eCommerce

Fourth quarter profits at Stein Mart were cut in half as the company relied on heavy promotional activity to clear inventory and eke out a 1% same-store sales increase.

The rumors are true – Whole Foods Market and Instacart are taking their relationship to a new level.

The organic grocer and online delivery service officially announced a deepening of their partnership, which had been reported in the media for the past few weeks.

The CEO of Toys"R"Us says increases in same store sales and profit show that the company is on the right path toward strategic growth.

For the fourth quarter ended Jan. 30, the company earned $276 million, up from $265 million a year earlier. Revenue fell 2.6% to $4.9 billion. Same store sales increased 2.3%.

The company formerly known as Men’s Wearhouse plans to significantly reduce its physical presence this year by closing 250 stores, including more than 20% of the Jos. A. Bank stores acquired in 2014.

The major reduction is selling space by the company which changed its name to Tailored Brands earlier this year was announced in conjunction with the release of weak fourth quarter results that were in line with previously released results, which showed Jos. A. Bank stores had 32% decline in same-store sales.

ModCloth is going on tour this summer.

The online apparel retailer known for its indie and vintage-inspired styles is launching the “ModCloth IRL (in real life) Tour,” a series of five pop-up shops.

The IRL shops are modeled after ModCloth’s first-ever physical outpost, a pop-up in San Francisco. The store opened last July and is due to close March 26.

American Eagle Outfitters announced that Mary Boland, chief financial and administrative officer, plans to retire effective April 1, 2016.

The retailer is currently conducting an active search for a successor.

In the interim, Scott Hurd, American Eagle’s chief accounting officer, will lead the day-to-day management of the finance team and assume the role of interim CFO.

Buoyed by strong holiday sales, Express reported impressive results for its fourth quarter as the company’s turnaround remained on track. The chain issued an upbeat earnings forecast for the full year.

The specialty retailer reported better-than-expected net income of $56.1 million, or 67 cents per share compared to $41.8 million, or 49 cents per share, in the year-ago period.

Irvine, Calif. -- Irvine Company has announced it will begin a transformation $30-million reinvestment in Woodbridge Village Center located in Irvine, California. The redevelopment of the center includes upgrading the retail, dining and entertainment mix to complement longtime favorites, freshen the architecture for a coastal California feel, and create an expansive outdoor setting for dining, relaxing and community gatherings that overlooks North Lake.