Discount Store

New York -- Saks Fifth Avenue Off 5th will open its first metro downtown store, on Market Street in downtown San Francisco. The new 40,500-sq.-ft. store will celebrate its grand opening on May 28.

“This store is the first Saks Fifth Avenue Off 5th store in a city center, and we believe San Francisco is an ideal location as we begin to expand into metropolitan markets,” said Jonathan Greller, president of outlets, Hudson’s Bay Company, parent company of Saks.
 

Saks Fifth Avenue is expanding its off-price business to major urban centers with a new OFF 5th store opening in downtown San Francisco.

The new 40,500 square foot store features an assortment of more than 800 brands from top designers to emerging labels, with fashion and accessories for women and men arriving weekly.

The chairman of the board at 99 Cents Only Stores has assumed the role of CEO and president effective immediately.

Andrew Giancamilli will become the new interim president and CEO, replacing Stéphane Gonthier.

Waban, Mass. - Chick-fil-A took the second spot in the annual Temkin Customer Service Ratings, tops among all retailers and food service chains. Other retailers and food service companies in the top 12 include Aldi, Trader Joe's, Publix, Panera Bread, H-E-B, Amazon.com, and Bed Bath & Beyond.

Supermarkets, retailers, and banks, as an industry, earned average ratings of "strong.” Retailers RadioShack and Sears were ranked at least 15 points below retail industry average.

Dublin, Calif. – Ross Stores Inc. topped Wall Street expectations with net earnings of $282 million in the first quarter of fiscal 2015, up 15% from $244 million in the year-ago period. A one-time benefit related to timing of packaway costs (when a discount retailer buys end-of-season merchandise to sell at a markup the following year) boosted profits.
  The off-price retailer reported that its sales rose 10% to $2.93 billion from $2.68 billion in the year-ago period.  Same-store sales increased 5%.

Improved merchandising and e-commerce initiatives helped Shoe Carnival post first quarter gains in profits, earnings and sales.

The company reported that net sales increased $17 million to a first quarter record of $252.8 million, as compared to net sales for the first quarter of fiscal 2014. Same store sales increased 3%. Earnings per diluted share for the first quarter increased 15.6% to 52 cents.

Dollars Tree’s first quarter sales were less than expected, it is divesting more of the acquired Family Dollar stores than expected and closing the merger is taking longer than expected.

Stein Mart is not only growing its footprint but the off-price retailer is also growing same store sales as well.

Same-store sales rose 4.8% in the first quarter ended May 2. Net income fell 3% to $13.6 million from $14.1 million a year earlier, with higher loan interest expense a major contributor. Net sales increased 7% to $353.5 million, from $328.9 million.