Supply Chain & Merchandising

The rebounding housing market lifted Lowe's financial results in the first quarter, although not as much as Wall Street expected.  

Grand Rapids, Mich. — Meijer announced Wednesday that it has signed an agreement to acquire Aureus Health Services, a national specialty pharmacy and health services company based in Pittsburgh, and a portfolio company of BelHealth Investment Partners, to enhance its customer offerings, particularly to patients with complex chronic conditions.
 

Nashville, Tenn. -- Epicor Software Corporation announced that teen apparel retailer Rue 21  has selected the Epicor QuantiSense Retail Business Intelligence suite to support enterprise-wide reporting and analytics across merchandising, store operations and digital retail.

rue21 has relied on the Epicor Retail technology suite for years, most recently to help support the company’s extensive growth into new markets and merchandise categories, including a junior plus size division, rue+, launched in 2014.
 

Improved, "costumer-focused" merchandising helped American Eagle Outfitters post record net income in the first quarter.

Framingham, Mass. -- Staples Inc. reported a 39% decline in first-quarter profit amid declining sales and store closures. The results came as the chain is waiting for regulatory approval of its proposed takeover of rival Office Depot.

Staples reported a profit of $59 million, down from $96 million a year earlier.

Revenue slid 6.9% to $5.3 billion. Online sales grew 3%.

Same-store fell 5% in the quarter. Store traffic was down 2%, and the average order size fell 3%.

Traffic problems continued to hinder Staples in the first quarter even as the company awaits regulatory approval of its merger with Office Depot. 

Menomonee Falls, Wis. -- Kohl’s Corp. confirmed reports that it will soon begin testing a highly discounted format, called "Off Aisle by Kohl’s,” with a store set to open in early June in Cherry Hill, New Jersey.

Target’s efforts to revamp its product assortment are apparently paying off for the company, which reported a nearly 52% surge in first quarter profit on strong sales of fashion, home and beauty products.

The company posted a profit of $635 million for the three months that ended May 2. Same store sales rose 2.3%, beating forecasts. Revenue rose 2.8% to $17 billion. Online sales rose nearly 38%.