Strategy

Coppell, Texas – Bankrupt retailer Alco Stores is going out of business, and closing its 198 stores, a victim of both the economy and the changing retail landscape.   

Enhanced onmichannel capabilities were among the factors that incoming Foot Locker CEO Dick Johnson cited as contributing to the company’s increase in third quarter profits and same store sales.

Profits for the third quarter climbed to $120 million, or 82 cents per share, compared with profits of $104 million, or 70 cents per share, in the prior-year quarter. Third quarter same store sales increased 6.9% to $1.7 billion this year, compared with sales of $1.6 billion for the prior-year period.

Omaha, Neb. – Gordmans Stores Inc. has named Lisa Evans as executive VP and chief merchandising officer effective Jan. 5, 2015. Evans was most recently the executive VP and brand leader for children’s apparel brand Carters, and previously was senior VP and general merchandising manager with Macy's.   Evans’ earlier experience included a variety of senior merchandising leadership roles with the Kaufmann's and Foley's divisions of the former May Company.

NEW YORK - Best Buy on Thursday reported unexpectedly strong and better-than-expected profit and sales for the third quarter, gaining new momentum as it heads into the holiday shopping season.  It was the first time since the third quarter of last year that Best Buy reported positive comparable store sales.

Ross Stores didn’t let a surprisingly strong third quarter comp increase go to its head and maintained a cautious view of consumer spending.

Sales at the company increased 8% to nearly $2.6 billion and same store sales increased 4%. Net income increased to $193 million, or 93 cents a share, from $172 million, or 80 cents a share.

Never underestimate the creativity of unscrupulous customers is the key takeaway for all retailers following Walmart’s effort to implement a liberal price match policy this week.

Irving, Texas - Net income increased 36% to $64 million in the third quarter of fiscal 2014 compared to $47 million in the same quarter last year at The Michaels Companies. A decrease in selling, general and administrative (SG&A) expenses helped boost profits. Net sales increased by 1% to $1.13 billion from $1.12 billion, while same-store sales decreased by 0.8%. Michaels plans to open two new stores in the fourth quarter of fiscal 2014.

Jacksonville, Fla. – Increased selling, general and administrative (SG&A) expenses helped drive Stein Mart Inc. to a net loss of $1.2 million in the third quarter of fiscal 2014, compared to net income of $28,000 in the same quarter a year earlier. Despite this push into the red, Stein Mart plans to open open at least 10 new stores and relocate two stores in 2015, as well as close two stores.