News

Reductions in food-stamp benefits and falling grocery prices took a toll on Dollar General Corp.’s third-quarter performance which came in below expectations and included an unexpected drop in same-store sales.   The company reported a profit of $235 million, or $0.84 per diluted share, in the quarter, compared to net income of $253 million, or $0.86 per diluted share, in the year ago period. Its profit included a charge of about 5 cents per share for store relocation costs and disaster-related expenses.  

Express reported a drop in third-quarter profit and slashed its full-year adjusted earnings outlook, warning that the holiday season will "remain challenging."   In recent days, an array of apparel retailers have expressed caution about the holiday selling season, including Gap, Abercrombie & Fitch  and American Eagle Outfitters.    Express earned $11.6 million, 15 cents per share, for the quarter ended Oct. 29, down from $26.3 million, or 31 cents per share, a year earlier.

Sheetz is moving forward as planned to implement the changes outlined in the new overtime rule.        

The Wendy’s Company has extended its commitment to reducing energy.   The restaurant chain has joined the Environmental Protection Agency's Energy Star Program and will work to improve energy efficiency through a strategic, corporate energy management program that will enhance the company's energy strategy.  

This holiday season shoppers will see many new high-tech and digital advancements in stores, from self-service kiosks and free Wi-Fi to mobile pay and retail apps. In the coming years, shoppers may even find robots helping them face-to-face.  

After Neiman Marcus announced it would open its first New York store at Hudson Yards — the biggest development in that town in recent history — retail leases are being signed at a torrid pace.   According to developer Related Urban, The Shops & Restaurants at Hudson Yards are 60% leased more than two years before their scheduled opening in fall 2018.  

Ashley Furniture is jumping into virtual and augmented reality to help shoppers visualize how furnishings can fit into a space more accurately.    The retailer is launching a company-wide virtual reality (VR) and augmented reality (AR) initiative that is designed to enable consumers to create interior layouts and experience living spaces in 3D. Ashley Furniture will create and scale its product catalogue for AR and VR, and publish new 3D product experiences, with a platform from augmented reality and virtual reality provider Marxent.

It’s a rough time for many teen apparel retailers and the holiday season may not bring much relief.   American Eagle Outfitters Inc. on Wednesday issued a weaker than expected forecast for the fourth quarter as its CEO cited a “tough” retail environment. Its warnings issues similar statements from the likes of Abercrombie & Fitch and Gap.    

Boohoo, a fast-fashion online retailer based in Manchester, England, is reportedly bidding for bankrupt U.S. retailer Nasty Gal.    Boohoo has filed a petition to incorporate Nasty Gal as part of its business in the United Kingdom, registering the business Nasty Gal Ltd with Companies House, fashionunited.com reported.  

JGA has named Joanne Healy to the newly created position of executive VP, chief strategy officer.   Her responsibilities will span across strategy, creative and business development, bringing her unique perspective to the rapidly evolving world of retail, service and brand experience.