Strategy

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:  

Don’t blame it on the technology.   In a blog post on its site, Amazon explained the reason why Amazon Web Services suffered a four-hour outage on Tuesday, one that caused significant problems at numerous Internet sites, including those operated by retailers.   

Costco Wholesale Corp.’s second quarter profit took a hit amid higher costs. And for the first time since 2011, the retailer is raising the cost of entry into its stores.   As of June 1, Costco’s annual fee for individual and business members will increase by $5.00, to $60. The executive membership fee will go up $10, to $120.    Costco’s net income for the quarter, ended Feb. 12, fell 5.7% to $515 million, or $1.17 per share, below Wall Street expectations.  

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. 

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.   

A month after revealing excessive digital orders caused in-store congestion and canceled orders, Starbucks has come up with a solution.  

A store designed by women and for women. That’s Sport Chek Women, which made its debut on Thursday at CF Chinook Centre, in Calgary.  

CVS Health on Thursday appointed 26-year company veteran Jonathan C. Roberts executive to the new position of executive VP and COO.     As COO, Roberts, who currently serves as president of CVS Caremark, the company's pharmacy benefit management business, will have responsibility for consolidating operational oversight across CVS Health's unique suite of assets.