Strategy

Pittsburgh – GNC Holdings Inc. demonstrated some weakness during the first quarter of fiscal 2015 with shrinking profit and revenue. Net income dropped 9% to $63.27 million from $69.9 million a year earlier, driven by rising selling, general and administrative (SG&A) expenses.

Net revenue fell slightly to $670.25 million from $674.46 million. Same-store sales decreased 4.1% in domestic company-owned stores (including GNC.com sales). In domestic franchise locations, same-store sales decreased 1.5%.

The largest economic development project in Bridgeport, Connecticut, since the Industrial Revolution

Steelpointe Harbor in Bridgeport, Connecticut, is that city’s largest economic development project since the Industrial Revolution. Don’t believe it?

Despite claims that e-commerce will overtake traditional retail space, physical store locations are still attractive to retailers. In fact, they plan to open over 76,000 stores in the next 24 months, according to RBC Capital Markets data. And while several major retail closings have been announced this year, other retailers are stepping up expansion plans for new stores and concepts.

Growing retailers are all about the niche lifestyle — fast fashion, food, fitness and pharmacy — and focus on what consumers care about most, including value, quality, health and the environment.

El Segundo, Calif. – Big 5 Sporting Goods Corp. kicked off fiscal 2015 with a strong performance in the first quarter. Net income grew 6% year-over-year to $2.3 million from $2.1 million, and would have grown more if not for increased expenses relating to wages and benefits, new stores, and a legal settlement.

Big 5 plans to open approximately 10 net new stores in fiscal 2015, including three in the second quarter.

Net sales climbed 5% to $243.6 million from $231.3 million, aided by a 3.9% increase in same-store sales.

Walmart CEO Doug McMillon was in Beijing on Wednesday, where he put a finer point on a previously announced international expansion plan that will include a blend of 115 new stores, remodels and select closures in the world’s second largest economy.

McMillon and Walmart Asia CEO Scott Price participated in a press conference in Beijing, where the emphasis was on the retailer’s physical expansion in a market where overall economic rates of growth have been decelerating with little mention of e-commerce.

Minneapolis – Doug Baker, CEO of environmental technology firm Ecolab, has been named by Target Corp. as lead independent director of the Target board. Baker, who already serves as an independent director for Target, will replace current independent director Jim Johnson, who is retiring from the board in June after almost 20 years.

The National Retail Federation issued a statement Wednesday supporting patent reform legislation seeking to protect retailers and other businesses from overly litigious patent trolls.

Plano, Texas -- J.C. Penney Company has named consumer marketing executive and board member Mary Beth West as executive VP and chief customer and marketing officer, effective June 1. She replaces Debra Berman, who resigned as CMO after less than two years with the retailer.  West will be stepping down from the board to assume the new role.