Strategy

Toronto -- Canadian retail giant Hudson’s Bay Co. (HBC) has entered into two blockbuster deals, forming joint ventures with Simon Property Group and Canada’s RioCan Real Estate Investment Trust to target real estate growth opportunities in the United States and Canada. Both ventures are structured to facilitate an IPO at a later date.

The partnerships, which combined are valued at about $3.4 billion at the current exchange, are the latest example of retail companies moving to leverage their valuable real estate assets.

It’s no wonder Macy’s is looking to allocate part of its $1 billion capital expenditure budget into opening off-price stores when you look at the financial results TJX Co. reported for the fourth quarter.

The company reported an 11% increase in profit for the quarter ended Jan. 31. Net sales for the fourth quarter were $8.3 billion, a 6% increase over last year. Same store sales increased 4% over last year’s 3% increase. Net income was $648 million and diluted earnings per share were $.93, a 15% increase over last year’s $.81 per share.

New York - Brooks Brothers has expanded its cloud supply chain strategy using the GT Nexus platform. Since 2007, the retailer has used GT Nexus for procurement and settlement processes, and now will leverage that same data and connectivity to extend supply chain visibility, support international growth and reduce costs.

Redmond Inc., a vertical retailer of agricultural products, is meeting the challenges of providing a seamless customer experience head-on by using a cloud-based WAN from cloud-based networking provider VeloCloud. Connecting stores, distribution centers and warehouses with effective omnichannel capabilities using VeloCloud's cloud-delivered capabilities, Redmond has grown by 800% in the last 10 years as it has evolved into a sophisticated and seamless retail operation.

New York - Coach Inc. is the latest retailer to take a cloudy outlook on e-commerce. The luxury chain has re-platformed its flagship site on the Demandware Commerce Cloud.

Louisville, Ky. - Long John Silver's has named James O'Reilly as CEO. O'Reilly brings to the role more than 20 years of food service executive experience, including his most recent stint as chief brand officer for Sonic Drive-In.

In addition, O'Reilly has served in a variety of domestic and international leadership positions for food service and CPG companies including Einstein Noah Restaurant Group, Yum Brands, and Procter and Gamble.
 

As Dollar Tree prepares to absorb the costs associated with its pending acquisition of Family Dollar, the discounter beat Wall Street estimates of earnings for the fourth quarter.

Dollar Tree said net revenue improved 11% to $2.48 billion. Analysts had projected $1.15 a share in earnings and revenue of $2.47 billion. Dollar Tree said same-store sales rose 5.6% in the quarter and that the number of transactions rose 5%. For the period ended Jan. 31, Dollar Tree posted a profit of $206.6 million, or $1 a share, down from $213 million, or $1.02 a share, a year earlier.

Toronto – Sears Canada Inc. swung from profit to loss in a dismal fourth quarter of fiscal 2014. The retailer reported a net loss of $123.6 million in the fourth quarter of fiscal 2014, compared to net income of $373.7 million in the same period a year earlier.

The net loss included a pre-tax asset impairment charge of $99.3 million related to leasehold improvements in full-line and Hometown stores, and intangible assets. In addition, the net income a year earlier included several one-time tax gains, real estate sales and legal settlements.