Apparel

New York – Foot Locker Inc. is significantly raising its long-term financial objectives for 2020, including achieving sales of $10 billion. The retailer also seeks to achieve sales per gross square foot of $600, net income margin of 8.5%, EBIT margin of 12.5%, return on invested capital of 17%, and inventory turnover of three or more times.

Buoyed by impressive fourth quarter sales, Burlington Stores Inc. is accelerating its expansion strategy, with plans to open 25 new stores in 2015 and a long-term goal of 1,000 stores coast-to-coast.

The off-price retailer reported that total revenue for the fourth quarter ended Jan. 31 grew 10% to $1.5 billion from $1.34 billion. Same-store sales rose 6.7%.

Burlington, N.J. – Burlington Stores Inc. beat Wall Street expectations for earnings and sales in a strong fourth quarter of fiscal 2014. Reductions in store payroll and advertising helped drive a net income increase of 49% to $94.86 million, from $63.58 million.

Burlington Stores plans to open 25 net new stores in fiscal 2015.

Total revenue grew 10% to $1.5 billion from $1.34 billion. Same-store sales rose 6.7%

Chicago - West Marine will open a new 20,000-sq.-ft. flagship Midwest store on North Halsted Street in Chicago on April 23. The new Chicago store is located just off the North Branch Canal of the Chicago River that wraps around Goose Island.

After opening its first stores in Alabama this month, tween and teen retailer Five Below is taking Kentucky off its expansion list next, with new stores there opening this week.

"Entering Louisville is an important next step as we continue to grow our footprint across the country," said Joel Anderson, CEO of Five Below. "We're excited to serve new customers in this dynamic city. Kids and parents looking for a fun place to shop for trend-right, high quality products at a great value will surely enjoy Five Below."

Mountain View, Calif. – Move over mom, baseball and apple pie. The new three things everyone loves are iPhone, Apple and retail.

According to a new survey of global English-speaking consumers in 84 countries, the “NetBase Brand Passion Report,” iPhone is the most-loved brand in the world. Apple comes in at number three. And retail and Apple dominate the rest of the top 10 brands, which are Etsy (4th), iPad (5th), MacBook Air (6th), Starbucks (7th), Chipotle (9th) and McDonald’s (10th).

Pleasanton, Calif. – Safeway Inc. is reportedly selling three shopping center it owns in Hawaii. According to Pacific Business News, Carlsbad, California-based Terramar Retail Centers is paying about $156 million for the centers.

Two of the centers are anchored by a Safeway – the 23-acre Hokulei Village in Lihue on Kauai for $52.25 million, and the 12-acre Lahaina Cannery Shops on Maui for about $60.3 million. Terramar is also paying $43.4 million for the 24.5-acre Target-anchored Puunene Shopping Center on Maui.

Indianapolis - Lids Sports Group has upgraded its inventory management system so that the retailer now provides consumers access to companywide inventory in retail stores, as well as its centrally located distribution centers. By implementing this improvement, thousands of styles and teams that were previously only available in stores are now available to fans everywhere.