eCommerce

Secaucus, N.J. -- The Children’s Place Retail Stores Thursday reported lower profit for the fourth-quarter amid intense promotions and severe storms. The retailer also said it is renaming the company.

Net earnings in the fourth quarter, ended Feb.1, fell 18% to $15.7 million, from $19.1 million in the year-ago period, which had an extra week.

Net sales in the quarter totaled $467.5 million, down from $509.2 million in the year-ago period. Same-store sales declined 4.3%.

Walmart’s tepid sales performance in the fourth quarter is water under the bridge, so when Walmart U.S. CEO Bill Simon spoke this week at an investor conference he quickly focused on the growth potential of smaller stores, which are being expanded at a more rapid pace.

Los Angeles — A private buyer has acquired Huntington Plaza, a 57,148-sq.-ft. shopping center in Monrovia, Calif., in the San Gabriel Valley. Anchored by Sprouts Farmers Market and Walgreens, the center was 96% leased at the time of the sale. The tenant roster includes McDonald’s, Jersey Mikes, Flame Broiler, Great Clips and Pacific Dental.

The owner engaged Studley and Colliers International to offer the property for sale. The two companies have jointly handled the leasing of Huntington Plaza for more than six years.

Ongoing weakness at Staples' North American retail division has resulted in the planned closure of 225 units as part of a larger expense savings program and increased emphasis on digital initiatives.

The store closure announcement, part of a larger plan expected to save $500 million by the end of 2015, was announced in conjunction with the release of fourth-quarter results and new insights regarding the company’s online business.

Houston – Stage Stores' fiscal fourth-quarter net income plunged 30%, stung by a charge tied to the sale of its Steele's off-price division and softer revenue. Its adjusted earnings, however, topped analysts' estimates.

Stage Stores announced that it is selling its off-price retail division Steele's to Hilco Global Retail Group in an equity deal.

For the quarter ended Feb. 1, Stage Stores earned $24.9 million, down from $35.8 million in the year-ago period.  

York, Pa. - The Bon-Ton Stores Inc. has signed a lease with Duke Realty Corp for a 743,000-sq.-ft., automated, direct-to-consumer fulfillment center in West Jefferson, Ohio, to support its growing e-commerce operations. The company anticipates the facility to be fully operational and ship its first orders in spring of 2015.

New York -- A new white paper from Austin, Texas-based Accruent offers retailers insights into key project management challenges.

Called “The Business Case for an Automated Project Management Solution,” the paper discusses ways to maximize store profitability by reducing the time and cost required to open new locations. It also summarizes research findings that support automating project management toward portfolio-wide visibility and maximum real estate asset value.

Bad weather and a reduction in food stamps didn’t seem to have an effect on Kroger during the fourth quarter as the retailer posted a 4.3% increase in identical-store sales, meaningful profit improvement and offered an optimistic outlook for the year ahead.