Strategy

Destination Maternity Corp. saw its loss widen in the fourth quarter and the full year amid declining same-store sales and its exit from several businesses.     The maternity clothing retailer reported a loss $32.8 million, which included a $27.8 million non-cash income tax charge. Its adjusted net loss was $3.2 million, compared to an adjusted net loss of $1.5 million in the year-ago period.   Revenue totaled $100.2 million in the period. Same-store sales fell 7.8%.   

The struggles of brick-and-mortar retailers have dominated industry headlines over the past few months with an unprecedented number of store closings announced. However, while the bad news has come from all corners, specialty retailers as well as general merchandisers, it has been department stores that have perhaps attracted the most headlines.  

Petco continues to grow its retail presence.    The specialty retailer of pet food, supplies and services, will open five new stores in April.    In addition to featuring a wide range of pet food, toys and accessories, each new store will include dog training areas, adoption centers and grooming salons.    Last year, Petco opened 71 new stores and one new Unleashed by Petco store, and remodeled 41 locations.   

With its profits taking a hit in 2016, Prada Group is placing a stronger focus on digital.   The luxury goods retailer’s net revenue for the year ended January 31, 2017, while revenue across its retail channel plunged13%.    Based on these results, the company plans to focus on more digital initiatives to better respond to an evolving marketplace, according to Prada’s CEO, Patrizio Bertelli.  

Walmart recently announced that, starting April 19, it would order a discount on select items that are ordered online and then picked up in the store. Here is commentary on what the new initiative means for Walmart in terms of last-mile delivery as well as its competitors.  

NewMark Merrill’s decade-long quest to open a shopping center outside of San Bernardino became reality with the opening of its Walmart Supercenter anchor.   The 239,552-sq.-ft. Rialto Marketplace is due to be fully operational in June, when the doors will open for tenants including Starbuck’s, Sprint, Chipotle, Les Schwab Tires, Carl’s Jr., and Ono Hawaiian BBQ.  

Shoppers hoping to get some great bargains at the 138 stores J.C. Penney has slated for closure will have to wait a little while longer.   The retailer told CNBC that due to improving traffic and better-than-expected sales at the locations on the closure list it has postponed the liquidation sales and shutterings.   The new closure date for the stores is now July 31, which is about six weeks later than Penney originally planned, the report said.   

American Girl is building a new and bigger flagship in the Big Apple.     The specialty retailer will open a new, 40,000-sq.-ft. American Girl Place at 75 Rockefeller Plaza in Manhattan. The new location, scheduled to open in fall 2017, will replace the brand’s existing flagship at 609 Fifth Avenue.    The new location is being built by Englewood Construction, and is the 12th project Englewood has completed for American Girl.