News

Samsung 837, New York City
Samsung Electronics America has opened what it describes as a “living lab” and “digital playground” in the Meatpacking District of Manhattan.
Abercrombie turnaround continues with 30% jump in Q4 profit
Abercrombie & Fitch's efforts to attract more shoppers with a better store experience and updated merchandise mix are paying off as the retailer reported an unexpected increase in same-store sales and a 30% increase in profit for the fourth quarter.

Abercrombie said overall same-store sales rose 1% in the quarter ended Jan. 30, the first gain in the metric since the third quarter 2012. Analysts on average were expecting a decline of 0.10%. The gain in same-store sales was driven by a 4% increase in the Hollister division.

Regional grocer takes direct approach to managing shipments

Schenectady, New York-based The Golub Corp. may be a smaller grocery retailer, but it’s taking a big approach to vendor collaboration.

The operator of more than 130 Price Chopper and Market 32 grocery stores in the Northeast has selected Park City Group’s Scan-based Trading solution to support a new go-to-market strategy for direct store delivery (DSD) vendors.
Shoppers stay away from Ann Taylor, Justice over holidays

Ascena says its second quarter revenue got a big boost from the acquisition of Ann Inc., but same-store sales declined sharply during the period.

For the second quarter ended Jan. 23, the companyreported a net loss of 12 cents per diluted share compared to net income of 5 cents per diluted share in the same period of fiscal 2015.Net sales were $1.842 billion compared to $1.289 billion last year, with the increase driven by the acquisition of Ann Inc. Second quarter total comparable sales were down 6%.
Meijer to spend $400 million on new stores, remodels

Meijer will spend $400 million on store expansion and remodeling in 2016 as the chain looks to expand its footprint.

The investment includes the construction of nine new Meijer supercenters and 32 remodel projects. While Michigan, Indiana, Illinois, Kentucky and Wisconsin will each welcome new Meijer supercenters later this year, dozens of other Meijer stores have begun or will soon begin remodel projects to further enhance the customer shopping experience.
Report: Sports Authority may sell stores to Dick's

Sports Authority Inc., which is reportedly preparing to file for bankruptcy, has discussed selling stores and intellectual property to rival chain Dick’s Sporting Goods Inc. and other parties, according to Bloomberg.

Sports Authority, once the largest sporting-goods retailer in the U.S., is heading toward default after years of losing ground to competitors. The Englewood, Colorado-based chain missed a Jan. 15 interest payment on some of its debt and failed to make the payment during a 30-day grace period.
Family Dollar helps Dollar Tree win customers in Q4

Dollar Tree says the integration of Family Dollar stores helped grow sales and profit in the fourth quarter.

For its fourth quarter ended Jan. 30, net sales at Dollar Tree were $5.37 billion, a 116.7% increase from the same period a year ago. The boost in revenue was the result of $2.68 billion in sales from the Family Dollar d. Same store sales increased 1.7%. Profit was $229 million, up by $22.4 million from a year ago.
Albertsons sets goal for cage-free eggs by 2025

Albertsons is joining other major retailers in working with its suppliers toward a goal of sourcing only cage-free eggs for its store operations.

The company, among the first and largest in the conventional retail grocery sector to make such a commitment, is making the move not only as part of its ongoing commitment to animal welfare but also in response to customer buying habits.
Another record-breaking fiscal year for Publix

Publix on Tuesday posted sales for the fourth quarter of 2015 of $8.2 billion, a 4.5% increase. Comparable-store sales for the fourth quarter of 2015 increased 3.2%.

“I’m pleased to report another year with excellent results,” said CEO Ed Crenshaw. “Our associates deserve the credit for continuing to make us a leader in customer service.”

Publix’ sales for the fiscal year ended Dec. 26, 2015, were $32.4 billion, a 5.9% increase from last year’s $30.6 billion. Comparable-store sales for 2015 increased 4.2%.
Ross Stores beats Q4 estimates; cautious about 2016

Ross Stores reported strong results for its fourth quarter. But similar to many other retailers, the off-price retailer sounded a cautious note with regards to sales and earnings for its new fiscal year.

Ross on Tuesday reported earnings per share for the fourth quarter ended January 30, 2016 of $.66, up 10% from the prior year, on net earnings that rose 6% to a better-than-expected $264 million.
Disney Springs gets big retail infusion — one with a Michael Jordan connection

The expanded Disney Springs (formerly called Downtown Disney) center in Lake Buena Vista, Fla., unveiled 30 new retail tenants that will be moving in when the project is completed.
Phillips Edison Grocery Center REIT makes strategic buys

Phillips Edison Grocery Center REIT II announced the strategic acquisitions of four grocery-anchored shopping centers in Colorado, Florida and California.