Department Store

Menomonee Falls, Wis. -- Kohl’s Corp. confirmed reports that it will soon begin testing a highly discounted format, called "Off Aisle by Kohl’s,” with a store set to open in early June in Cherry Hill, New Jersey.

A legal veteran of Abercrombie & Fitch and Harvard Law grad has been named general counsel for Big Lots.

Ronald "Rocky" Robins Jr. becomes SVP general counsel and corporate secretary at Big Lots. Robins will be a member of the executive leadership team of the company and report directly to David Campisi, CEO and president.

Seattle -- Nordstrom plans to further expand its San Diego County presence with the addition of a Nordstrom Rack at The Shops at La Jolla Village in La Jolla, California.

The approximately 32,000-sq.-ft. store is scheduled to open in fall 2016. The property is owned by Alecta Real Estate USA, LLC. When it opens, it will be the fifth Nordstrom Rack in the San Diego area and about one mile west of Nordstrom at University Towne Centre.

Kohl’s is testing the off-price waters by opening a discount store in Cherry Hill, N.J., this summer called "Off Aisle by Kohl's," the company has confirmed.

New York -- Swedish fast-fashion giant Hennes & Maurtiz AB (H&M) on Wednesday unwrapped its largest store in the world, in New York City’s Herald Square. The 63,000-sq.- store, which is located across from Macy’s, has a custom illuminated store front that wraps around 33rd Street, 34th Street and 6th Avenue. It is the retailer’s 13th store in New York City.

Houston – Stage Stores Inc. beat Wall Street expectations with a loss but missed with decidedly revenue in the first quarter of fiscal 2015. The retailer reported net loss of $8.64 million, an improvement from a net loss of $18.79 million the same quarter a year earlier.

Framingham, Mass. – The TJX Cos. enjoyed a successful first quarter of fiscal 2016 that included profit results surpassing Wall Street expectations. TJX reported net income of $474.6 million, up 4% from $454.32 million a year earlier.

Growth in expenses and cost of sales did not keep pace with revenue growth, resulting in higher pretax income that fueled the profit increase. Net sales rose 6% to $6.86 billion from $6.49 billion. Total same-store sales growth of 5%, driven by increased customer traffic, helped boost revenue.

Strong traffic continues to boost sales and profit at TJX Cos. Inc., which raised its annual guidance after reporting that earnings rose 4.5% in the first quarter.

The off-price retailer said that net sales for the first quarter ended May 2 increased 6% to $6.9 billion, and same store sales increased 5%. Net income for the first quarter was $475 million, and diluted earnings per share were 69 cents, an 8% increase over the prior year.