News

Things are looking up at Chico’s FAS.   The women’s apparel retailer on Tuesday reported net income of $23.6 million for the third quarter, after reporting a net loss of $11.6 million in the same period a year earlier.   Chico’s had a profit of 18 cents per share. Earnings, adjusted for one-time gains and costs, came to 20 cents per share. The results topped Wall Street expectations.  

After four consecutive quarters of year-over-year earnings decline, DSW Inc. got back on track in its third quarter.   The footwear and accessories retailer had adjusted net income of $42 million, or 51 cents per diluted share, a 16% year-over-year improvement and 3 cents above estimates.  

The South Plains Mall in Lubbock, a dominant retail center in the Texas Panhandle for 40 years, this week unveils a series of updates for customers.   The Macerich-owned mall has redesigned all three of its entrances, added new flooring and lighting throughout the building, and introduced amenities including center-wide Wi-Fi, charging stations, soft seating, and new restrooms.  

Dollar Tree on Tuesday reported a third-quarter profit that more than doubled compared to last year amid lower merchandise and freight costs. The retailer also lifted its guidance for the fourth quarter.    Dollar Tree’s net income for the quarter, ended Oct. 29, rose to a better-than-expected $171.6 million, or 72 cents a share, up from $81.9 million, or 35 cents a share, in the year-ago period. The prior year included some charges and markdowns related to the Family Dollar business, which Dollar Tree acquired in 2015.

Restoration Hardware Holdings continues to expand, opening a 60,000-sq.-ft. store in Seattle at University Village.

Cost cuts help improve Barnes & Noble’s profitability in the third quarter even as its sales continued to decline.    “While we are pleased to have improved our performance due to expense reductions, we did experience sluggish sales, which we believe are directly related to the election cycle,” said Len Riggio, chairman and CEO of Barnes & Noble. "With the election behind us, we hope and expect sales will improve over the holidays."  

Paid Sick Leave laws have spread like wildfire across several states and cities, each with their own unique requirements.     Employers in California may find themselves navigating a web of requirements. The state of California’s paid sick leave statute went into effect in July 2015, and there are also local ordinances in the cities of San Francisco, Oakland, Berkeley, Emeryville, Los Angeles, Santa Monica, and San Diego.    

The president of Office Depot’s North American operations is stepping down.   Marc Crosby is leaving the company “to pursue other opportunities,” according to the Sun Sentinel, which cited a filing with the Securities and Exchange Commission. No date was given for his departure.  

There is no doubt that employee-driven mobility programs are moving the dial on engagement, productivity and other business opportunities. However, too many companies are not asking the right questions when considering deployments.  

Canadian outerwear brand Canada Goose, best known for its signature goose-down jacket with fur-trimmed hood, has opened its first-ever U.S. store.   The 4,100-sq.-ft. space is designed to reflect the company’s roots and Arctic heritage. The works of Canadian artisans are showcased throughout the store, which also features gallery-styled displays of vintage pieces from the brand’s archives and a 3,840-pound marble cash-wrap, carved from a single piece of rock and sourced from a quarry in British Columbia.