News

Land’s End flounders after Sears split
Separating itself from Sears Holdings a year ago has not helped Land’s End financial footing judging from the company’s fourth quarter profit and same store sales decline.

Land’s End sales declined 4.9% to $504.6 million and net income declined 28% to $33.1 million in the fourth quarter ended Jan. 30. Merchandise sales and services were negatively impacted by a $3.4 million product recall in the quarter that negatively impacted net income by $2.6 million.
Home Depot prepares for spring

It’s the busiest time of year for the Home Depot and this cool time lapse video from store 116 in Woodstock, Ga., shows the considerable effort that goes into resetting the retailer’s indoor seasonal department. For more on the retailer's spring time efforts check out the following, http://builtfromscratch.homedepot.com/merchandising-spring

PayPal to pay $7.7 million in U.S. Treasury sanctions case

New York -- PayPal Inc. has agreed to pay $7.7 million in a deal to settle charges by the U.S. Treasury Department that the electronic payments giant violated numerous sanctions programs against countries that include Iran, Cuba and Sudan, Reuters reported.

The Office of Foreign Assets Control, an agency of the Treasury Department, on Wednesday announced the civil settlement.
Belk gives $21.5M to communities

Belk’s efforts on community involvement received a boost in 2015, as the company reported that it donated more than $21.5 million to local communities last year.

Of the total amount, Belk corporate dollars funded $6.1 million to more than 250 nonprofit organizations, with a focus on education, breast cancer research and awareness, and community strengthening, the company said. The remainder of the funding includes associate, vendor and customer dollars raised in Belk-led charitable events, including the Belk Charity Sale.
Christopher & Banks sails through challenging Q4

Christopher & Banks Corp.
Weis Markets expands in-store pickup service

Sunbury, Pa. — Weis Markets is set to expand online shopping with in-store pick-up to its 26th location, making the service available at its West Lawn, Pennsylvania, store.
Weis Markets opens store pickup in 26th store
Fred’s to acquire specialty and retail pharmacy company for $66 million

Memphis, Tenn. -- Fred's announced that it has signed an agreement to acquire EntrustRx, a specialty pharmacy operation that has a strong regional presence in the Southeast, as well as the single Reeves-Sain retail pharmacy in Murfreesboro, Tennessee. EntrustRx, which is licensed in all 50 states, dispenses specialty pharmaceuticals to treat complex conditions and diseases that typically require ongoing support for extensive periods of time.
Fred's Super Dollar to acquire Tenn. drugstore chain for $66M

Fred's Super Dollar has signed an agreement to acquire Reeves-Sain Drug Store, a private specialty and retail pharmacy company based in the Nashville, Tenn., area.
Pacific Sunwear reports Q4 loss

Anaheim, Calif. -- Pacific Sunwear of California Inc. on Wednesday reported a loss of $26 million in its fiscal fourth quarter.

The teen apparel retailer reported revenue of $231.6 million in the period, which topped Street forecasts. Same-store sales increased 6%.