Corporate Governance

Amazon in big solar initiative
Amazon is making a big commitment to renewable energy. The online giant announced plans to install solar panels on its fulfillment facilities around the world, including the deployment of large-scale solar systems on rooftops of more than 15 U.S. fulfillment and sortation centers this year. Amazon plans to deploy solar systems on 50 fulfillment and sortation centers globally by 2020.
Burlington Stores runs strong in Q4; sees plenty of room for expansion
Shoppers just can’t get enough of off-price stores. On the heels of strong results by TJX Cos. and Ross Stores, Burlington Stores on Thursday turned in a stellar fourth quarter performance. And it also revealed plans to expand its store base. Burlington’s net income in the quarter, ended January 28, surged 27.1% to $125.6 million, or $1.77 per share. Earnings, adjusted for one-time gains and costs, were $1.78 per share. The results easily topped Wall Street expectations.

New joint venture promises better data analysis for retail real estate managers

The asset disposition company A&G Realty has entered into a joint venture with a supermarket real estate veteran with the business proposition that better data analysis will help retailers be more proactive in managing real estate portfolios.
SPECS/2017 to honor five growing retail brands

Meet the winners of Chain Store Age’s annual Breakout Retailer Awards at SPECS/2017. The awards, sponsored by Paint Folks, honors innovative retail and restaurant brands that have crossed the “newbie” line and are well positioned for growth in the coming years. Here’s a look at the winners, who will discuss their concepts at a panel discussion on Tuesday, March 14, at SPECS:
Target shares details of $7 billion capital investment plan

Target Corp. has a lot on its plate for the next three years. Among other initiatives the retailer will open 30 small format stores in 2017, doubling its presence in urban markets and on college campuses. By 2019, Target will operate more than 130 smaller stores.
Supermarket retailer turns in solid quarter

Publix Supermarkets’ sales and profit rose in the fourth quarter amid continued expansion. Publix’s net earnings for the fourth quarter rose 4.5% to $544.5 million, from $521.1 million in the year-ago period. Sales rose 11.1% to $9.1 billion. (The additional week in the fourth quarter of 2016 increased sales by 7.4%.) Same-store sales increased 2.2%.
Consumer confidence reaches 15-year high in February

The Conference Board announced a new high for consumer confidence in February, which reached its highest level since July 2001. The index now stands at 114.8, up from 111.6 in January.
Upscale fashion retailer files for bankruptcy

The competitive apparel market and a touch retail climate overall has claimed another victim. BCBG Max Azria Group LLC on Wednesday announced that it taken “the next step in the restructuring of its brands and operations” by filing for Chapter 11 of bankruptcy protection. Earlier this month, the company revealed plans to close 120 stores as part of its restructuring efforts.
GM named for two Fort Worth properties

Trademark Property Co. has named Angela Hall to serve as general manager and marketing director at two of its newest properties in Fort Worth — Waterside and WestBend. Hall recently directed the grand opening of Waterside, a 63-acre mixed-use property. At WestBend, another mixed-use development in the city’s University District, she supported leasing efforts and event programming. Prior to joining Trademark last year, Hall was marketing director at Vestar.
Dollar Tree comes out on top

Higher customer spending and lower costs help drive better-than-expected fourth quarter sales and profit at Dollar Tree. The discounter’s solid quarterly performance capped a year in which it opened 584 new stores and exceeded $20 billion in sales. Dollar Tree reported net sales of $5.64 billion for the quarter ended Jan. 28, up 5.0% from $5.37 billion in the year-ago period.
Lowe’s surges in fourth quarter

Strengthened by strong holiday performance, a steadily recovering housing market and an increasingly omnichannel approach, Lowe¹s reported fourth quarter net sales of $15.8 billion, up 19.2% from $13.2 billion in the same quarter a year ago. Net earnings for the quarter swelled to $663 million, up from $11 million in the fourth quarter of 2015. Comparable sales increased 5.1% in the quarter.
Teen retailer beats Q4 earnings but gives downbeat view

American Eagle Outfitters topped earnings expectations amid a strong performance by its Aerie division, but issued a cautious note for fiscal 2017. For the quarter ended Jan 28, the retailer reported better-than-expected earnings of $54.6 million, or 30 cents per share, down from $81.7 million, or 42 cents per share, a year earlier. Excluding one-time items, the chain has earnings of 39 cents per share, beating consensus analysts estimates by a penny.