Department Store

Macy’s is continuing its expansion into off-price and specialty retailing.

On Tuesday, the department store retailer said it will expand its off-price Macy’s Backstage format in 2016, opening one freestanding location and 15 in-store locations in traditional Macy’s stores.

On the specialty store front, Macy will open approximately 42 Bluemercury beauty stores, with 24 freestanding locations and 18 in-store shops in Macy’s stores.

Signet Jewelers attracted large numbers of Christmas shoppers over the fourth quarter as the parent company of Zales, Kay and Jared posted a jump in same-store sales.

The world's largest retailer of diamond jewelry reported that for the period ended Jan. 30, same-store sales increased 4.9%. Diluted earnings per share grew over 20%. Adjusted EPS increased over 18% and ahead of the guided range.

Hanford, Calif. – Passco Companies announced four leases at Hanford Mall located in Hanford, California. Set to open summer 2016, the new retailers include Buffalo Wild Wings, Five Guys, Dunkin Donuts, and Pieology.

Target Corp. is hiring Arthur Valdez, a 16-year veteran of Amazon.com, as executive VP, chief supply chain and logistics officer.

Valdez will lead Target’s supply chain transformation including planning, distribution and transportation. He will report to Target’s executive VP and COO John Mulligan.

An online brand known for its retro-inspired Indie fashions has brought on new executives to help it move into physical retailing and build an international presence.

The Retail Design Institute will hold its 45th Annual Awards Gala & Fundraiser on March 12, 2016, at the Hilton Anatole, Dallas, the night before the kickoff of Chain Store Age’s SPECS Conference.

The winners of the competition, including the Store of the Year, will be unveiled at the event, which will also showcase the latest trends in materials, signage, fixturing and in-store technology.

Gap Inc. says its fourth quarter results show the company's turnaround plan is working, but the retailer continues to post lackluster sales and earnings.

The parent company of Old Navy and Banana Republic says fourth-quarter profits were $214 million, or 53 cents per share, for the three-month period ended Jan. 30. That compares with $319 million or 75 cents per share, in the year-ago period. Revenue dropped nearly 7% in the quarter to $4.39 billion. Same-store sales declined 7%.

J.C. Penney continues to be a bright spot in the retail sector with impressive increases in same store sales and earnings, as well as a new marketing campaign that is generating a lot of buzz.

On Thursday the retailer announced that same store sales grew 4.1 % for the fourth quarter ended Jan. 30. A combination of strong sales growth, accelerated gross margins and disciplined expense reduction resulted in full year adjusted EBITDA of $715 million, a $435 million increase.