Sales & Marketing

Highly promotional activity and increased multichannel initiatives not only helped Shoe Carnival hit its expectations, but exceed $1 billion in net sales for the year.   For the quarter ended January 28, 2017, the retailer’s net sales were $234.2 million, a 0.2% increase, compared to net sales of $233.7 million for the fourth quarter of fiscal 2015. While it was in line with its goals, this was just shy of Wall Street’s prediction for sales of $235 million.  

The baton has officially been passed at Macy’s.   Jeff Gennette has been named as the department store chain’s new CEO, succeeding Terry Lundgren, who will continue as executive chairman.   Gennette, who has served as Macy’s president since 2014, is Lundgren’s handpicked successor. Prior to becoming president, he was appointed Macy’s chief merchandising officer in 2009.  

The department store chain is putting a new spin on formalwear rentals.   Through its partnership with tuxedo rental startup The Black Tux, Nordstrom hopes to attract male millennials to its new formalwear showrooms in six stores, according to ReCode.  

Online gaming is taking its toll on GameStop in a big way.   The retailer said that its video game category was weak, particularly in the second half of the year. This challenge, combined with shoppers’ attraction to online gaming, contributed to a total global sales decrease of 13.6% to $3.05 billion for the fourth quarter ended January 28, 2017.   The company earned $208.7 million, in the fourth quarter, compared with profits of $247.8 million for the same period a year ago.  

Jo-Ann Fabric and Craft Stores is getting merchandise into its shoppers’ hands faster.   The arts and crafts retailer is launching buy online, pick-up in-store (BOPIS) — a free service that allows its digital shoppers to pick-up online orders at any of its 862 stores chainwide.  

Williams-Sonoma is throwing its hat into the 3D app ring.   Later this month, the chain’s Pottery Barn banner will introduce 3D Room View. The augmented reality mobile app, which is based on Google’s AR technology Tango, enables shoppers using Tango-enabled smartphones to “virtually” place Pottery Barn merchandise in any of their rooms. The goal: to enable shoppers to see how products look and fit with their existing furniture and decor — or in an empty room.   

The Pinnacle Nord du Lac Shopping Center on the north end of the world’s longest bridge — the Lake Pontchartrain Causeway — is adding about 30% to its size.   Property owner Cypress equities has begun construction on an 94,500 sq. ft. of GLA that will house new lifestyle retail and restaurants at the Covington, Louisiana, center that currently spans 327,000 ft.  

Five Below Inc. reported its 11th consecutive quarter of positive same-store sales results amid bullish growth plans for the current year.   The value retailer, which targets tweens and teens with a wide array of goods all priced at $5 or below, said it will open 100 stores in 2017, including its first ever locations in the state of California. The chain opened 85 net new stores in 2016.