Department Store

Dublin, Calif. – The Ross Stores Inc. board of directors has approved a two-for-one stock split on June 11, 2015. The split will be paid in the form of a 100% stock dividend to stockholders of record as of April 22, 2015.

Washington, D.C. -- The average person celebrating Easter this year will spend $140.62, slightly more than last year’s $137.46, according to the National Retail Federation’s Easter Spending Survey conducted by Prosper Insights & Analytics. Total spending for Easter is expected to reach $16.4 billion.

Most Americans plan to stock up on food and clothing for the Easter holiday, according to the National Retail Federation.

NRF’s Easter Spending Survey conducted by Prosper Insights & Analytics reports that the average person celebrating Easter will spend $140.62, slightly more than last year’s $137.46. Total spending for Easter, which includes purchases of apparel, decorations, gifts, candy, food, flowers and more, is expected to reach $16.4 billion.

New York – New York & Company Inc. reported a net loss of $6.7 million in the fourth quarter of fiscal 2014, compared to net income of $6.9 million in the same quarter a year earlier. A variety of costs, including increased selling, general and administrative (SG&A) expenses as well as expenses related to relocation of corporate headquarters and severance, contributed to New York & Company’s negative profit results.

Omaha, Neb. – Net income at Gordmans Stores Inc. dropped 15% to $2.3 million in the fourth quarter of fiscal 2014, from $2.7 million the same period a year earlier. Increased selling, general and administrative (SG&A) costs helped push down profits.

In 2015, the company plans to open six new stores, two of which opened in the Cleveland area earlier in March. Gordmans also plans to close one store later in 2015 when the lease term expires.

Deep holiday discounts and the West Coast port dispute hurt profits at New York & Company Inc. during the fourth quarter.

A strengthening dollar hurt Tiffany & Co. a lot more than Wall Street was expecting in the fourth quarter, as the upscale jeweler reported a surprising sales decline.

Paramus, N.J. -- Ripco Real Estate has leased the former Fortunoff Building at 150 Route 17 northbound in Paramus, New Jersey, to Bob’s Discount Furniture.

Without a permanent tenant since July 2009, Ripco was hired in mid-October 2014 to lease the property.  Five months later, through the efforts of Ripco’s New Jersey team, lead by Ira Kerner and Alison Horbach, the landlord has executed a lease with the discount retailer.