Strategy

Abercrombie’s efforts to revive its namesake brand still have a ways to go judging by its fourth quarter performance. But Hollister is on the upswing.    Abercrombie & Fitch Co.’s total revenue in the quarter, ended Jan. 28, fell 7% to $1.04 billion, slightly below expectations.   

Hhgregg is cutting lose its weakest locations.    The struggling chain said it plans to close three distribution facilities and 88 stores as part its effort to improve liquidity and return to profitability. The closings, expected to be completed by mid-April, will leave the retailer with 132 stores.   The announcement comes just days after the New York Stock Exchange delisted Hhgregg for failing to meet the minimum listing requirement, and amid rumors the chain plans to file for bankruptcy protection.

Amazon is making a big commitment to renewable energy.   The online giant announced plans to install solar panels on its fulfillment facilities around the world, including the deployment of large-scale solar systems on rooftops of more than 15 U.S. fulfillment and sortation centers this year.   Amazon plans to deploy solar systems on 50 fulfillment and sortation centers globally by 2020.    

Shoppers just can’t get enough of off-price stores.   On the heels of strong results by TJX Cos. and Ross Stores, Burlington Stores on Thursday turned in a stellar fourth quarter performance. And it also revealed plans to expand its store base.    Burlington’s net income in the quarter, ended January 28, surged 27.1% to $125.6 million, or $1.77 per share. Earnings, adjusted for one-time gains and costs, were $1.78 per share. The results easily topped Wall Street expectations. 

The asset disposition company A&G Realty has entered into a joint venture with a supermarket real estate veteran with the business proposition that better data analysis will help retailers be more proactive in managing real estate portfolios.  

Meet the winners of Chain Store Age’s annual Breakout Retailer Awards at SPECS/2017.    The awards, sponsored by Paint Folks, honors innovative retail and restaurant brands that have crossed the “newbie” line and are well positioned for growth in the coming years.   Here’s a look at the winners, who will discuss their concepts at a panel discussion on Tuesday, March 14, at SPECS:  

Target Corp. has a lot on its plate for the next three years.   Among other initiatives the retailer will open 30 small format stores in 2017, doubling its presence in urban markets and on college campuses. By 2019, Target will operate more than 130 smaller stores.  

Publix Supermarkets’ sales and profit rose in the fourth quarter amid continued expansion.      Publix’s net earnings for the fourth quarter rose 4.5% to $544.5 million, from $521.1 million in the year-ago period.   Sales rose 11.1% to $9.1 billion. (The additional week in the fourth quarter of 2016 increased sales by 7.4%.) Same-store sales increased 2.2%.  

The Conference Board announced a new high for consumer confidence in February, which reached its highest level since July 2001.   The index now stands at 114.8, up from 111.6 in January.  

The competitive apparel market and a touch retail climate overall has claimed another victim.    BCBG Max Azria Group LLC on Wednesday announced that it taken “the next step in the restructuring of its brands and operations” by filing for Chapter 11 of bankruptcy protection. Earlier this month, the company revealed plans to close 120 stores as part of its restructuring efforts.