Supply Chain & Merchandising

Francesca’s sales results for the fourth quarter were below its revised guidance, thanks in part to extreme weather conditions, which forced the company to fully or partially close 370 boutiques during January.

Chicago — Simon Property Group has awarded the leasing assignment for a trio of shopping centers totaling more than one million sq. ft. to JLL. Each is located at prime intersections in the southern suburbs of Chicago. They include:

• Country Side Plaza in Countryside, Ill. Anchored by Home Depot and Value City Furniture, the 400,000-sq.-ft. center has junio anchor and small shop space available.

New York -- Coming off a disappointing 2013, Toys “R” Us unveiled a strategic plan to position the company for profitable growth in the future. The plan includes improving its in-store and online shopping experience, simplifying promotions, cutting costs, more disciplined inventory management, and more omni-channel integration with stores. Significantly, it not include closing stores apart from those involving standard lease expirations, top company executives said during a media presentation on Tuesday at the chain’s flagship in Times Square.

Houston -- While 91 new stores boosted sales for the final fiscal quarter and year-end, Francesca’s Holdings Corp. saw net income for the 13-week period ended Feb. 1 slide to $10.6 million, from $14.9 million last year.

Same-store sales fell 6%, swinging from a 10% increase in the prior year quarter. Revenue surged to $92.1 million from $86.7 million, helped by 91 new boutique openings since the prior year quarter.  Five of the 91 opened during the fourth quarter.

Improved demand for cabinetry propelled Norcraft Companies to a fourth-quarter sales increase of 13%.

The maker of kitchen and bathroom cabinetry in the United States and Canada completed its initial public offering in the fourth quarter, in which sales reached $80.5 million.

Gordmans Stores president and CEO Jeff Gordman has resigned his post. According to the company, he is retiring to spend more time with his family as well as to pursue outside interests. Board chairman T. Scott King will serve as interim CEO while the company searches for Gordman’s successor.

Last month, Amazon started hiding listings for certain products if they do not have a GTIN, better known as the Universal Product Code (UPC). Now eBay, Google and Walmart have endorsed a drive to help businesses obtain valid GTINs for products sold online.

Both are significant developments in a larger trend, as major e-commerce players look to dramatically reduce the number of inaccuracies that online shoppers encounter every day.
 

Deerfield, Ill. -- Walgreens on Tuesday reported a profit of $754 million for the second quarter, down from $756 million in the year-ago period, amid lower sales of generic drugs. The retailer also said it will close 76 locations in the second half, although it plans to increase its total store count by 55 to 75 by the end of the year.

Sales for the quarter ended Feb. 28 rose 5.1% to $19.6 billion, beating expectations. Prescription sales, which accounted for 62.2% of sales in the quarter, increased 7.0%.