Strategy

Starbucks Corp. is living up to its reputation as one of the nation’s most socially progressive retailers.    On the heels of President Donald Trump's indefinite suspension of Syrian refugees and temporary travel bans that apply to seven predominantly Muslim countries, the coffee giant pledged to hire 10,000 refugees to work at its stores around the world during the next five years.  

A retail veteran is leaving Brooks Brothers to join Destination XL Group.   The men’s specialty apparel retailer has named Sahal Laher as its senior VP, chief digital and information officer, effective Monday, Jan. 30.   Laher, Brooks Brothers’ former executive VP of digital innovation and technology and global CIO, will be the principal architect and leader of DXL’s digital commerce strategies and IT/MIS operations. Laher will also be a member of the company’s executive committee.

It looks like it’s curtain time for The Wet Seal.   The struggling teen retailer is closing its 171 stores, along with its headquarters in Irvine, Calif., after being unable to obtain the necessary cash infusion or find a buyer, according to several media reports.        

The CEO of embattled Gymboree Corp. is stepping down.    The children’s apparel retailer said that Mark Breitbard will step down as chief executive once a successor has been named. He will assume the role of chairman of the board, effective February 1, 2017.  

There is no denying it: Ulta Salon Cosmetics & Fragrance is on a roll.   The retailer will open 100 stores this year, including its first-ever location in Manhattan.   Shares of Ulta rose 38% last year, about four times higher than the Standard & Poor’s 500 Index’s gain, Bloomberg reported, and its annual revenue has quadrupled to $3.9 billion since it went public 10 years ago.  

Starbucks posted disappointing sales growth for its first quarter, citing “a challenging environment for restaurant retailers overall.”   The coffee giant reported that its consolidated net revenues increased 7% in the quarter, ended January 1, 2017, to $5.73 billion, less than analysts had expected.  

Ulta Beauty is launching a new holding company.   On Sunday, Jan. 29, the beginning of the company’s new fiscal year, the retailer will form a new holding company, Ulta Beauty Inc. “Business operations will not change, and the primary purpose of the reorganization is to create a more efficient corporate structure,” the company said.    All outstanding shares of common stock will automatically convert, and the stock will continue to trade under the "ULTA" ticker. 

Tractor Supply Company is celebrating the opening of its 1,600th store, which opened in Brentwood, Calif.   The new store will hold its grand opening on Saturday, Feb. 4th.