Retail

Chicago -- Fresh Thyme Farmers Markets, a new specialty grocer format featuring value-priced healthy and organic offerings, announced Wednesday that it plans to open over 60 stores and create approximately 5,000 new jobs throughout the Midwest over the next five years. The company's first store will open in Mt. Prospect, Ill., this spring, followed by eight more grand openings, spread out between Illinois, Indiana and Ohio, throughout the remainder of this year. The retailer will enter Michigan, Missouri, Wisconsin and Minnesota in 2015.

New York – The board of directors of Foot Locker Inc. has elected Steven Oakland as a director of the company. Oakland is currently president -international, foodservice, and natural foods of The J.M. Smucker Company.

Oakland has spent the bulk of his career at The J.M. Smucker Company, serving in increasingly senior positions. He has extensive experience in domestic and international retail operations at the company, having also served as president of U.S. Retail for Smucker's, Jif, and Hungry Jack.

Signet Jewelers is in the process of acquiring all issued and outstanding stock of Zale for $21 per share in cash consideration. The transaction brings together two leading jewelry retailers with six brands available across three countries with combined sales of $6.2 billion.

Singapore – F.J. Benjamin Holdings Inc., a developer and manager of retail brands including Gap, Banana Republic and Guess, in Asia, has deployed the traffic intelligence application from Tyco Retail Solutions. The company sought a clear understanding of how the differently branded stores’ locations compared with each other, as well as the ability to track shopper conversion rates within each store.  

Emeryville. Calif. - Jamba Juice Company has unveiled its new Jamba Insider Rewards customer loyalty program in stores nationwide. Now, typing a phone number entry on a touch-screen allows Jamba Juice customers to earn rewards, personalized offers, and free products without the need to carry a rewards card at every point of sale.   

More Americans this year are expected to put their tax returns in the bank. According to the National Retail Federation (NRF)’s Tax Returns Survey conducted by Prosper Insights & Analytics, 46% of those expecting a refund this year will put their money into savings, up from 44% last year and the highest percent in the survey’s history.

New York -- Traditional retail categories are increasingly blurring, and more and more shoppers are turning to drug stores and other types of outlets to buy groceries, according to a survey of Millenial, Gen X and Baby Boomer consumers. The study was conducted by retail design firm King Retail Solutions in conjunction with the University of Arizona Center for Retailing.

Toano, Va. – Lumber Liquidators reported impressive results for the fourth quarter and fiscal year 2013. For the quarter, net income increased 50.6% to $20.8 million, from $13.8 million in the fourth quarter of the prior year.

Net sales increased $47.8 million to $258.4 million in fourth quarter 2013, from $210.7 million in fourth quarter 2012. Same-store sales increased 15.6% for the quarter, driven by an 8.6% increase in the number of customers invoiced and a 7% increase in the average sale.