Retail

Many areas of the Affordable Care Act remain unsettled

Retail companies should expect this year and 2014 to be a wild roller coaster ride of health insurance changes for retailers. That assessment came from Neil Trautwein, VP, employee benefits, National Retail Federation, who said that retailers need to take prudent actions to comply with the requirements of the Affordable Care Act (ACA).

From mobile wallets to QR codes to apps, Macy's is making all the right moves

Mobility is sure to play an increasingly important role in Macy's omnichannel future, both in commerce and marketing. But don't look for the company to take a cookie-cutter approach.

New York -- Costco Wholesale Corp. will expand its Issaquah, Wash., headquarters, according to published reports on Friday.

The Seattle Daily Journal of Commerce reported Friday that Issaquah's director of economic development, Keith Niven, said the club retailer would expand the headquarters to take up as much as 1.5 million sq. ft.

The Tacoma, Wash., News Tribune reported that the company currently takes up three buildings that are full.

Minneapolis -- Christopher & Banks Corp. narrowed its fiscal fourth-quarter loss as the company received a boost from an extra week of sales and cut costs.

The retailer posted a loss of $4.1 million for the 14 weeks through Feb. 2, compared with a loss of $53.2 million in the 13 weeks the year before.

Revenue was up 10%, to $116 million from $105.6 million. Same-store sales jumped 18.5%.

Total expenses fell 25% to $120 million.

Kearney, Neb. -- The Buckle said that its fourth-quarter net income increased 9%, topping Wall Street expectations.

For the quarter ended Feb. 2, the retailer earned $61.4 million, up from $56.1 million in the same quarter last year.
       
Net sales for the 14-week quarter ended February 2, 2013 increased 7% to $360.6 million from net sales of $337.1 million for the prior year 13-week fiscal quarter ended January 28, 2012. Same-store net sales for the quarter were flat.
 

Minneapolis -- Target Corp. has made two e-commerce acquisitions aimed at expanding its presence in the growing cooking and kitchenware market. The retailer said it has acquired CHEFS Catalog and assets of Cooking.com in two separate transactions.  

Houston -- The Men's Wearhouse Inc. posted a larger-than-expected loss for its fiscal fourth quarter. The retailer also announced that it was exploring the possible sale of its weaker performing K&G unit.

The company lost $3.4 million for the quarter that ended Feb. 2, compared to a loss of $3.8 million in the year-ago period.

Revenue rose 8.2% to $608.4 million. Revenue from Men's Wearhouse stores, which made up 61% of the quarter’s sales, rose 9.1%.

New York -- Target is expanding its retail clinic presence in the Chicago area, according to the Chicago Tribune.
 
The retailer plans to open three in-store health clinics — two in the suburbs and one in the city — in the Chicago area, the report said. Construction is scheduled to start on May 28, and grand openings are planned for Aug. 18. The Target on Division Street, scheduled to open in October, will also have a clinic.