Strategy

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.
 

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.

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.

Framingham, Mass. -- The TJX Cos. on Wednesday reported an 11% rise in fourth quarter profit and said it would raise employee pay above the minimum wage.  It also announced plans to expand into two more global markets.

On a more downbeat note, the off-price giant said it expected a strong dollar to reduce its profit by 5% and the new wage hikes to lower earnings by 4% the year ending Jan. 30, 2016.

Neiman Marcus is taking omnichannel retailing to a whole new level by integrating payment technology into its already successful store app.

The NM Mobile Wallet is the first deployment of a mobile wallet capability created specifically for a retail card partner, enabling customers to quickly and easily make in-store purchases at Neiman Marcus Group stores without their physical credit card. Consumers can enjoy this simplified payment function with transaction authorization and information technology supported by Capital One.

San Jose, Calif. – Almost all retail IT decision-makers feel vulnerable to insider data security threats. According to the 2015 Insider Threat Report from enterprise data security provider Vormetric, 93% of U.S. retail respondents reported they were "somewhat" or more vulnerable to insider threats.

Expense from a pension settlement and higher selling, general and administrative costs drove Havertys into the red for the fourth quarter of fiscal 2014.

Minneapolis – Target Corp. reportedly thinks having a range of organic products matters. According to the Minneapolis Star-Tribune, Target has selected 31 new brands to participate in the second year of its “Made to Matter” program, which promotes new sustainable, organic and natural goods.