Strategy

Surmesur, a custom menswear retailer, has dropped anchor in the United States.    Surmesur, which blends traditional tailoring methods with technological innovation, recently opened its seventh store to date, and first in the United States, in Pittsburgh. It’s the first of several new stores the company plans to open in the coming months, including one in Chicago and other major centers both in the U.S. and in Canada.  

Hhgregg continues to reshape its executive team.    The consumer electronics and appliance chain promoted Kevin Kovacs to CFO. He is assuming the role from Robert Riesbeck, who was recently appointed president and CEO. Since joining Hhgregg in 2009, Kovacs held the roles of VP/controller and director of tax and treasury   In other moves, Hhgregg promoted Sam Johnson to chief retail officer. Since joining Hhgregg in 2010, Johnson has served in the role of senior VP of stores.   

The momentum at Coach Inc. continued in the fourth quarter, as the company reported healthy same-store sales growth at its North American stores and better-than-expected earnings.   

Dick’s Sporting Goods is expanding its footprint in the Houston market.   The retailer is looking to open six stores this fall in the Houston area, up from the five it had previously announced, the Houston Business Journal reported.   In November, General Growth Properties announced it had signed lease agreements with Dick’s to open in five GG shopping centers in Houston: Baybrook Mall, Deebrook Mall, First Colony Mall, The Woodlands Mall, and Willowbrook Mall.

Ikea’s upcoming store in Columbus, Ohio, has begun taking shape.   The company said that the structure’s steel framing has progressed far enough to allow for the installation of Ikea’s iconic blue composite panels. Installing the panels is a construction milestone that keeps the store on track to open in summer 2017.  

The off-price retailer sector will continue to build momentum and outperform the apparel retail segment during the next five years.   That’s according to a new report, "Off-Price Retailers Continue to Build Momentum on Value Appeal,” by Moody's Investors Service. Off-price retailers are anticipated to experience apparel revenue growth of 6% - 8%, outperforming the broader apparel segment by a collective 4% in the timeframe.  

It’s no secret that Abercrombie & Fitch has been developing a new prototype.   The chain will unveil its new look early next year, at Polaris Fashion Place, in Columbus, Ohio. The store will herald a new direction for the brand with a new aesthetic and updated merchandise selections. It will be situated on the lower level near Madewell.     Abercrombie has already introduced a new look for its Hollister store brand.  

Doug McMillon, president and CEO of Wal-Mart Stores, and Mark Lore, co-founder and CEO of Jet.com, discussed Walmart’s acquisition of the online site and other industry topics on CNBC’s “Squawk Box.”