Department Store

Sales at teen retailer The Buckle slowed down over the holiday quarter, as a steep decline in comps negatively affected revenue.

The company formerly known as Men’s Wearhouse plans to significantly reduce its physical presence this year by closing 250 stores, including more than 20% of the Jos. A. Bank stores acquired in 2014.

The major reduction is selling space by the company which changed its name to Tailored Brands earlier this year was announced in conjunction with the release of weak fourth quarter results that were in line with previously released results, which showed Jos. A. Bank stores had 32% decline in same-store sales.

The company formerly known as Men’s Wearhouse plans to significantly reduce its physical presence this year by closing 250 stores, including more than 20% of the Jos. A. Bank stores acquired in 2014.

The major reduction is selling space by the company which changed its name to Tailored Brands earlier this year was announced in conjunction with the release of weak fourth quarter results that were in line with previously released results, which showed Jos. A. Bank stores had 32% decline in same-store sales.

Fourth quarter profits at Stein Mart were cut in half as the company relied on heavy promotional activity to clear inventory and eke out a 1% same-store sales increase.

Ross Dress for Less has added three new locations to its growing portfolio.

The retailer opened two 25,000-sq.-ft. stores in Wisconsin on March 5, including one in Milwaukee, at the Point Loomis Shopping Center. The second store is in Oshkosh, at the Market Fair Shopping Center.

In addition, Ross opened a 30,000-sq.-ft. store in Fountain Valley, California, at the Costco Center. Including the new location, Ross now operates 276 stores in California, its largest state.

American Eagle Outfitters announced that Mary Boland, chief financial and administrative officer, plans to retire effective April 1, 2016.

The retailer is currently conducting an active search for a successor.

In the interim, Scott Hurd, American Eagle’s chief accounting officer, will lead the day-to-day management of the finance team and assume the role of interim CFO.

The number of retail industry innovators on the agenda for Shoptalk now exceeds 230 and organizers of the event slated for mid-May aren’t done yet.

Buoyed by strong holiday sales, Express reported impressive results for its fourth quarter as the company’s turnaround remained on track. The chain issued an upbeat earnings forecast for the full year.

The specialty retailer reported better-than-expected net income of $56.1 million, or 67 cents per share compared to $41.8 million, or 49 cents per share, in the year-ago period.