News

Apparel retailer expanding outlet store concept after terrible Q4
Express Inc.’s profit plunged 59% in its fourth quarter amid increased discounting and weak mall traffic. In reporting its fourth quarter results, the apparel retailer said it plans to improve its merchandise mix through a more curated selection. Express’ profit decreased 59% to $22.8 million in the quarter ended Jan. 28, in line with expectations, as earnings per share fell to $0.29, from $0.67 in the year-ago period. .
Denmark’s largest retailer gets ‘smarter’ about energy
Coop Denmark has deployed a new solution to help it reduce energy consumption by 20% by 2020. The retailer, which has some 1,200 stores, will deploy Honeywell’s software-based energy management solution, Enacto, and up to 20,000 wireless Enacto submeters throughout its stores, providing the retailer with a unified view of energy use across all of its locations.

Rough quarter for Tailored Brands; restructuring deal with Macy’s

The parent of Men's Wearhouse, Jos. A. Bank and other menswear brand reported lower sales in its fourth quarter amid soft traffic across its brands. Tailored Brands reported sales of $793.3 million in the quarter ended Jan. 28, down from $826 million a year ago. The company closed 232 stores in 2016. The company lost 62 cents a share in the quarter, more than expected, compared with a loss of $21.86 a share in the same period a year ago.
Women’s apparel brand improves merchandise planning

In an omnichannel world, success is based on presenting the right products in front of shoppers when — and where — they are ready to make a purchase. Soft Surroundings quickly learned that the more it expanded however, the harder this task became. Choosing the right allocation and merchandise planning solution was only the first step in the brand’s journey. By partnering with Columbus Consulting International, the chain was able to streamline the design, deployment and implementation of its new solutions.
Recap: Retailers talk e-commerce, and more, at RILA conference

Retailers are finding unlikely camaraderie in their quest for greater market share: their competitors. With a handful of e-commerce giants continuing their stronghold on consumer pocketbooks, this year’s RILA (Retail Industry Leaders Association) Retail Supply Chain Conference allowed ‘big box’ and traditional retail leaders to come together in pursuit of new ways to stay ahead.
Report: Apple fixing security holes in devices revealed by CIA

Following a report that said the CIA is capable of breaking into Apple devices, the electronics company is working diligently to fix potential vulnerabilities. On Tuesday, March 7, the WikiLeaks website said the CIA has an arsenal of malware ready to undermine security and encryption measures on Apple’s iPhones, Mac OS operating system, AirPort routers, according to ReCode.
New grocery retailer expanding

A new retailer aimed at Hispanic customers is expanding its footprint in South Florida. Fresco y Más on March 8 opened five stores in Miami, and Hialeah, Florida, bringing its total store count to 11 locations. The banner is the latest concept from Southeastern Grocers, parent company of Bi-Lo, Harveys and Winn-Dixie.
Brixmor buys grocery-anchored center in Ann Arbor

Brixmor Property Group has purchased Arborland Center, a 404,000-sq.-ft. center in Ann Arbor, Michigan, for $102 million. The center is anchored by Kroger and Nordstrom Rack and is situated between the University of Michigan and Eastern Michigan University.
Veteran retailer takes control at Land’s End

Lands’ End has a new person at the top. Jerome Griffith has officially taken the reins as CEO of the company, and also joined the board of directors. He succeeds Joseph Boitano and James Gooch, who have served as co-interim CEOs since September 2016, when CEO Federica Marchionni was forced out after less than two years amid an ongoing sales slump.
Hardware chain adds retail management platform

Hefner Ace Hardware knows the only way to expand its breadth is to have data integrity and inventory accuracy. This was not an easy task for the family-owned, independent operator. When the retailer become an official Ace Hardware dealer in 2015, the retailer tripled its inventory, “and now we maintain 30,000 SKUs,” said Jason Hefner, owner, Hefner Ace Hardware. “Because of that jump in our inventory levels, we needed a system that was better equipped for inventory management and analysis.”