Strategy

Neiman Marcus reported modest sales growth and a reduced loss for its recently ended fourth quarter as the operator of 85 stores eyes an initial public stock offering and a bright omnichannel future.
 

Smart & Final celebrated the one year anniversary of its public stock offering by telling investors a growth story about differentiation and new store expansion.
 
Smart & Final, a uniquely positioned operator of 266 warehouse style stores, has plans to open 100 new stores in the Western United States during the next four years. CEO Dave Hirz dropped that bombshell while he and other senior members of the company were at the New York Stock Exchange to ring the opening bell to commemorate the one year anniversary of the company’s listing.

The nation’s leading automotive retailer ended its most recent fiscal year the same way it has for the past nine years – with double-digit profit growth and a favorable outlook for the coming year.

Macy’s Inc. relatively new to the outlet sector but it’s making up for lost time.

On the heels of the debut of its Macy’s Backstage off-price format and the news that it would close up to 40 underperforming namesake stores, the retailer announced it will open two Bloomingdale’s Outlet stores in November, at The Shops at Liberty Place in Philadelphia, and at Westfield Mission Valley in San Diego.

An innovative cause marketing initiative involving Nordstrom’s Treasure&Bond brand is being expanded to more merchandise categories, and non-profit beneficiaries couldn’t be happier.

Kroger’s annual Leadership Summit will begin in unconventional fashion when thousands of employees form a human breast cancer awareness ribbon Sept. 29 on the field of Paul Brown Stadium in Cincinnati.

Dallas -- Cypress Equities Cos. announced that it has hired Lance Taylor, director of asset management.

Taylor brings 25 years of experience in commercial real estate with varied responsibilities that include underwriting, acquisition, asset management, leasing, land development, receivership and dispositions. Lance’s background includes Archon Group, Deutsche Asset & Wealth Management, Jones Lang LaSalle America’s, Inc. and Stream Realty Partners, L.P.

Steinmart didn’t admit wrongdoing and the Securities and Exchange Commission didn’t bring any charges, but concluding a nearly five year old accounting investigation still cost the company $800,000.

An $800,000 fine may not sound like much to retailers with annual sales in the billions, but Steinmart is relatively small, generating sales of $311 million from 269 stores in the second quarter. An $800,000 fine represents 20% of the company’s net income for the period.

7-Eleven Inc. is targeting cash-using consumers with a new mobile bill payment service. The convenience retailer is partnering with financial services technology company PayNearMe to launch the 7-Eleven Bill Pay app.

A planned secondary stock offering by Sportsman’s Warehouse Holdings means the rapidly expanding outdoor retailer no longer meets the definition of a “controlled company” but the private equity firm that brought the company public last year will still own a huge stake.