Omnichannel

After being left for dead four years ago, Pier 1 Imports has recuperated fully to the point where it recently embarked on a new three-year plan to restore growth to the company.

Key elements of the plan call for the acceleration of e-commerce, improvements to existing stores, new store expansion and investments in infrastructure to support the enterprise and improve efficiency.

Fort Worth, Texas -- Pier 1 Imports reported Thursday that net income for the quarter ended Feb. 26 surged 65% to $57.1 million, from $34.5 million a year earlier.
 
The home décor retailer cited improving sales, cost control efforts and strong merchandise margins for the substantial improvement.

Pier 1 also announced a three-year growth plan that includes investing $200 million of capital into its operations and starting a $100 million share buyback.

Grapevine, Texas -- GameStop Corp. has selected Adgregate Markets, a leader in secure social commerce solutions, to provide social shopping on its Facebook page through Adgregate’s proprietary ShopFans solution.

GameStop is the first multichannel gaming company to launch a storefront on Facebook and provide true social commerce to more than 1.8 million Facebook fans.

New York City -- Brooks Bros. said Thursday that it has implemented a mobile optimized website to create a unique mobile shopping experience for its customers, powered by Digby’s Mobile Software Commerce Platform.

With the new mobile presence, customers can now search, review and buy products from Brooks Bros. directly from their mobile devices.

By Emily Millar, [email protected]

Web-related shopping is growing. Forrester Research predicts U.S. online retail sales will reach nearly $250 billion by 2014 with many more billions to be made from shoppers making in-store purchase decisions that are “web-influenced” first.

Ramsey, N.J. -- Welco Realty, an X Team partner, announced that it has signed a lease with Modell’s Sporting Goods for its new smaller-concept store, the retailer’s first in New Jersey.

The store is approximately 8,551 sq. ft., about half its standard size. Modell’s first small-format store opened on Amsterdam Avenue in Manhattan.
 

Satellite television provider Dish Network was selected as the winner of a bankruptcy court auction for the assets of Blockbuster late Tuesday with a bid valued at $320 million, the company announced late that day. The actual cash price Dish will pay is closer to $228 million after adjustments are made for cash and inventory. The deal is expected to close during the second quarter, according to Dish Network.

Cleveland -- Forest City Commercial Management, in partnership with PlaceWise Media, announced Tuesday the launch of the Shoptopia Network.