Supply Chain & Merchandising

New store expansion and expectations for same-store sales growth are in store for Michaels Companies in 2016, according to CEO Chuck Rubin.

Rubin sounded an optimistic tone about Michaels’ future following the release of fourth quarter results he characterized as “strong” and attributed to an improved shopping experience, increased customer communications and trend right holiday assortments.

Cato Corp., just delivered its highest earnings in company history and sales topped $1 billion, but chairman, president and CEO John Cato said the road ahead could be rocky.

Cato, operator of 1,372 stores in 32 states, said its fourth quarter sales increased 4% to $247.3 million and same-store sales increased 1%. Full year sales increased 2.4% to slightly exceed $1 billion, but the addition of 31 new stores was the primary driver of full year growth as same-store sales were flat.

Leading off price apparel retailer Ross Stores is feeling the “Bern,” and named long time merchant Bernie Brautigan to the role of president of merchandising.

Brautigan previously served as Ross Stores’ group executive vice president of merchandising since 2014. He will continue to report to Ross CEO Barbara Rentler in his new role and be responsible for the ladies apparel businesses, children's, shoes, and accessories.

The combination of an unspecified number of new stores, e-commerce and same store sales growth will enable Guess Inc., to surpass annual sales of $3 billion in three years, according to new CEO Victor Herrero.

Guess ended its most recent fiscal year with total sales of roughly $2.2 billion, but CEO Victor Herrero, who joined the company last July from Inditex, believes the company can add $800 million in worldwide volume in the next three years, despite sales and profit declines last year.

White Plains, N.Y. -- The Wilder Companies announced it was awarded the leasing and management contract for The Source at White Plains, a specialty shopping center in White Plains, New York.

The Source at White Plains is a 250,000 sq. ft., four-story shopping center with adjoining parking garage. The center feature retailers include: Whole Foods Market, Dicks Sporting Goods, Raymour & Flanigan, The Cheesecake Factory, Morton’s The Steakhouse, and Destination Maternity.

Finish Line has hired a high power technology executive to make sure it avoids recent technology implementation challenges in the future while keeping pace with athletic footwear consumers’ desire for an omnichannel experience.

Ikea on track to make its Nevada debut this spring.

The home furnishings retailer will open a store in Las Vegas, on Wednesday, May 18. It will be the Swedish company’s first location in Nevada, and 42nd in the United States.

The 351,000-sq.-ft. Las Vegas Ikea is being built on 26 acres along the northern side of the 215 Beltway at Durango Drive, near Sunset Road.

The store will host Nevada’s largest single-use retail rooftop solar array, consistent with the solar presence at 90% of its U.S. locations.

Finish Line has hired a high power technology executive to make sure it avoids recent technology implementation challenges in the future while keeping pace with athletic footwear consumers’ desire for an omnichannel experience.