Retail

The Woodlands, Texas – Conn’s Inc. released preliminary fourth quarter net sales and same-store sales results for its retail segment that suggest strong financial performance. On a year-over-year basis, Conn’s net sales for the fourth quarter of fiscal 2014 were an estimated $301.6 million, increasing $93.3 million, or 44.8%, from the same period last year.

Gap contends its decision to increase the hourly rate it pays workers wasn’t political, but it sure looked otherwise given the timing of the move against the backdrop of the intensifying national debate over the minimum wage.

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Walmart knew fourth quarter results announced Thursday morning were going to be bad and its outlook weak so it gave investors something more substantial to digest by announcing plans to double the number of small format stores it will open this year and an increased omnichannel focus.

Seattle - Starbucks Coffee Company has named Starbucks Canada executive VP and president Annie Young-Scrivner as executive VP and president, Teavana. Nine-year retail operations executive and employee resources senior VP Rossann Williams has been appointed senior VP and president, Starbucks Canada.

Teavana founder and CEO Andy Mack, having helped with the integration of Teavana with Starbucks, has decided to retire from the company.

Vertical footwear retailer Keds is launching an omnichannel marketing campaign called the “Keds Brave Life Project.” The campaign is aimed at encouraging positive development of girls and young women.

Boca Raton, Fla. – As part of its “Maxing Out Diversity” program, OfficeMax is partnering with healthcare company ViaQuest to develop a work-training facility and direct employment program to prepare veterans and people with disabilities for job opportunities at Ohio-based OfficeMax locations. The program, which will launch in summer 2014, is similar to those that OfficeMax has initiated in Alabama, Illinois, and Nevada.

Engaged Capital, an investment firm specializing in small and mid-cap North American equities and stockholder of Abercrombie & Fitch Co., has named five nominees for the Abercrombie & Fitch board of directors.

The nominees are Alexander P. Brick, former CEO of Specialty Retail Group; Robert D. Huth, former CEO of David’s Bridal; Michael W. Kramer, former COO of J.C. Penney; Diane L. Neal, former CEO of Bath & Body Works; and Glenn W. Welling, CIO and managing member of Engaged Capital.