News

FORT WORTH, Texas -- Pier 1 reported that same-store sales rose 7.2% in the first quarter, helped by strong holiday assortments. First-quarter revenue was up 8% to $361 million, beating Wall Street's estimate of $360.7 million.

President and CEO Alex Smith said Thursday that the shoppers have been buying the retailer's Easter, spring, Mother's Day and Memorial Day products.

Same-store sales at Costco’s U.S. stores increased 5% during the four week period ended May 27.

Dallas -- Patagonia said Thursday it has renewed its partnership with Epsilon, a subsidiary of Alliance Data Systems Corp., so that Epsilon will continue to provide comprehensive database marketing services designed to give Patagonia a better understanding of customers and improve cross-channel marketing campaign results.

New York -- Target and TJX Cos. both reported better-than-expected results in May, with a 4.4% and an 8% increase in same-store sales, respectively. Wall Street expected Target same-store sales to be up 3.5% in May and forecasted TJX sales to rise 5.3%.

BENTONVILLE, Ark. — Sam's Club is marking Men's Health Month in June by offering free men's health screenings at its pharmacies.

Hingham, Mass. -- After announcing that talks between private equity firm Sycamore Partners and Talbots had ended, then issuing an update that negotiations had resumed but without exclusivity, the pair said Thursday that a deal has been struck.

Sycamore Partners is acquiring the apparel retailer for approximately $193.3 million, according to Thursday’s announcement.

Including debt, the deal is valued at close to $369 million.

Toys“R”Us chairman and CEO Jerry Storch and Nordstrom Direct president Jamie Nordstrom are among the featured speakers at the Shop.org annual summit.

The annual event organized by Shop.org, a division of the National Retail Federation, will be held September 10 to 12 and the Colorado Convention Center and is billed as the premier gathering for retail e-commerce, digital and multichannel retailers.

St. Louis -- Brown Shoe Co. said Wednesday that CFO Mark Hood has resigned the company, effective June 11. Russ Hammer has been named the successor.

“I’m confident [Hammer] will be able to make an immediate contribution across the company and to the work we’ve been completing in our portfolio realignment efforts,” said Diane Sullivan, president and CEO.