Department Store

NEW YORK — Kohl’s Department Stores has opened eight new stores, bringing approximately 1,000 new jobs nationwide. The company now operates 1,134 stores in 49 states.

The new stores are located in seven states, including Florida, Illinois, Missouri, New Hampshire, New York, North Carolina and Pennsylvania. Of the eight locations, seven are small format stores with approximately 64,000 sq. ft. or less of retail space, providing greater real estate flexibility.

New York -- Women’s apparel retailer Maurices plans to open approximately 60 stores this year, according to the Duluth News Tribune. The total includes the chain’s first international location, in Canada.

Maurices currently has 803 stores in 44 states, with the count up 32 stores since June.
 

Incoming Target CFO John Mulligan and outgoing CFO Doug Scovanner participated in a Target sponsored meeting last Friday at the New York stock exchange. The event gave Wall Street analysts an opportunity to get to know Mulligan, and the consensus is the guy is a strong replacement for longtime CFO Scovanner whose tenure ends March 30.

SECAUCUS, N.J. — The Children's Place Retail Stores is the latest retailer to report fourth-quarter sales that were negatively impacted by the unseasonably warm weather this winter. The company said that comparable-store sales for the quarter declined 2.7%, and net sales were up only slightly (0.9%) to $457.5 million from $453.2 million for the fourth quarter of 2010. 

Children's Place also reported a drop in income from continuing operations after tax from $32.7 million, or $1.24 per diluted share, to $24.2 million, or 97 cents per diluted share.

Houston — Profits at apparel retailer Stage Stores rose 2% to $32.7 million during the fourth quarter, from $32 million a year earlier.

Revenue increased 6% to $479.1 million from $453.7 million, beating Wall Street's $468.2 million forecast.

For the year, Stage Stores reported net income of $31 million, down from $37.6 million in the prior year. Annual revenue climbed 3% to $1.51 billion.

Target ranked 25th on Fortune’s listing of the 50 Most Admired Companies, which is the lowest level in the past six years. The decline could be viewed as troubling, but only if you buy into the notion that the list is the definitive report card on corporate reputations.

It is not, at least as far as retailers are concerned. In 2011 and 2010, Target was ranked 22nd, down from 2009 when it was ranked 19th and considerably below 2008 when it nearly broke into the top 10 with a ranking of 11th after a ranking of 13th in 2007.

Target has some ambitious growth plans for the next five years, and to help suppliers participate in that growth Retailing Today has partnered with the consulting firm Sales Is Not Simple to host a unique event on April 26 in downtown Minneapolis.

Fredericksburg, Va. -- Youngstown, Ohio-based Cafaro Co. announced that White House | Black Market will open a new store at its The Village at Towne Centre property near Fredericksburg, Va.

The 4,000+-sq.-ft. store is slated to open spring 2012 across from Coldwater Creek.