Supply Chain & Merchandising

Fort Myers, Fla. – Chico’s FAS Inc. announced plans to open 40 new stores and spend $30 million rolling out new POS systems, including mobile technology, in fiscal 2015. But the retailer also said it would shutter 120 existing locations over the next two years to improve its overall store fleet productivity and slash jobs. The closings are expected to ultimately result in expense savings of approximately $55.2 million upon completion.

Jacksonville, Fla. - Stein Mart is opening 11 new stores this year as part of the company's accelerated store growth that began in 2014. The new stores include the company's March opening of the first-ever San Francisco Bay area location in Cupertino, California, and 10 additional stores opening in the fall.

This is an increase from the company's earlier estimate of 10 new stores for 2015 announced in November. In 2014, Stein Mart opened nine new stores.

Watsonville, Calif. – Expenses in benefits, share-based compensation, and inventory that exceeded forecasts helped keep West Marine Inc. in the red during the fourth quarter of fiscal 2014. West Marine reported a net loss of $10.3 million, a small improvement from the $11.3 million net loss it reported in the same quarter the prior fiscal year.

Net revenues grew 9% to $129.4 million from $118.8 million. The addition of a 53rd week in fiscal 2014 helped boost that figure. Same-store sales rose 2.8%.

Better than expected fourth quarter same store sales growth and big increase in gross margins have JCPenney eyeing potentially faster topline growth in 2015.

The company said its same store sales for fourth quarter ended Jan. 31 increased 4.4%, above the forecast range of 2% to 4% provided at the end of the third quarter. Total sales increased 2.9% to nearly $3.9 billion and online sales grew 12.5% to $428 million.

Plano, Texas -- J.C. Penney swung to an unexpected loss in its fourth quarter amid heavy holiday discounter. But the retailer reported strong, better-than-expected sales, particularly on the online front.  

Penney posted a loss of $59 million for the quarter ended Jan. 31, compared to a profit of $35 million in the year-ago period. (Penney benefitted from a one-time tax benefit last year.)
 
Total sales rose 2.9% to $3.89 billion from $3.78 billion a year ago. Online sales rose 12.5% to $428 million from a year ago.

Stronger traffic and an increase in the size of the average basket are among the reasons Ross Stores’ CFO cited for the company's robust fourth quarter performance.

Stronger demand for clothing and accessories during the holiday season helped Kohl's Corp. post an increase in same store sales for the fourth quarter after five straight quarters of decline.   The retailer reported that same store sales rose 3.7% for the fourth quarter. Net income rose 10.5% to $369 million, or $1.83 per share, while net sales increased 4% to $6.34 billion. Analysts on an average had expected earnings of $1.80 per share and revenue of $6.33 billion.  

Dublin, Calif. -- dd’s Discounts, a division of Ross Stores, Inc., will open a new store in north Jacksonville, Florida.  The opening is slated for Feb. 28.

The new store is located in Highland Square at Dunn Avenue and Monaco Drive off Interstate 95. Florida is the retailer’s third largest state with a total of 25 stores. Including this new location, dd’s Discounts will operate over 150 locations in 15 states.