Strategy

Destination XL Group's reinvention seems to be appeaing to more customers as the retailer reported a boost in same store sales in the first quarter.

Nashville, Tenn. – Genesco Inc. reported profit beneath Wall Street expectations in the first quarter of fiscal 2016, with planned inventory reductions and e-commerce-related expenses hindering growth. The retailer reported net earnings of $9.88 million, a 29% decrease from $13.97 million the same period the previous year.

Net sales rose 5% to $661 million from $629 million. Same-store sales grew 4%. Genesco said that West Coast port-related delivery delays impeded same-store sales growth.

GameStop continued to reap rewards from its omnichannel strategy in the first quarter, as the retailer reported an impressive increase in same store sales.

Columbus, Ohio – Big Lots Inc. beat Wall Street predictions for profit and revenue with a solid performance in the first quarter of fiscal 2015. Improved gross margin helped Big Lots increase net income by a factor of roughly 10, to $32.21 million from $3.35 million the same period a year earlier.

Net sales slipped 0.1%, staying at roughly $1.28 billion. A reduction in stores offset same-store sales growth of 1.6%.

Seattle – Amazon.com reportedly plans to launch a line of private label grocery products. According to the Wall Street Journal, Amazon will add items such as milk, cereal, baby food and household cleaners to its Elements private label brand.

Currently, Amazon Prime members can purchase Elements baby wipes, and the retailer previously sold Elements diapers, as well. Amazon has recently applied for trademark protection for about two dozen Elements-branded products including coffee, soup, pasta, water, vitamins, dog food and razors.

The integration of Zales helped Signet Jewelers turn i a robust financial performance in the first quarter.

Grapevine, Texas -- GameStop Corp.’s net income rose to $73.8 million in the first quarter, ended May 2, from $68 million, a year earlier.

Global sales increased to $2.06 billion from $2.00 billion, helped by the releases of games such as "Evolve" and "Mortal Kombat X."
Same-store sales rose 8.6%.

Hudson's Bay Company has appointed a former Toys”R”Us executive and Target veteran as chief of human resources.

Dan Caspersen will be responsible for leading the human resources function across the company, and report directly into the office of the chairman, the company said.