News

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.

Specialty online fashion retailer Rue La La is telling all the young dudes (or dudettes) about the latest in fashion with a new content site called Rue Now.

Building on the fact that the average Rue La La member visits the site more than twice a week for purposes of learning and discovery as well as making purchases, the retailer launched the Rue Now platform will complement its daily shopping boutiques by giving customers access to timely fashion and lifestyle news.

Starbucks Corp. has lost one of its veteran executives.

The coffee giant revealed in a regulatory filing that former COO Troy Alstead will not return to the company following a year-long unpaid leave. Alstead, whose resignation was effective February 29, 2016, had long been seen as the company’s number two executive and an eventual replacement to current CEO Howard Schultz.

Abercrombie & Fitch's efforts to attract more shoppers are paying off, as the company reported an increase in same store sales for the fourth quarter.

The teen retailer announced adjusted earnings of $1.08 a share for the period ended Jan. 30. Net sales were $1.11 billion. Same store sales jumped 1%, the first gain in overall same store sales since the third quarter ended October 29, 2011, according to Bloomberg.

Teen and pre-teen retailer Five Below has big plans to bring its brand of extreme value retail to the Sunshine State.

The company will hold a grand opening of its first store in Miami on March 2, giving it a total of 15 locations in the state, and said over time is expects to open 100 more stores. This store is located at Causeway Plaza, 12195 Biscayne Blvd, North Miami.

American Eagle Outfitters didn’t exactly soar in the fourth quarter, but its low single-digit same-store sales increase was better than most and benefitted from recent store closures.

Total company sales increased 3% to $1.11 billion and same store sales grew 4% after a flat performance in the fourth quarter the prior year. Earnings per share increased 17% to 42 cents from the 36 cents earned from continuing operations the prior year. The company expects its first quarter same store sales to increase in the mid-single digits.

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.

The Sports Authority on Wednesday filed for Chapter 11 bankruptcy protection and said it plans to close or sell as many as 140 of its 463 stores nationwide. The beleaguered company has struggled in recent years under increased competition not only from online players, but also from the likes of Dick’s Sporting Goods and specialty retailers such as Lululemon that have capitalized on the “athleisure” boom in fitness apparel.