Retail

Atlanta - The Home Depot has named Craig Menear president, U.S. retail, effective immediately. Menear was previously executive VP, merchandising, responsible for all merchandising departments and merchandising services and strategy; the company's supply chain network; global sourcing; vendor management; marketing; and online sales.

Dublin, Calif. -- Ross Stores’ said its Ross Dress for Less  will open three new locations in Texas on March 8, for a total of over 160 stores in the chain’s second largest state. The new Texas stores will be located in the Katy Mills shopping center in Katy, Rayzor Ranch Marketplace in Denton, and The Pavillions in El Paso.  

Ross is also expanding its dd’s Discounts brand, opening two new locations in Northern California on March 1. The new stores are in White Road Plaza in San Jose and Hatch Road Center in Ceres.

Minneapolis – Best Buy’s “Renew Blue” cost reduction program appears to be succeeding, as the retailer reported profit instead of loss during the fourth quarter and fiscal year 2013. The improvements came even as revenues in both periods declined compared to the same periods a year earlier.

During the fourth quarter, Best Buy reported net earnings of $311 million, a substantial improvement from its $460 million net loss a year earlier and above Wall Street projections.

As far as sales go, Sears Holdings didn’t have a very happy holiday. But the company was still able to narrow its loss for the fourth quarter, as it lowered expenses and reduced inventory.

The company said the costs of transforming into a member-centric retailer using an integrated online platform and the omnichannel Shop Your Way membership program fueled its net losses. It attributed declining revenues to lower same-store sales and having fewer stores in operation.

San Diego -- As part of a restructuring, Sony Electronics announced plans to close 20 U.S. Sony stores, along with a total staff reduction of one-third by the end of the calendar year.

San Francisco – PBTeen, a Williams-Sonoma banner aimed at young consumers, has launched a design blog aimed specifically at teens. The vision of the blog, known as The Stylehouse, is to give tweens and teens a place to find design inspiration and fuel their budding imaginations for home décor.

Content will be created by PBteen editors, brand ambassadors and curated blogger partnerships. The blog will focus on four primary channels of decorating, celebrating, dorm, and behind the scenes.

eBay Enterprise, a leading global provider of commerce technologies, retail order management, fulfillment and customer care services and marketing services for retailers and brands, has extended its partnership with Karmaloop to provide marketing solutions that increase conversion.

By Carrie Smith, [email protected]

It is undeniable that fast-casual restaurant chains in North Florida and South Georgia are resuming their expansion plans. The local unemployment rate ended 2013 under 6%, home building permits jumped nearly 30%, and car sales climbed — all signs of an improving local economy.