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Strategy

  • Ann Taylor to make Canadian debut

    New York -- Ann Inc. announced Thursday that it will open two stores in Toronto, in fall 2012, marking the apparel retailer’s first foray outside the United States.

    “Toronto is the perfect location to open our first international stores. It is a beautiful city filled with modern, sophisticated women who lead busy lives, and we are excited to bring a trusted fashion destination that offers great style as well as incredible versatility,” said head designer Lisa Axelson.

  • Williams-Sonoma Q1 earnings slip, raises outlook

    San Francisco -- Williams-Sonoma Inc. reported Thursday that first-quarter profit dipped to $30.7 million, from $31.6 million last year, but results topped Wall Street estimates and the retailer has raised its full-year earnings forecast.

    Sales increased 6% to $817.6 million, also surpassing analysts’ estimates of $811.7 million. Same-store sales grew 5.4% overall, driven by strength from Pottery Barn (up 9.1%) and West Elm (up 22.1%).

  • Red Mango makes state debut at Galleria at Fort Lauderdale

    Fort Lauderdale, Fla. -- Yogurt purveyor Red Mango said it will open its first Florida mall location at The Galleria at Fort Lauderdale.

    The new location will be near Dillard’s on the upper Palm Court level. The Broward County mall is anchored by Neiman Marcus, Macy’s and Dillard’s.

  • Opus announces final tenant for Phase I of Shoppes at Fox River

    Milwaukee -- The Milwaukee office of Opus Development Corp. said that Hallmark Gold Crown will occupy the final space of its Shoppes at Fox River Phase I retail development in Waukesha, Wis.

    The addition of Hallmark makes the 273,000-sq.-ft. Phase I 100% occupied, including a 132,000-sq.-ft. Target and a 60,000-sq.-ft. LEED-Silver certified Pick ‘n Save grocery store.

  • Simon talks leverage, growth at retail conference

    Walmart U.S. CEO Bill Simon delivered an optimistic message about Walmart U.S.’s performance during the first quarter and its potential for the coming year during a presentation at a Morgan Stanley conference in Boston Wednesday. Ahead of the Walmart’s upcoming shareholders’ meeting, Simon talked about leveraging a more efficient supply chain to drive costs down, lower prices and improve traffic and shared insights on the company’s plans for growth in the second quarter and beyond.

  • Chestnut Hill Shopping Center, Chestnut Hill, Mass.

    National Amusements said it will open a six-screen Cinema de Lux at the Chestnut Hill Shopping Center in March 2013.

    The new theater is designed to deliver a high-luxury experience with a full-service restaurant, premium reserved seating and at-your-seat dining.

    “We’re looking forward to bringing an unparalleled movie going and dining experience to Chestnut Hill,” said Shari Redstone, president of National Amusements.

  • Fred's profit beats in Q1, on track to open up to 28 stores this year

    Memphis, Tenn. -- Fred's Inc. reported Thursday that profit for the quarter ended April 28 rose 9.9% to $10.5 million, compared with $9.5 million in the year-ago period.

    Revenue increased 3.3% to $500.5 million, edging Wall Street’s expected $500.3 million, but same-store sales dipped 0.4%.

    The company opened three new regular stores and four express pharmacy stores during the quarter, as part of its plan to open 22 to 28 stores this year.
     

  • Costco profit rises 19% in Q3, on track to open stores this year

    Issaquah, Wash. -- Costco Wholesale Corp. reported Thursday that net income for the quarter ended May 6 surged 19% to $386 million, from $324 million in the same period last year.

    Revenue rose 8% to $22.3 billion from $20.6 billion, beating Wall Street’s expected $22.1 billion in revenue. Same-store sales increased 5%.

    The company said it plans to open six additional warehouse clubs before the end of fiscal 2012.
     

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