Strategy

Canton, Mass. -- Casual Male Retail Group has opened its eighth DestinationXL (DXL) location to date, in Westport, Conn. DXL is Casual Male’s new superstore format, housing Casual Male’s four existing apparel businesses: Casual Male XL, Rochester Big & Tall, Shoes XL and B&T Direct.

The company plans to open up to 12 DXL stores during the balance of 2011, another 20-30 stores during 2012 and approximately 100 stores over a four to five year period.

New York City -- American Express announced it is launching American Express Merchant Financing, a program that provides qualified merchants with quick and simple access to cash for their business needs. The launch comes as small- and medium-sized businesses (SMBs) struggle with access to capital in today’s tight credit economy.

Framingham, Mass. -- Staples has partnered with Martha Stewart Living Omnimedia to create a new line of home office items that have female appeal.

The line, to be called Martha Stewart Home Office, will be made by Avery Dennison Corp. and will include some 300 products. The items will make its debut in Staples stores in early 2012.

Camp Hill, Pa. -- Rite Aid Corp. reported Thursday that it narrowed its loss in the quarter ended Aug. 27 to $94.7 million, from $199.3 million in the year earlier period.

Revenue rose 1.8% in the quarter to $6.3 billion, and same-store sales – as previously reported – increased 2.2%.

The drugstore retailer has modified its outlook, now expecting smaller losses for fiscal 2012 than originally anticipated.

Washington, D.C. -- The National Retail Federation said Thursday it welcomed legislation that would require the State Department to speed up the visa application process for citizens from three key countries, saying the move would make it easier for tourists and business travelers to spend money in U.S. stores.

Montreal -- Jewelry chain Birks & Mayors said Wednesday that its president and CEO Tom Andruskevich has said he will resign from the company, effective spring 2012, and will continue in a new board role as vice chairman.

His spring 2012 resignation is contingent upon the naming of a successor. He said he is leaving because he wants to pursue “board positions and advisory roles for luxury brands and other high-end companies.”

Andruskevich joined the company in his current capacity in June 1996.
 

Irvine, Calif. -- Pet retailer Passionate Pets said Thursday it has named Keith Martin, former senior VP operations at Petco, to its board of directors.

The company also named Todd Peterson, CPA at KSNE2 Enterprises, to the board.

The company is preparing for an IPO and, according to its president and CEO John Dunn, who worked with Martin at both Petco and Office Depot, the pair is expected to help lead Passionate Pet through the IPO stage.
 

Union N.J. -- Bed Bath & Beyond reported Thursday that net income for the quarter ended Aug. 27 rose 26% to $229.4 million, amid improved sales and contained costs. Sales for the quarter rose 8.3% to $2.3 billion, and same-store sales increased 5.6%.

New York City -- Express said Thursday that it has opened its first Canadian location, a 10,000-sq.-ft. store at Fairview Mall in Toronto.

The retailer said it plans to open a total six stores in Canada by the end of 2011, and an additional 50 stores across the country over the next five years.

In November, Express will have three locations opening in Calgary at Southcentre, Chinook Centre and Market Mall as well as an additional store in Toronto at Square One.

When Quincy, Mass.’s new downtown shopping district is officially unveiled, the City will host some of America’s premier retail destinations — thanks to a first-of-its kind joint venture between Street-Works Development and National Realty and Development Corp., based in Purchase, N.Y.

The partnership was announced on Sept. 21 by the City of Quincy, Street-Works and NRDC.