News

With all of the pre-holiday buzz and widely optimistic sales projections, anything other than a blockbuster 2012 holiday shopping season was bound to be a letdown. Few expected the numbers that came out just before Christmas: Both MasterCard and the International Council of Shopping Centers (ICSC) reported that sales for the holiday season at that point were up just 0.7%. This was far below the robust predictions that many analysts and observers made before the shopping season was underway (most often between 3%-6%).

New York -- Big M Inc., which operates Mandee and Annie Sez stores, has filed for Chapter 11 bankruptcy protection. The New Jersey-based retailer cited the impact of Superstorm Sandy, which resulted in closures that affected its stores, corporate office and distribution center for more than a week. The company cited liabilities of between $50 million and $100 million, along with assets of the same amount.

Minneapolis -- Target Corp. said Tuesday it plans to price-match top online retailers year-round, including Amazon.com, Walmart.com, BestBuy.com and Toysrus.com (including Babiesrus.com).

Target stores will also price-match items found on Target.com, the company said.

Redwood Shores, Calif. -- American Apparel, which launched a new Oracle e-commerce platform in the fall, has continued to deliver an increase in e-commerce sales, with a more than 38% increase over the same period last year. December 2012 sales increased more than 59% over December 2011, with December coming in as the highest sales month in the history of the company’s online business.

Philadelphia -- Destination Maternity Corp. reported Tuesday that revenue for the first quarter edged down to $135.3 million, from $136.4 million in the year-ago period. The results fell within internal expectations of $132.5 million to $136.5 million.

Same-store sales rose 1.9%.

The maternity apparel retailer said the decline in total revenue was due in large part to sales declines related to closing underperforming stores.

Dallas -- Tuesday Morning Corp. reported Tuesday that sales for the quarter ended Dec. 31 rose 4.5% to $285.3 million, compared with $273.1 million in the year-ago quarter.

Same-store sales increased 5.6%.

Tuesday Morning also reported that beginning with this second quarter sales report it will no longer provide net income estimates with sales figures, but will instead consolidate that information in its earnings reports.

By Ann Natunewicz, national manager, Retail Research, USA Retail Services Group

The outlet shopping experience has morphed from warehouse settings offering damaged and closeout merchandise to today’s centers that are designed to maximize customer flow and sell merchandise from the most exclusive international designers.

Norwalk, Conn. -- WhenToManage announced that its suite of retail operations solutions, including point-of-sale intelligence, labor scheduling and inventory management tools, is now being deployed by Rocky Mountain Chocolate Factory, an international franchiser, confectionery manufacturer and retail operator.

Shoppers looking for apparel inspired by the summer sophistication of the Hamptons will want to head to the Banana Republic this spring.

The Banana Republic division of Gap has teamed up with designer Michelle Smith to introduce a 60 piece collection of her signature Milly brand that includes women’s apparel and Smith’s first foray into the menswear category. Beginning in May, the products will be available in an unidentified number of Banana Republic’s 600 stores and online. The products will be featured in June promotional materials.

WALNUT CREEK, Calif. — Central Garden & Pet Company has named John R. Ranelli as its new president and CEO, effective February 11.

Central Garden & Pet is a leading supplier of branded products for the lawn and garden and pet supplies markets. Ranelli has been a member of its board and a member of the board’s audit committee since 2010. He will remain on Central’s board and current chairman and CEO Bill Brown will remain chairman.