Department Store

Ann Inc. is blaming its huge fourth-quarter profit loss on expenses related to deep discounts and the West Coast ports dispute.

For the quarter ended Feb. 1, net earnings at Ann Inc. came in at $262,000, or 1 cent a share, compared with $4.7 million, or 10 cents a share, in the same period a year ago. Total sales rose to $647.4 million from $623.3 million, beating the analysts’ estimates of $627 million. Same-store sales rose 1%, with Ann Taylor brand sales declining 0.4% and Loft brand sales rising 1.9%.

Kroger executive Kathleen “Katy” Barclay and former Coach executive Catherine “Kate” Buggeln are the newest member of the Five Below board of directors.

Despite similarities in name, Katy Barclay and Kate Buggeln bring different strengths to the rapidly growing teen and tween retailer’s board. Barclay has more than 35 years of experience in the human resources field and currently serves as senior vice president of human resources at Kroger.

Savannah, Ga. -- Citi Trends Inc. on Friday announced a change in leadership as its reported fourth quarter results that topped forecasts. The urban apparel retailer said that Ed Anderson is retiring as CEO, effective March 21, with Jason Mazzola, currently executive VP and chief merchandising officer, becoming president CEO effective March 22, and being appointed to the board of directors, effective immediately.

Additionally, Bruce Smith, executive VP and CFO, will also become its COO.

Boston -- Co-developers WS Development and National Development announced the openings of the first three businesses in phase two of MarketStreet Lynnfield, located in Lynnfield, Massachusetts. Tuck’s Candy Factory opened in February , followed by Hanna Andersson and Gap, scheduled to open the week of March 9.

“We have had an incredible response from the community since we opened nearly 20 months ago,” said Nanci Horn, general manager of MarketStreet Lynnfield.  

Denton, Texas -- Fashion-forward retailer H&M will open a new store at Golden Triangle Mall, in Denton, Texas. The 23,000-sq.-ft. location is slated to open fall 2015, bringing its Texas store count to 15.

Golden Triangle Mall has recently undergone a redevelopment, with new entrances and facades, center court, performance area and other enhancements. The 765,000-sq.-ft. enclosed mall is owned by GTM Development, a partnership between The McHerring Group and Cencor Realty Services, and is anchored by J.C. Penney, Dillards, Macy’s and Sears.

After five consecutive quarters of declining same-store sales, teen retailer the Buckle may be coming out of its slump.

The Nebraska-based company reported net sales of $353.5 million, 4.3% higher than the year-ago quarter. Same store sales grew 1.1%. Net income rose by about 1.3% to $60.1 million, producing earnings of $1.25 per share, ahead of analysts’ estimates.

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.
 
 

St. Clairsville, Ohio -- Ulta Beauty and Sincerely Yogurt will both open at Ohio Valley Mall this year. Sincerely Yogurt will debut first, opening a 1,275-sq.-ft. location late spring 2015. Ulta Beauty will open a 9,700-sq.-ft. store near Sears by early fall.  The construction of the new Ulta will introduce a new, exterior doorway providing direct access from the mall parking area.

Owned by Cafaro Company, the recently renovated Ohio Valley Mall is located on I-70, Exit 218-Mall Road, in St. Clairsville, Ohio.