Corporate Governance

Discounter has better-than-expected holiday sales
Ollie's Bargain Outlet Holdings raised its full-year outlook after shoppers flocked to its stores in search of its signature “good stuff cheap” during the holiday season. For the nine-week period ended December 31, 2016, Ollie’s total sales increased 16.3%, with a same-store sales increase of 1.9%. The discounter said it now expects full-year net sales to total about $888 million, ahead of the FactSet consensus of $874 million. It expects same-store sales growth of about 3% and per-share earnings of about 93 cents.
Party City acquires 18 locations
Party City Holdco Inc. continues to acquire its franchised locations. The company has entered into an agreement to acquire a master franchise group representing 18 franchise stores in Louisiana, Alabama, Mississippi and Florida, and with estimated 2016 sales of approximately $34 million. The purchase price is estimated to be $14.5 million to $15.0 million.

Hughes buys Macy’s; will convert mall to open-air center

The Howard Hughes Corporation announced it has purchased the 11.4-acre Macy’s store and parking lot at its Landmark Mall in Alexandria, Virginia, and will set about transforming the enclosed property into an open-air center.
Study: Gift card spending hits $46 billion

Despite being criticized as being impersonal gift options, gift cards continue to rise in popularity. In fact, gifts care are increasingly expected and eagerly used, especially among "older" millennial adults, according to “Prepaid and Gift Cards in the U.S., 5th Edition,” a report from market research firm Packaged Facts.
No more ‘evenings’ at Starbucks

Starbucks Corp. is no longer selling alcohol. The chain will stop selling beer and wine as it brings to an end to its "Evenings" program. The program, currently in operation in 439 company-owned stores in the United States, will end Jan. 10, although it may continue overseas. Also, Starbucks plans to integrate beer and wine into its new higher-end Roastery format.
WH Smith in POS investment

A go-to brand for shoppers on-the-go, WH Smith Travel is improving the in-store experience. The chain will add the Aptos Store point-of-sale solution at WH Smith’s Travel locations. The platform, which features modernized, flexible POS technology, is designed to maximize associate productivity and improve the customer experience across the chain’s more than 900 locations in Europe.
Closing time for The Limited stores

Apparel retailer The Limited is out of the brick-and-mortar retail business. The ailing chain, which has quietly been closing stores around the country for the past couple of weeks, announced the news with a short statement on its website on Friday, Jan. 6. The move was not unexpected. Limited has struggled amid increased competition from fast-fashion upstarts, both offline and online.
Albertsons in online program benefitting low-income shoppers

Albertsons is helping expand online grocery purchases to low-income individuals nationwide. The United States Department of Agriculture (USDA) has selected Albertsons Companies to participate in the online purchasing pilot for Supplemental Nutrition Assistance Program (SNAP) — a service targeting low-income households.
Neiman Marcus scraps IPO

Neiman Marcus Group is not going public anytime soon. In a filing on Friday, the luxury department store retailer said it would withdraw its initial public offering, having determined "that it is not in its best interests" to proceed with the initial public offering at the current time.
Build-A-Bear CEO Goes ‘Undercover’

Going undercover isn’t easy. But it can definitely be worth the effort. Just ask Sharon Price John, president and CEO of Build-A-Bear Workshop.
Grocer bullish on expansion in 2017

Sprouts Family Market is expanding its footprint. The Phoenix-based grocer plans to open 35 stores in 2017, with 11 of the locations opening in the second quarter of the year. The 11 stores opening in the second quarter include three in California, two in Georgia, two in Florida locations, two in Texas locations and two in Colorado, the Phoenix Business Journal reported.
Amazon opening more bookstores

New Yorkers will have a new way to browse Amazon’s best-selling book titles — in a physical store. Later this year, the retail giant will open a bookstore at the Time Warner Center in Manhattan. Also on the slate for 2017 is a location in Chicago, and the Boston suburb of Dedham, Mass. Stores are also planned for Lynnfield, Mass., and Paramus, N.J.