Corporate Governance

Boot Barn Q2 earnings meet the Street
Boot Barn’s second quarter performance rose slightly, meeting Wall Street estimates. The western-influenced specialty retailer reported $134 million in revenue for the second quarter ending Sept. 24, 2016, a 3.3% increase from $129.7 million in the prior-year period. This jump also exceeded Wall Street’s estimate of $131.61 million. Boot Barn credited the increase to 13 new stores opened over the past 12 months, and a 1.8% increase in same-store sales. Two of those stores opened the chain during the second quarter.
Boot Barn Q2 earnings meet the Street
Boot Barn’s second quarter performance rose slightly, meeting Wall Street estimates. The western-influenced specialty retailer reported $134 million in revenue for the second quarter ending Sept. 24, 2016, a 3.3% increase from $129.7 million in the prior-year period. This jump also exceeded Wall Street’s estimate of $131.61 million. Boot Barn credited the increase to 13 new stores opened over the past 12 months, and a 1.8% increase in same-store sales. Two of those stores opened the chain during the second quarter.

Clarks relocates HQ to historic Waltham location

Clarks Americas has moved its head office to a historic location that provides employee- and eco-centric amenities. After setting up shop in Newton Upper Falls for nearly 18 years, the footwear brand has moved into the historic Polaroid building in Waltham, Mass. The 120,000-sq.-ft., four-story office houses Clarks’s design and marketing operations, and retail and wholesale business support — divisions that are comprised of more than 400 employees.
Tuesday Morning reports Q1 loss

Constraints due to inventory levels took a toll on Tuesday Morning’s first quarter earnings. The off-price home decor retailer reported a net loss of $8.9 million for the first quarter ended Sept. 30, 2016. Net sales for the quarter were $211.9 million, which is an increase from $9.6 million from the prior year. Same-store store sales increased 5.1%, however the company’s operating loss for the first quarter was $9.2 million.
Wayfair offers more flexible financing

Wayfair is making a bold move to grab more consumer wallet-share, and compete with brick-and-mortar retailers. Complementing its private label credit card, Wayfar is offering a financing option to consumers purchasing furniture and decor. Through a partnership with financial services company Affirm, Wayfair shoppers now have the flexibility to buy now and make monthly payments for their purchases — a move that extend financing options to a broader range of customers.
GNC falls short in Q3

GNC had higher expectations for its third quarter earnings. The nutritional supplement retailer reported revenue of $628.0 million, a decrease of 8.1% compared with $683.4 million for third quarter 2016, ended Sept. 30, 2016. Similarly, GNC’s net income of $32.4 million dropped compared with $45.8 million in third quarter 2015.
Report: Amazon to open 20 grocery stores over the next two years

The nation’s largest online retailer has big plans for brick-and-mortar expansion.
SoCal center sold for $19.8 million

Town Center Plaza, an 82,000-sq.-ft. center in Palm Desert, California, near Joshua Tree National Park, has been acquired by Citivest Commercial Investments for $19.8 million. Constructed in 1993, the center’s tenants include Trader Joe’s, Michael’s, Fisherman’s Market and Grill, and Tuesday Morning. Colliers International brokered the deal on behalf of the seller, Town Center Plaza LP.
Boohoo.com’s first store to open in New York

Boohoo.com, the England-based, low-priced fashion Web retailer, will be opening its first brick-and-mortar store in Manhattan’s Union Square neighborhood. An opening date has not been set, but Cushman & Wakefield reported it has secured the retailer a lease for a 2,000-sq.-ft. space at 3 West 13th Street.
Former Sam's Club exec joins Boxed.com as chief merchandising officer

Boxed.com, the online wholesale shopping club with no membership fees, on Thursday named former Sam's Club executive Heather Mayo the company's chief merchandising officer. Mayo will lead the development and execution of all merchandising strategies and initiatives, and will be responsible for delivering the optimal product assortment as dictated by the brand's strategy and unique target customer profile.
Webinar: Are your analytics capabilities keeping up — or falling short?

Chain Store Age is sponsoring a webinar that will reveal new market research from the International Institute for Analytics. Learn about IIA’s retail industry analytics maturity index and the characteristics of the highest-performers—and see how your company measures up. “Competing on analytics” is no longer a mystery. Find out how your company can get with the program.
Report: Retailers balk at through-the-roof rents on Fifth Avenue in Manhattan

Are landlords on Manhattan’s Fifth Avenue shooting themselves in the foot by demanding record new rents for the famed shopping address? The availability rate on Fifth Avenue increased to 15.9% in the third quarter, up from about 10% from a year earlier, according to Cushman & Wakefield Inc., Bloomberg reported.