Rent-A-Center is taking another step toward repositioning the company for profitability.
The furniture retailer’s Acceptance Now division is terminating its referral agreement with Conn’s Appliances. These accounts consistently underperformed compared to the rest of its ANow portfolio in terms of delinquencies, losses and product returns.
Ending its fiscal year with a strong fourth quarter has helped J.Jill hit year-over-year earnings growth for 20 consecutive quarters.
For the quarter ended January 28, 2017, the retailer’s total net sales increased by 14.8% to $166.9 million, up from $145.4 million in the fourth quarter of fiscal 2015. Gross profit increased to $105.5 million, up from $91.4 million in the same period last year. As a percentage of total net sales, gross profit was 63.2% compared to 62.9% in the fourth quarter of fiscal 2015.
Having reached a 15-year peak on February, consumer confidence reached a new peak in March, now standing at its highest level in 16 years.
The index's current reading is 125.6, up from 116.1 in February.
“Consumer confidence increased sharply in March to its highest level since December 2000 (Index, 128.6),” said Lynn Franco, director of economic indicators at The Conference Board.
When it comes to expanding its store portfolio, At Home has barely gotten started.
Reporting strong results for the fourth quarter and full year, the home décor retailer also said it plans to open 25 new stores this year, with the potential for almost 500 more locations over the long term.
The Container Store has embarked on an initiative to optimize Web performance, the online shopper experience, and strengthen its Web security.
Looking to significantly increase revenue from desktop, tablet, and mobile channels following a responsive web design launch, the company tapped Yottaa, selecting its online platform following a rigorous evaluation of multiple Web acceleration offerings, including in-depth performance benchmark testing.
Moody's Investors Service has some good news for the U.S. supermarket industry.
Grocery stores’ operating profits will grow at a fairly healthy rate again this year after a disappointing 2016, according to Moody’s new report, "Companies Will Perform Better in 2017 as Deflationary Pressure Wanes. Profitability last year was crimped by an unprecedented level of deflation for an economy not in recession, the report noted, but as downward pressure on prices wanes, things will pick up in the latter half of this year.
Lighting rebates hit a record of sorts in 2016.
Commercial lighting rebates covered 79% of the United States, according to BriteSwitch, which is a record high since the rebate processing company began measuring rebate coverage nine years ago.
The company cited several reasons for the historic high, including that many programs replenished their rebate funds in January. Also, some large programs that ran out of money years ago have come back such as FirstEnergy in Ohio and Duquesne Light in Pennsylvania.
Williams Sonoma Inc. on Wednesday reported adjusted fourth-quarter earnings above expectations and said its board of directors authorized a dividend increase.
In a separate announcement, the company said Sandra Stangl, president of its Pottery Barn brands, will resign from the company March 31. http://www.chainstoreage.com/article/leadership-changes-home-furnishings-retailer
Changes are coming to Christopher & Banks Corp.
On the heels of a 7.8% decrease in its fourth quarter sales, the women’s apparel retailer is launching a new merchandising strategy that include a bigger focus on fashion over core items.
Christopher & Banks also will review styles on a weekly basis to identify emerging trends and mark down slower-moving products, said interim president and CEO Joel Waller on the company’s quarterly call with analysts.
Weak traffic and unseasonably warm weather impacted Bon-Ton’s earnings for the fourth quarter.
For the period ending January 28, 2017, the department store chain reported net income of $44.7 million, or $2.09 per diluted share. These earnings fell short of analyst estimates by 37 cents.
The chain reported revenue of $900 million for the period, and comparable store sales decreased 4.7%.
