Department Store

New York -- Nordstrom is going to be a big success in Canada, according to Antony Karabus, president, Hilco Retail Consulting. (Nordstrom has plans for six stores in Canada, with the possibility of adding a few more over time.) “Every one of the six stores they (Nordstrom) picked in Canada is a home run in terms of the location. It’s the perfect time, perfect sector and the perfect time in the sector,” Karabus said during a recent presentation on “The State of the Canadian Retail Market.”

New York – Ann Inc., owner of Ann Taylor and Loft, on Friday reported better-than-expected fourth-quarter profit but forecast a lower-than-expected outlook for the year. The retailer also announced a strategic realignment that includes integrating stores and e-commerce and will result in the loss of about 100 corporate jobs.

Severe winter weather may have affected Brown Shoe Company’s fourth-quarter results, but CEO, president and chairperson Diane Sullivan focused on the company’s fiscal-year results as she looks ahead to growing the retail and wholesale businesses in 2014.

New York -- Dollar General, Ross Stores and Dick’s Sporting Goods are bullish on expansion. For 2014, Dollar General has budgeted $450 million to $500 million for capital expenditures, and plans to open 700 new locations. This follows a record year of square footage expansion during which the extreme-value discounter opened 650 stores. Ross Stores also continues to expand in 2014. The off-price apparel and home fashions retailer is on track to open about 95 new locations in 2014, comprised of about 75 Ross Dress for Less and 20 dd's Discounts.

Chattanooga, Tenn. — CBL & Associates Properties has announced its newest community center development, Parkway Plaza, a 134,100-sq.-ft. project in Fort Oglethorpe, Ga. Construction will begin in June, with the grand opening scheduled for spring 2015. Once complete, the 16+-acre site will offer several national retailers new to the area including anchor stores Hobby Lobby, Marshalls and Petco.

Jacksonville, Fla. – Stein Mart Inc. reported drops in net income and sales during the fourth quarter of fiscal 2013, which it mainly attributed to the year-ago period having one extra week. The retailer remains optimistic as it plans to open 10 new stores and six relocated stores in fiscal 2014.

Fourth quarter net income dropped 42% to $7.4 million from $13.1 million compared to the same period in the prior year, while total sale declined 2% to $360.8 million from $368.6 million. In one bright note, same-store sales grew 3.1%.

New York -- Aeropostale on Thursday announced it has signed an agreement with private equity firm Sycamore Partners for $150 million in financing and a strategic partnership. The teen retailer also reported its fifth straight quarterly loss amid a 15% decline in same-store sales, and announced it will close 50 stores in 2014.

Sycamore will provide Aeropostale with a five-year $100 million term loan facility, and a ten-year $50 million term loan facility that includes a sourcing arrangement with MGF Sourcing, an affiliate of Sycamore.

Genesco chairman, president and CEO Robert J. Dennis said that the company’s overall fourth-quarter results were lower than expected, thanks to inconsistent sales patterns and severe winter storms that affected its key markets.

All is not grim, however, as the company is making investments to bolster its omnichannel capabilities, which Dennis expects will protect near-term profitability and allow the company to expand its retail footprint.