Footwear

DSW Inc. says it plans to open as many as 35 new stores this year after reporting that its profits shot up 10% in the fourth quarter.

The specialty footwear retailer reported net income of $30.8 million, up 10% from $28.1 million the same quarter a year earlier. Cost of sales grew at a slower pace than actual sales, helping boost profits.

New York-based retailer Bob’s Stores has had stores all over the Northeast for more than a half-century, but now the company has finally set its sights on Maine shoppers.

The retailer will hold a grand opening for its first location in the state of Maine, in South Portland, at 301 Maine Mall Road, on March 22.

Bob’s last opened a store in October 2011 in East Northport, N.Y.

Virginia Beach, Va. -- DSW Shoe Warehouse will open a new store at Pembroke Mall in Virginia Beach, Virginia. The retailer will be taking 15,040 sq. ft. of an existing Sears store.

The lease negotiations were handled on behalf of the tenant by Divaris Real Estate, Inc.

DSW will open fourth quarter 2015 and will be joined by Nordstrom Rack and REI in 2016.
 
 

Nashville, Tenn. – A variety of pretax items, including network intrusion expenses and a lease termination, helped limit fourth quarter net earnings growth at Genesco Inc. to a level below company expectations. However, net income still rose 19% to $50.4 million from $42.15 million the same quarter in the previous fiscal year.

Net sales increased 13% to $893 million from $793 million. Same-store sales increased 10%.

Genesco Inc. cited construction expenses and currency pressures as reasons for the company’s weaker-than-expected fourth quarter earnings. 

The company posted earnings from continuing operations of $51.8 million, or $2.18 per diluted share, for the quarter ended Jan. 31. The numbers are an improvement from the year-ago period, which saw earnings from continuing operations of $42.2 million or $1.79 per diluted share. 

Clayton, Mo. -- Increased sales at its Famous Footwear division and the sale of its shoes.com online site, helped boost Brown Shoe Company’ profit in the fourth quarter.  

The retailer reported net earnings of $16.2 million, which included adjustments related to the sale of Shoes.com, compared with $6.2 million in the year-ago period. Adjusted net earnings were $9 million.

Consolidated net sales in the quarter, ended Jan. 31, totaled $615.4 million, up 2.6% from year-ago period. Same-store sales increased 4%.

Alpharetta, Ga. --  Brixmor Property Group announced the opening of a 24,000-sq.-ft. REI at Mansell Crossing in Alpharetta, Georgia.  This is the fifth Atlanta-area location for the national outdoor retailer.

Columbus, Ohio – Expenses, primarily related to incremental marketing activities, helped decrease profits at Express Inc. during the fourth quarter of fiscal 2014. But the chain beat Wall Street analysts earnings and sales estimates while also giving an upbeat outlook for its current quarter.

Express reported net income of $41.8 million, down 16% from $49.7 million last year.

Dublin, Calif. -- Ross Stores recently opened 32 Ross Dress for Less stores and five dd’s Discounts locations across 15 different states. The openings are part of the off-price retailer’s 2015 expansion plans to open a total of approximately 90 stores in 2015 (70 Ross and 20 dd’s Discounts).

New York -- Bonobos, the online-driven men’s clothing brand, keeps expanding its physical presence. The company announced plans to opens its largest location to date, in Manhattan’s Flatiron District. The 4,000-sq.-ft. “Guideshop (which is how Bonbos refers to its brick-and-mortar spaces) is slated to open in June. It will be the brand’s seventeenth location nationwide and fourth in New York City, following the expected openings of Guideshops in Newport Beach, California, and Brookfield Place, New York City, in March.