Retail

TJX Cos. is preparing to debut a new retail banner.   Speaking on the chain’s quarterly call with analysts, TJX CEO Ernie Herrman said the company will open four home goods stores in the United States under a new nameplate this year, CNBC reported.   The new concept will allow TJX to enter new markets and sell products that it hasn't currently penetrated with its HomeGoods footprint, Herrman said, according to the report.     

Lowe’s is the latest retailer making job cuts.   The home improvement retailer has laid off more than 500 full-time corporate employees company-wide — its latest effort to streamline the company and boost profitability, the Charlotte Observer reported.    

Better inventory management and reduced promotions are helping to keep Chico’s FAS on the right financial path.   For the 13 weeks ended January 28, 2017, Chico’s reported net income of $13.5 million compared to a net loss of $21.1 million for the same period last year.   

A disruptive retail climate and underperforming categories took their toll on HSN during the fourth quarter.   HSN’s net income was $43.5 million for the quarter, or 82 cents per share, ended December 31, 2016, compared to $59.7 million for the same period last year. This exceeded analysts’ estimates of 74 cents per share.  

Retailers shouldn’t expect consumer tax refunds to equate into a sales boom anytime soon.   A record low number of Americans will spend their tax returns this year, while the second-highest number on record will put the money into savings, according to the annual tax return survey released by the National Retail Federation and Prosper Insights & Analytics. The study, which is based on responses from 7,609 consumers, was conducted Feb. 1 - Feb. 8.  

Staying true to its recently announced growth plan, Dollar General is preparing to break ground on a new distribution center.   

Better control over pricing and inventory helped boost Havertys fourth quarter earnings, beating analyst expectations.   Net sales for the quarter ended December 31, 2016, increased 2.2% to $220.6 million, compared to analyst expectations of $220.61 million.   Same-store sales rose 2.5%, and the average written ticket was up 2.6%, while custom upholstery written business rose 1.9%.  

The Limited is in line to get a new lease on life.    Sycamore Partners has won the auction for the e-commerce business and intellectual property of the bankrupt women's apparel retailer with a bid of $26.8 million, according to Reuters.