Strategy

Corte Madera, Calif. – RH (Restoration Hardware Holdings) has opened RH Greenwich, The Gallery at the Historic Post Office, in Greenwich, Connecticut. After years of planning and preservation to honor its singular place in the town’s cultural landscape, the building’s exterior has been completely restored, while the interior has been reimagined and a second story conservatory and rooftop park has been added.

Minneapolis – Best Buy Co. Inc. swung to a net profit in the first quarter of fiscal 2015 from a net loss in the same period a year earlier, but missed estimates with a drop in sales. The retailer posted net income of $461 million, a big turnaround from a net loss of $81 million.

Stein Mart has named Sara Meza as director of e-commerce. Although Meza came on board in April — after a 12-year tenure at Belk where she led the original launch of the retailer’s website business — the company made the announcement in conjunction with solid first-quarter results.

Net income for the quarter decreased to $14.1 million, or $0.31 per diluted share, from a net income of $14.7 million, or $0.33 per diluted share in 2013.

Fremont, Calif. - The Men's Wearhouse has extended its all-cash tender offer for $65 per share for all of the currently outstanding shares of common stock of Jos. A. Bank to June 5, unless further extended. The tender offer was previously set to expire on May 21.

The Institute for Veterans and Military Families (IVMF) received a $450,000 grant from Sam’s Club to support women veteran entrepreneurs through its business management training program V-WISE, Veteran Women Igniting the Spirit of Entrepreneurship.

York, Pa. – Adverse weather that lasted longer into the first quarter of fiscal 2014 than anticipated bit into income and sales at The Bon-Ton Stores Inc. Net loss grew to $31.5 million from $26.6 million a year earlier, and net sales dropped 6% to $607.46 million from $647.9 million.

Same-store sales declined 5.8%. In addition to weather, the extinguishment of mortgage and senior note redemption debt also contributed to net loss growth.

Overstock.com released a statement lamenting the decision of Senate Judiciary Committee Chairman Patrick Leahy to delay patent troll litigation reform legislation — the same legislation requested by President Obama and passed by the House of Representatives.

Columbus, Ohio – L Brands had a successful start to fiscal 2014. The company reported a 10% increase in net income to $156.9 million in the first quarter from $142.5 million the first quarter of the previous fiscal year.

Net sales rose 5% to $2.39 billion from $2.27 billion, and same-store sales grew 2% across its retail banners. Higher pretax income and operating income helped boost net income, while especially strong growth in sales at the Victoria’s Secret banner helped drive overall net sales growth.