Corporate Governance

Christopher & Banks Corp.

Some retailers have had a rough time being successful in Canada, but not Dollarama, where profits, sales and store counts are on the increase.

In fact, customers increased their spending at the Canadian discounter over the fourth quarter, leading to  the chain’s quarterly profit rising about 21%.

Belk’s efforts on community involvement received a boost in 2015, as the company reported that it donated more than $21.5 million to local communities last year.

Of the total amount, Belk corporate dollars funded $6.1 million to more than 250 nonprofit organizations, with a focus on education, breast cancer research and awareness, and community strengthening, the company said. The remainder of the funding includes associate, vendor and customer dollars raised in Belk-led charitable events, including the Belk Charity Sale.

The Army and Air Force Exchange Service (AAFES) recently conducted a first-of-its-kind initiative designed to simplify the process of selling to the major retailer.

Working with the American Logistics Association, AAFES participated in the trade group’s 2015 Exchange Impact Workshop in Dallas. Led by AAFES Chief Merchandising Officer Ana Middleton, she and more than 50 AAFES representatives detailed the Exchanges’ go to market strategy to an audience comprised of manufacturers, brokers, distributors, and service providers.

Destination XL Group Inc. reached a new level of performance in the fourth quarter with a whopping 16.4% same store sales increase.

Separating itself from Sears Holdings a year ago has not helped Land’s End financial footing judging from the company’s fourth quarter profit and same store sales decline.

Land’s End sales declined 4.9% to $504.6 million and net income declined 28% to $33.1 million in the fourth quarter ended Jan. 30. Merchandise sales and services were negatively impacted by a $3.4 million product recall in the quarter that negatively impacted net income by $2.6 million.

Fred's Super Dollar has signed an agreement to acquire Reeves-Sain Drug Store, a private specialty and retail pharmacy company based in the Nashville, Tenn., area.

Teen and tween specialty retailer Five Below is accelerating store growth this year even though its relatively young store base mustered a modest 3.2% fourth quarter same store sales increase.

Five Below opened 62 new stores last year compared to 60 units the prior year to end the year with 366 locations in 21 states. The additional selling space and a 3.2% comp increase caused sales to increase 24.4% to $264 million from $212 million. Profits increased to $33.3 million compared to $24.8 million.

Minneapolis – Christopher & Banks Corp. on Tuesday swung to a profit of $32.2 million for the fourth quarter, after reporting a loss in the same period a year earlier.

Net sales totaled $98.0 million, as compared to $104.9 million for the year-ago period. During the quarter, the company operated an average of 7.0% fewer stores than during the comparable period last year, reflecting its store conversion program.

The retailer posted revenue of $98 million in the period.

New York  -- Ikea will open its largest U.S. store on a 22-acre site in Burbank, California. As the first step in the construction process, the retailer must demolish 19 existing structures on the site. The new 456,000-sq.-ft. store is slated to open in spring 2017.

Reflecting the company’s commitment to sustainability, Ikea plans to recycle, repurpose or salvage as much of the existing buildings’ equipment, materials, and parts as possible.