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OfficeMax cuts costs with reduced store count
NAPERVILLE, Ill. — Following a substantial decline in net income for its fourth quarter, OfficeMax is keeping costs in mind by reducing its retail store count in the upcoming year.
For the next fiscal year, the company said it plans a net reduction in retail store count with up to 35 store closures and one to two store openings in the United States, as well as eight to nine store openings and one to two store closures in Mexico.
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Chico’s Q4 earnings up 21%
Fort Meyers, Fla. -- Chico's FAS reported that its fourth quarter earnings rose a better-then-expected 21%, helped by a strong performance of its White House | Black Market brand.
For the quarter, the chain posted a profit of $25.1 million, up from $20.7 million a year earlier.
Sales rose 20% to $569.2 million. Same-store sales increased 8.7%. By division, the Chico's/Soma Intimates brands' comparable sales increased 5.5% and White House | Black Market same-store sales increased 15.4%.