eCommerce

Toronto -- Canadian retail giant Hudson’s Bay Co. (HBC) has entered into two blockbuster deals, forming joint ventures with Simon Property Group and Canada’s RioCan Real Estate Investment Trust to target real estate growth opportunities in the United States and Canada. Both ventures are structured to facilitate an IPO at a later date.

The partnerships, which combined are valued at about $3.4 billion at the current exchange, are the latest example of retail companies moving to leverage their valuable real estate assets.

MINNEAPOLIS — Target closed out a “year of transition” and is now looking to the future as it sharpens its focus on key priorities, including digital, smaller formats and wellness.

Irving, Texas – Paris has inspired great works of art, film and literature, and now the City of Light is inspiring an omnichannel contest at The Michaels Companies Inc. The specialty arts and crafts retailer is preparing for “Springtime in Paris,” a contest where customers will create Parisian-inspired art, or a floral, baking or paper craft project, take a photo and upload it or share on social media.

Dillard’s CEO credited an improved assortment and top-notch service with the company’s best sales performance of 2014 in the fourth quarter.

The company reported fourth-quarter net income of $130.5 million, up 9.5% from $119.1 million. Same-store sales rose 3% to $2.136 billion. Dillard's took in $2.18 billion in revenue during the fourth quarter, up from $2.08 billion during the same period last year.

New York - Luxury retailer Bergdorf Goodman has partnered with Borderfree, a provider of international cross-border e-commerce solutions, to open its website and sell to international shoppers with BFX, Borderfree’s new global e-commerce platform for retailers.

Michaels is trying to drive digital engagement with customers by giving away the springtime trip of a lifetime. 

The retailer will be offering up a free trip for two to Paris for those who create art and upload it to Michaels' website or social media venues.

North Bergen, N.J. – Vitamin Shoppe Inc. expects to open about 60 new stores during fiscal 2015. This plan follows a successful fourth quarter of fiscal 2014, with a net income increase of 3% to $11.6 million from $11.2 million the same period the prior year.

A lower selling, general and administrative (SG&A) rate helped boost net income. Total net sales increased 13% to $290.1 million compared to $256.4 million. Same-store sales grew 1.7% and e-commerce same-store sales rose 5.6%.

Office Depot posted a larger profit in the fourth quarter, but the retailer says currency pressures, market challenges and its tentative merger with Staples could negatively affect sales in 2015.

Office Depot reported a profit of 7 cents a share, compared with a year-earlier loss of 5 cents a share. Analysts polled by Thomson Reuters had projected earnings of four cents a share on revenue of $3.91 billion.