Strategy

American Standard Brands president and CEO Jay Gould was appointed to the board of directors of American Standard’s parent company, LIXIL Corporation.

Gould joined American Standard Brands in January 2012.

According to the company, Gould executed a plan that quadrupled the company's EBITA, grew sales by 10% and improved gross margins by 700 basis points.

Coppell, Texas – Alco Stores Inc. reported a net loss of $8.1 million in the first quarter of its fiscal year, up from a loss of $1.7 million in the year-ago period, amid an elimination of a tax benefit. The company also announced its CFO has left the company.

Net sales decreased 4.1% to $104.7 million, compared to $109.2 million in the first quarter of fiscal 2014. Same-store sales, excluding fuel centers, decreased 7.1%. Alco president and CEO Richard Wilson cited several ongoing initiatives as providing promise for future performance.

More than 1-in-4 Rite Aid locations now reflect the latest in healthcare retailing — the company's Wellness store format, the concept that serves as a cornerstone to Rite Aid's overall health-and-wellness solution, John Standley, Rite Aid chairman and CEO, told analysts Thursday morning.

"From a strategic standpoint, it's important to note that our Wellness stores will serve as a primary vehicle for launching innovative merchandising solutions, expanded healthcare offerings and, over the next few years, our relocation and new store program," he said.

Washington, D.C. — Regency Centers plans to redevelop Kings Park Shopping Center in the Northern Virginia town of Burke. The work will include a facelift, enhanced common areas and structural expansion.

Increasing strength in Pier 1 Imports’ e-commerce business translated into better-than-expected sales that fueled the company’s overall financial results for the first quarter.

Total sales for the quarter were $419.1 million, a 6.1% increase versus $394.9 million in the year-ago quarter. Comparable sales increased 6.3% during the quarter, driven by increases in total brand traffic, conversion and higher average ticket. E-commerce sales exceeded the company’s estimates, reaching 9% of sales for the quarter.

New York -- Coach plans to shutter about 70 underperforming stores in fiscal 2015, Crain’s New York reported. The retailer, which has been under heavy competitive pressure from Michael Kors and other upscale companies, also gave a disappointing revenue forecast for its current fiscal year.
   

Amazon has thrown its hat into the smartphone ring. At an event in its hometown of Seattle, the online retailer unveiled Fire, the first smartphone it has ever designed.

In a marketplace that’s already crowded with the latest iPhones, Andriods and Blackberrys, Amazon has invested in two new technologies — Dynamic Perspective and Firefly — that make Fire a compelling product that won’t get lost in the mix.  

Fremont, Calif. -- The Men's Wearhouse has completed its acquisition of one-time-rival Jos. A. Bank Clothiers. The combined company has more than 1,700 stores, approximately 26,000 employees and sales of $3.5 billion on a pro forma basis.

The final price tag to combine the two retailers was $1.8 billion, or $65 per share.