Strategy

Gordmans Stores new CEO Andy Hall is looking to execute a turnaround at the off price department store chain where weak sales trends and losses indicate he is in for a big challenge.
 

San Antonio, Texas - Tryperion Partners, a private real estate investment firm, has acquired Gateway Plaza, a 97% occupied, 138,510-sq.-ft. community shopping center anchored by Burlington Coat Factory that is located in San Antonio’s burgeoning metropolitan area. The acquisition, which is Tryperion’s second of a San Antonio REO property in less than a year, includes additional land for future development.
 

Fort Worth, Texas -- RadioShack is partnering with Defense Mobile Corp., a Connecticut-based veterans mobile service company to be the exclusive national retailer for Defense Mobile's new nationwide 4G LTE mobile services.

RadioShack will begin offering Defense Mobile's branch branded mobile services exclusively to the 51.6 million members of the U.S. military community, including those actively serving (including members of the Reserve and National Guard), veterans and their family members, planned for September.

Monroe, Mich. -- La-Z-Boy Incorporated announced the appointments of two executive officers. Doug Collier has been named senior VP of La-Z-Boy, chief marketing officer and president, international, and Darrell Edwards has been named senior VP of La-Z-Boy and chief supply chain officer.

Collier rejoined La-Z-Boy Incorporated in June 2007 after two years with Select Comfort as chief marketing officer and senior VP marketing. Prior to Select Comfort, Collier held various leadership positions at La-Z-Boy from 2002 through 2005.

Destination XL president and CEO David Levin credited increased traffic and higher conversion rates for helping drive sales in the second quarter.

Although charges related to the decision by Destination XL to exit the Sears Canada Direct business resulted in the retailer’s net loss growing to $4 million in the quarter, from $1.6 million a year earlier, total sales fared better, increasing 6% to $103.7 million, compared with $98 million in the second quarter of fiscal 2013. Same-store sales rose 7%.

Hamilton, Bermuda – Sixty-five days of performance from its new Zale division cut net income at Signet Jewelers Ltd. but boosted sales at Signet Jewelers Ltd. in the second quarter of fiscal 2015. Expenses related to the Zale acquisition helped reduced net income 13% to $58 million, from $67.4 million a year earlier.

New Albany, Ohio – Challenged by fast-fashion competitors and teens more interested in technology than clothing, Abercrombie & Fitch reported on Thursday that its revenue decreased 5.8% to $890.6 million in the second quarter, missing Wall Street projections. Its income, however, beat estimates, and rose 13% to $12.9 million, from $11.4 million a year earlier. The company cited an ongoing profit improvement initiative as driving its net income growth.

Solid comparable sales gains and a strong topline performance in Genesco’s direct businesses were not enough to offset a sales and gross margin shortfall versus plan at the company’s Lids Sports Group, prompting the company to lower its guidance for the full fiscal year.

The company reported earnings from continuing operations for the second quarter ended Aug. 2 of $4.8 million, or $0.20 per diluted share, compared to earnings from continuing operations of $8.5 million, or $0.36 per diluted share, for the second quarter ended August 3, 2013.