Strategy

Lumber Liquidators increased its net income in the third quarter of fiscal 2013 58.4% to $20.4 million, from $12.9 million in the year-ago period.

Net sales grew 24.5% to $254.3 million, from $204.3 million in the same period a year earlier. Same-store sales grew 17.4%, driven by a 9.8% increase in the number of customers invoiced and a 6.9% increase in the average sale.  

New York -- The three rules of retail real estate are the same as the three rules of any other type of real estate – “location, location, location.” But each retail chain has its own unique requirements for what makes a good location, and Charlotte, N.C.-based Bojangles’ Restaurants Inc. is getting some technical assistance in determining the best spots for new stores based on factors such as who lives nearby.

Scouting the Best Locations

Starbucks previewed the first-of-its-kind Teavana Fine Teas + Tea Bar in New York City’s Upper East Side. The tea bar offers a curated assortment of handcrafted tea beverages, premium loose leaf teas, tea-inspired food offerings and tea merchandise.

It's been almost one year since Starbucks acquired Teavana, and the company plans to expand the new tea bar format to additional stores throughout the course of the next year.

St. Louis -- Build-A-Bear Workshop plans an in-store shop in the FAO Schwarz  Fifth Avenue flagship in Manhattan. Opening in early November, the location is the first Build-A-Bear Workshop store-within-a-store in the United States. (FAO Schwarz is owned by Toys “R” Us.)

Chicago — Regency Centers Corp. has announced the development of Glen Gate, a 102,876-sq.-ft. shopping center located in Glenview, Ill., a North Shore suburb of Chicago. A 75,564-sq.-ft. Mariano’s Fresh Market, slated to open next fall, will anchor the development. The center will have one out-lot with an additional 24,000 sq. ft. for retail and restaurants.

Following third quarter results, Whirlpool is increasing its full-year diluted earnings per share guidance to $10.45 to $10.65 from the previous range of $10.05 to $10.55, and its full-year adjusted earnings per share to $9.90 to $10.10 from the previous range of $9.50 to $10.

The company reported net earnings of $196 million for the quarter, or $2.42 per diluted share, compared to net earnings of $74 million, or $0.94 per diluted share, reported during the same period last year.

Framingham, Mass. – IDC Retail Insights research director Leslie Hand has been named to the 2013 Top 50 Retail Influencers list developed by point-of-sale, inventory and customer loyalty software provider Vend. Hand has spent the last 25-plus years in the retail technology industry, and prior to joining IDC Retail Insights was the director of global RIFD strategy for Ahold.

Mooresville, N.C. - The U.S. Environmental Protection Agency (EPA) has awarded Lowe's Companies, Inc. the highest honors for industry leadership in its SmartWay and WaterSense programs. On Oct. 22, Lowe's received the 2013 SmartWay Excellence Award for its environmental performance in the freight transportation industry. This month, the EPA also recognized Lowe's with a 2013 WaterSense Sustained Excellence award for its long-standing efforts to educate consumers about water-efficient products and practices.