FINANCE

The off-price segment continues to be one of the brightest spots in brick-and-mortar retail.    Ross Stores on Tuesday reported earnings per share for the fourth quarter ended January 28, 2017 of $.77, up 17% from the prior year, on net earnings that rose 14% to a better-than-expected $301 million. But the retailer offered a cautious outlook amid economic and industry challenges.    Ross’ sales quarter grew 8% to $3.5 billion. Same-store sales increased 4%.   

Strong online sales were not enough to help Target Corp. overcome a very disappointing fourth quarter, whose sales and earnings were far below Wall Street expectations. And the discounter offered a weak outlook for 2017.   Target on Tuesday issued a full-year profit forecast that was far below market expectations, and said it plans to invest more money into enhancing its digital online platform and cutting prices. The chain said it would sacrifice gross margins this year to stay ahead of the competition.  

Nasty Gal is getting a new lease on life — but only in the digital space.   The brand, which was acquired out of bankruptcy in early February by British online fashion group Boohoo.com, will live on under new leadership as a pure player. Nasty Gal recently closed its two brick-and-mortar stores, both of which were in the Los Angeles area.    

Lucy Activewear plans to shutter its retail store operation, and merge with a sister brand.    Lucy, which is owned by VF Corp., will merge with The North Face, also owned by VF.     

Women’s apparel retailer J.Jill is returning to the public arena after more than a decade of private ownership.   The retailer on Monday said it has launched an initial public offering of 11.67 million shares. The IPO is expected to have a price range of between $14.00 and $16.00 per share.   J.Jill has been approved to list its common stock on the New York Stock Exchange under the ticker “JILL.”  

As teen retailers deal with competition from online as well as off-price and fast-fashion brands, one teen retailer is flourishing — with aggressive store expansion plans.  

JackThreads is the latest company seeking help to stay afloat.   The online men’s retailer has cut its staff down to a skeleton crew with mass layoffs over the past two weeks, and is on the hunt for a buyer, according to Fortune.   

The proliferation of cheaper, mass-produced consumer-grade virtual reality (VR) applications are finding their niche in retail.   The technology, which was often synonymous with customized and expensive equipment, has been a long-time staple for military training, civil flight training, and industrial 3D modeling.