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Holiday discounts cut into December profits
NEW YORK — Many retailers reported solid sales gains for December, but the deep discounts and promotions that shoppers have come to expect cut into profits. A range of retailers, including Target and The Children’s Place, reduced their earnings outlooks. Overall, retail sales rose 3.4% at the 22 retailers tracked by the Thomson Reuters same-store sales index, compared with the 3.3% analyst forecast.
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Big and Tall Market Reaches New Heights
Throughout the industry, retailers are reinventing strategies, changing formats and resizing footprints. While many are downsizing prototypes, Casual Male Retail Group is transitioning from traditional 3,500 sq. ft. Casual Male XL stores to a big-box Destination XL format. Dennis Hernreich, who holds the dual titles of COO and CFO for Casual Male Retail Group (CMRG), talked with Chain Store Age contributing editor Connie Gentry about the opportunities and challenges of transforming the business to better serve an expanded market.
