 65 JackRabbit and JackRabbit-affiliated stores in 18 states.    

Sears Holding Corp. narrowed its adjusted loss in its fourth quarter, but its revenue continued to erode and its debt obligations continued to mount.   Sales plunged 17% to $6.05 billion in the quarter ended Jan. 28, down from $7.3 billion a year earlier. Although the chain’s reduced store portfolio contributed to the decline, same-store sales fell 10.3%, driven by an 8% drop at Kmart and a 12.3% at Sears.  

The parent of Men's Wearhouse, Jos. A. Bank and other menswear brand reported lower sales in its fourth quarter amid soft traffic across its brands.    Tailored Brands reported sales of $793.3 million in the quarter ended Jan. 28, down from $826 million a year ago. The company closed 232 stores in 2016.    The company lost 62 cents a share in the quarter, more than expected, compared with a loss of $21.86 a share in the same period a year ago.   

The Kroger Co. is preparing to break ground on its newest distribution center.   The grocer is investing $60 million in the 674,000-sq.-ft. depot, which will primarily be used to replenish Kroger’s direct-to-store distribution centers across the eastern half of the country, according to the Northern Kentucky Tribune.  

There’s a lot going on at the company formerly known as Quiksilver.    In a new phase of its turnaround, the company has changed its name to Boardriders, a name designed to reflect the company’s portfolio of action sports brands — Quiksilver, ROXY, and DC Shoes — which are unified by the boardriding culture and heritage.    

More luxury stores opened in London in 2016 than any other city in the world.   The British capital topped the global ranking for new luxury retail store openings in 2016, according to Savills Global Luxury Retail report.    The city saw a total of 41 luxury store openings during the year, (of which 15 were the respective brand’s first ever store in London), followed by Paris, with 36 openings, and New York, with 31. Rounding out the top five were Dubai (31), Hong Kong (25) and Milan (24).  

Retailers are finding unlikely camaraderie in their quest for greater market share: their competitors. With a handful of e-commerce giants continuing their stronghold on consumer pocketbooks, this year’s RILA (Retail Industry Leaders Association) Retail Supply Chain Conference allowed ‘big box’ and traditional retail leaders to come together in pursuit of new ways to stay ahead.   

A new innovation lab is primed to benefit one of the top players in China’s e-commerce marketplace.   Zebra Technologies, Digital China and Chinese e-commerce giant JD.com, which Walmart owns a 12% stake in, have joined forces to develop a state-of-the art facility entitled the "IoT + E-commerce Logistics Lab.”   

Express Inc.’s profit plunged 59% in its fourth quarter amid increased discounting and weak mall traffic.    In reporting its fourth quarter results, the apparel retailer said it plans to improve its merchandise mix through a more curated selection.   Express’ profit decreased 59% to $22.8 million in the quarter ended Jan. 28, in line with expectations, as earnings per share fell to $0.29, from $0.67 in the year-ago period.   .