Corporate Governance

Delia's to liquidate, file for Chapter 11
Teen retailer Delia’s Inc. plans to liquidate operations and file for Chapter 11 bankruptcy protection "in the very near term."

The company has struggled with weak sales for years and has not reported an annual profit since 2007.

Several teen apparel retailers have been losing market share to fast-fashion brands such as H&M, Forever 21 and Zara.
Guns no defense against comp decline at Sportsman's Warehouse
Weakening demand for guns and ammunition contributed to a 6.2 percent decline in same store sales at outdoor retailer Sportsman’s Warehouse Holdings.

The comp decline was offset by an increase in new stores which allowed the company to grow sales by 4.3 percent to $182.5 million and end the third quarter on Nov. 1 with 55 stores. Profits on an adjusted basis to exclude non-recurring expenses were $8.9 million, or 21 cents a share, compared to $7.1 million, or 17 cents a share.

Jennifer in need of cheer at Big Lots

Big Lots hypothetical core customer Jennifer isn’t feeling so cheerful this holiday season as the nation’s leading closeout retailer is eyeing a low single digit fourth quarter comp increase.
Survey: Walgreens, CVS among “Best Retailers to Work With”

NEW YORK — Chain Store age sister publication Retailing Today has released the findings of its first "Best Retailers to Work With" research report. The exclusive research report examines suppliers’ perceptions of the retail industry in areas such as innovation, collaboration, digital readiness, expectations of trading partners and reputational factors.
Fresh & Easy testing new store concept

Las Vegas - Fresh & Easy, the former Tesco-owned grocery format, is testing a dramatically new look at seven plus stores in the Las Vegas market. The stores have been remodeled with a more modern feel and layout and a greater emphasis on ready meal solutions, with such features as a “Fresh To Go” hot food bar, a pizza over, a coffee bar and made-to-order sandwiches. A revamped product selection with lower fixtures and a more abundant selection of fresh food.
Deb Shops files Chapter 11, citing “old, tired stores”

New York - Deb Stores Holding LLC, owner of Deb Shops, has filed for Chapter 11 bankruptcy protection in Delaware, with plans to close stores and sell inventory if it can’t find a buyer for the business.
Starbucks’ five-year plan heavy on new store formats, food growth and mobile

Seattle - Starbucks Coffee Company isn’t resting on its laurels. The chain’s five-year strategic growth plan—unveiled Thursday at its biennial Investor Day—includes new store formats, expanded food offerings, and digital initiatives.
Best Buy says goodbye to China stores

Minneapolis – While some retailers, including Wal-Mart Stores, are ramping up their store presence in China, Best Buy Co. is pulling up stakes. The consumer electronics chain has entered into a definitive agreement for the sale of its Five Star business to the Jiayuan Group, a China-based real estate firm.
Walgreens names Claire’s, Wal-Mart vet as merchandising head

Deerfield, Ill. – Walgreen Co. has named Linda Filler as president of retail products and chief merchandising officer, effective Jan. 1. Filler will be responsible for the vision, leadership, strategic direction and performance of all Walgreens merchandising activities.
Sam’s Club introduces travel app

Bentonville, Ark. - Sam’s Club is introducing a new free Sam’s Club Travel mobile application designed to offer Sam’s Club members savings on hotels, rental cars, vacation homes, and other travel activities. Sam’s Club is the first mass market retailer to offer members a mobile app exclusively dedicated to leisure and business travel needs.
Barnes & Noble Q3 profit slips, ends Nook deal with Microsoft

New York – Consolidated net earnings dropped 8% at Barnes & Noble Inc. in the third quarter of fiscal 2015, to $12.3 million from $13.2 million. An increase in selling, general and administrative (SG&A) expenses helped drive the drop in profit. Second quarter consolidated revenues decreased 3% to $1.69 billion from $1.75 billion.
Hudson’s Bay launches credit card agreement with Capital One

Toronto, Canada – Hudson’s Bay Company is launching a new credit card program with Capital One Financial Corp. that includes the Saks Fifth Avenue banner. The agreement is also planned to add the Lord & Taylor credit card program in June 2015, subject to certain closing conditions.