Strategy

San Francisco – Williams-Sonoma Inc. exceeded Wall Street expectations with earnings and sales in the fiscal 2015 first quarter. From the same period the previous year, net income declined 3% to $44.79 million from $46.16 million.

Increases in cost of goods sold and selling, general and administrative (SG&A) expenses helped reduce net income. Net revenues rose 6% to $1.03 billion from $973.33 million. The West Elm banner had particularly strong sales growth.

Fort Myers, Fla. – Chico’s FAS announced that CEO and president David F. Dyer intends to retire in spring 2016, at the end of the company’s fiscal year.

He will remain in his current role until a successor is appointed, and will remain on the board in the newly-created role of vice chairman until June 2016. The women’s specialty apparel retailer has retained executive search firm Herbert Mines Associates to assist in finding a new chief executive.

Mississauga, Canada – Ikea plans to open a 397,000-sq.-ft. distribution center in Mississauga Ontario in October. The new facility will fulfil customer orders from the four existing Toronto-area stores and e-commerce purchases, as well as support growth plans for Ikea Canada to meet customers in new and existing markets.

The location will bring Ikea closer to the customer, which the retailer hopes will allow for an improved logistical setup enabling an increased range offer and shorter lead-times while contributing to sustainability goals.

New York -- Merchandise misfires are the bane of specialty apparel retailers. Most recently, Anthropologie, a division of Urban Outfitters, missed big time with its spring collection of cocktail dresses and maxis, which customers apparently found too pricey and/or not to their liking.

Read more

The CEO of Lumber Liquidators has resigned just a few months after the company became embroiled in an investigation over wood products imported from China.

The company said Robert Lynch resigned “unexpectedly” and that it intends to commence a national search for Lynch's replacement. In the interim, Thomas D. Sullivan, the company's founder, will serve as the acting chief executive officer of the company.

Commerce, Calif. -- Smart & Final launched a new branding campaign, which will place the ampersand ("&") -- already in the 144-year old company's name -- front and center to showcase the company's relationship with both its customers and the communities it serves.

Mooresville, N.C. -- Lowe's Companies reported an increase in profit and sales in the first quarter but its performance in both metrics fell short of Wall Street estimates. The home furnishings retailer reported its results a day after rival Home Depot reported earnings and revenue that topped estimates.

Lowe’s net income increased 7.8% to $673 million in the quarter ended May 1, from $624 million a year earlier.

Net sales rose 5.4% to $14.13 billion. Total same-store sales were up 5.2%.

Improved, "costumer-focused" merchandising helped American Eagle Outfitters post record net income in the first quarter.