Distribution

Family Christian is going out of business.   The company said Thursday, Feb. 23 that it plans to close all 240 stores across 36 states, according to Reuters.    Family Christian filed for Chapter 11 bankruptcy in February 2015 with more than $120 million in debt. Since then, the chain continued to face a sales slump amid growing competition from online stores.  

Wayfair credits innovation, increasing brand awareness and repeat customers for its strong fourth quarter growth.   The home decor brand’s total net revenue for the fourth quarter ended December 31, 2016, rose 33.1% from last year to $984.6 million, topping analysts’ expectations for $975.32 million. The company’s gross profit was $238.6 million, or 24.2% of total net revenue.  

Walmart’s house brands are getting a new audience — millennials.   Jet.com, which caters to the cost-conscious Gen Y segment, has started offering private label brands — Great Value, Equate and Sam’s Choice — from its parent company, Walmart, according to Bloomberg.   

Better control over pricing and inventory helped boost Havertys fourth quarter earnings, beating analyst expectations.   Net sales for the quarter ended December 31, 2016, increased 2.2% to $220.6 million, compared to analyst expectations of $220.61 million.   Same-store sales rose 2.5%, and the average written ticket was up 2.6%, while custom upholstery written business rose 1.9%.  

Staying true to its recently announced growth plan, Dollar General is preparing to break ground on a new distribution center.   

Walmart on Tuesday reported a solid fourth quarter amid a big increase in online sales and higher store traffic. The company also announced it is raising its dividend.   Walmart earned $3.76 billion, or $1.22 per share in the quarter ended Jan. 31, compared with $4.57 billion, or $1.43 per share, in the year ago period. Walmart’s earnings were impacted by investments in its digital business as it continues to boast its defenses against Amazon and other online competitors.    

It’s closing time for MC Sports.   The chain, which filed for Chapter 11 bankruptcy protection on Feb. 14, is closing all 66 of its stores across the Midwest. A joint venture between Tiger Capital Group and Great American Group is conducting the going-out-of-business sales, which are now underway.  

The formerly high-flying Nasty Gal has been brought down to earth — and not in a good way.   The bankrupt fashion retailer will close its two Los Angeles-area stores by the end of February, the Wall Street Journal reported.    On Feb. 8, U.S. Bankruptcy Court for the Central District of California approved the sale of Nasty Gal’s intellectual property and customer database to British online fashion retailer Boohoo.com, which is seeking to speed up its expansion in the United States.