News

An upbeat Michaels beats Street
The Michaels Companies reported better-than-expected earnings for the fourth quarter and also issued an upbeat forecast for 2017. Michaels reported net income of $193.5 million for the quarter ended January 28, up 6.3% from $183.7 million in the year-ago period. Net sales increased 4.1% to $1.8 billion, from $1.7 billion in the year-ago period. The company attributed the increase largely to its February 2016 acquisition of Lamrite West and sales from 19 additional stores.
Walgreens looks to speed up Rite Aid merger
Walgreens Boots Alliance is considering a move that would force the Federal Trade Commission to vote on its planned merger with Rite Aid within 30 days. Walgreens is considering declaring that it has “certified compliance” in its application, which would mean that the drugstore chain believes it has given regulators substantially all the information they need to make a decision, The New York Post reported.

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.
Sunrise Brands re-launches celeb clothing line

Thanks to a new partnership, shoppers once again can purchase Eva Longoria-designed apparel.
Specialty retailer deploys new platform to improve merchandising, store ops

The DNA of Altar’d State is based on delivering a distinctive store experience and merchandise offerings, while always “standing out for good” in the world.
Nordstrom expanding important employee benefit

New parents working at Nordstrom are about to get a break. Starting May 1, the department store retailer will offer up to 12 weeks of fully paid leave to birth mothers, and up to six weeks of fully paid leave to other new parents, the Seattle Times reported. Nordstrom’s current maternity leave policy is six weeks of disability paid at 60% for birth mothers.
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.”
Dunkin’ Donuts expanding in the South

Dunkin’ Donuts is growing its footprint in Alabama and Mississippi. The chain signed development agreements with two franchise groups to develop 17 locations throughout the two states during the next several years. Existing franchisee Birmingham Donut Holdings plans to develop nine new Dunkin' Donuts restaurants in Birmingham, Alabama. The group currently operates 34 restaurants throughout Alabama and Florida.