Corporate Governance

Neiman Marcus reported modest sales and a reduced loss for fourth quarter as it eyes an initial public stock offering and a bright omnichannel future.

Neiman Marcus posted a net loss of $32.9 million for the fourth quarter, compared to a net loss of $42.1 million in the year ago period.

Revenues at the company’s 43 full-line department stores and 42 Last Call off-price stores increased 4.9% to $1.17 billion. Same-store sales increased 1.9% for the fourth quarter ended Aug. 1.

When it comes to selling products online, retailers want to go wherever their customers go. According to the 2015 E-Commerce Benchmark Survey from Boston Retail Partners, close to half (45%) of surveyed retailers indicated that mobile websites are their most important e-commerce capability.

The maker of bagless and cordless vacuum cleaners and high-tech fans is looking to sell its products in its own branded spaces.

Dyson is planning to open a store on London’s Oxford Street as a prelude to opening locations around the world, The Daily Mail reported. The company has previously opened pop-ups at the Bluewater shopping center in Kent, England, and in select malls in the United States.

Holiday sales will increase between 3.5% and 4%, slower than last year’s 5.2% growth, as favorable economic tailwinds are offset by lingering negatives, according to an annual forecast by Deloitte’s Retail and Distribution Practice.

Veteran J.C. Penney merchant John Tighe has been elevated to fill the role of executive VP and chief merchant held by Liz Sweney who is retiring.

The change, announced Sept. 23, was effective immediately. Tighe and Sweeney joined the company in 2002 and 2000, respectively, and Sweney served as chief merchant since March 2012. She will remain with the company in an advisory role through year end.

Neiman Marcus reported modest sales growth and a reduced loss for its recently ended fourth quarter as the operator of 85 stores eyes an initial public stock offering and a bright omnichannel future.
 

Smart & Final celebrated the one year anniversary of its public stock offering by telling investors a growth story about differentiation and new store expansion.
 
Smart & Final, a uniquely positioned operator of 266 warehouse style stores, has plans to open 100 new stores in the Western United States during the next four years. CEO Dave Hirz dropped that bombshell while he and other senior members of the company were at the New York Stock Exchange to ring the opening bell to commemorate the one year anniversary of the company’s listing.

The nation’s leading automotive retailer ended its most recent fiscal year the same way it has for the past nine years – with double-digit profit growth and a favorable outlook for the coming year.

Macy’s Inc. relatively new to the outlet sector but it’s making up for lost time.

On the heels of the debut of its Macy’s Backstage off-price format and the news that it would close up to 40 underperforming namesake stores, the retailer announced it will open two Bloomingdale’s Outlet stores in November, at The Shops at Liberty Place in Philadelphia, and at Westfield Mission Valley in San Diego.