Strategy

One day after Walmart announced a deeper commitment to domestic sourcing, Whirlpool said it planned to spend $40 million on U.S. manufacturing plant that will result in the creation of 400 jobs by 2018. The investment will double the size of Whirlpool’s plant in Greenville, Ohio, where KitchenAid brand small appliances are made, and bring the total workforce at the facility to about 1,400 employees. The plant has been in operation since 1942, and Whirlpool said it will launch the expansion project following final approval of state and local assistance.

New York — The economy is in better shape than many people think — especially when you look under the hood at some of the parts, CNBC senior analyst Ron Insana told attendees at Chain Store Age’s 50th annual SPECS show. Insana was a keynoter at the event, which was held at the Gaylord Texan Hotel, Grapevine, Texas, March 9 – 12, and attracted retail executives in store planning, construction and facilities. “The United States economy is actually performing quite nicely,” Insana said. “If you look around the world, no one else comes close.”

Sears Hometown and Outlet Stores said fourth-quarter same-store sales declined 3.4% as two of the company’s best known brand had disappointing results. Sales in the fourth quarter declined 4.5% to $602.4 million due to the combination of a 3.4% same-store sales decline and an extra week in the fourth quarter the prior year, which added sales of $36.5 million. The same-store sales decline was made up of a 4% decline at the Hometown division and 1.5% decline at the outlet division.

Denver -- Quiznos on Friday filed for Chapter 11 bankruptcy protection to reduce its debt. The sandwich chain said it filed after reaching a deal to cut its debt by more than $400 million, or about two-thirds. Quiznos said it would continue operating while it works to implement a debt-restructuring plan and make operational improvements.

Amazon plans to open a nearly 1 million-sq.-ft. fulfillment center in Kent, Wash. This will be the company’s fourth fulfillment center in the state. Amazon’s other Washington fulfillment centers are located in Sumner and Bellevue, and a DuPont site is near completion.

New York – Ann Inc., owner of Ann Taylor and Loft, on Friday reported better-than-expected fourth-quarter profit but forecast a lower-than-expected outlook for the year. The retailer also announced a strategic realignment that includes integrating stores and e-commerce and will result in the loss of about 100 corporate jobs.

Seattle -- Amazon said it will open a 1-milllion-sq-.ft. distribution center in Kent, Wash., which will be its fourth in Washington state. IDS Real Estate Group and Clarion Partners are building the site as part of a joint venture. Amazon’s other Washington fulfillment centers are located in Sumner and Bellevue, and a DuPont site is near completion.

Lynnwood, Wash. - Net income in the fourth quarter of fiscal 2013 at Zumiez Inc. increased 17.3% to $26.9 million, from $22.9 million last year. Net sales increased 1.1% to $226.8 million from $224.4 million, although same-store sales dropped 2.2%. Results for the quarter include a $5.8 million benefit related to Zumiez’ acquisition of Blue Tomato. Zumiez plans to open up to 55 new stores during fiscal 2014, including as many as seven in Canada and five in Europe.