Strategy

Managing one partner can make retail design and construction that much easier.  Meet John Noonan with Icon, as he discusses how Icon’s three service offerings -- signage and graphics, self-perform sign & lighting maintenance, and remodel/refresh construction services– can add ease, speed and profitability to a retail rollout, even in an open-store environment.

Chicago - Potbelly Corp. has named Michael Coyne as its new CFO, effective May 1. Coyne will oversee all financial functions and will also be charged with positively impacting Potbelly's analytical, productivity, and risk assessment capabilities.

Fort Worth, Texas – Pier 1 Imports Inc. on Thursday reported a declining profit for its fourth quarter and also announced that it plans to close 100 stores as part of a three-year real estate optimization plan.

Pier 1 reported net income of $33.1 million in the fourth quarter of fiscal 2015, down 22% from $42.6 million the same quarter a year earlier.  Expenses related to the retirement of the company’s former CFO, as well as increased selling, general and administrative (SG&A) expenses, contributed to the decrease in profit.

An early Easter helped Stein Mart post an impressive 7.9% boost in same store sales for the first quarter.

Stein Mart reported sales of $244.4 million for the nine weeks ending April 4, a 10.6% increase over that period the year before. The sales growth was especially strong in March, according to the release.

The company reported $155.8 million in sales for the five weeks ending April 4, a 14.2% increase over that time the year before. Same store sales were up 11.2% for March. 

New York - Millennials are not loyal to fashion brands. In fact, a new study from LIM College shows that 45% of those surveyed say nothing can be done to retain them.

The study, “Shopping Trends among 18-25-Year-Olds,” surveyed 275 LIM College students from March 2-9, 2015. Respondents were asked to evaluate the applicability of statements regarding why they may have abandoned what had been their brand of choice in 2013. The top responses were:

1. Availability of desirable new alternatives (64%).

Food has always been an important part of the shopping experience at Ikea, and the retailer is doubling down on that strategy by unveiling a new menu.  

Ikea announced it will be adding more nutritious and sustainable food options to its restaurants, bistros near the checkout, Swedish food markets and co-worker restaurants. The new food strategy highlights how important food is to the chain.

A 38-year Kroger employee who started out in the company bagging groceries at a Cincinnati area store has been promoted to president.