News

The parent of Men's Wearhouse, Jos. A. Bank and other menswear brand reported lower sales in its fourth quarter amid soft traffic across its brands.    Tailored Brands reported sales of $793.3 million in the quarter ended Jan. 28, down from $826 million a year ago. The company closed 232 stores in 2016.    The company lost 62 cents a share in the quarter, more than expected, compared with a loss of $21.86 a share in the same period a year ago.   

Following a report that said the CIA is capable of breaking into Apple devices, the electronics company is working diligently to fix potential vulnerabilities.   On Tuesday, March 7, the WikiLeaks website said the CIA has an arsenal of malware ready to undermine security and encryption measures on Apple’s iPhones, Mac OS operating system, AirPort routers, according to ReCode.   

The Kroger Co. is preparing to break ground on its newest distribution center.   The grocer is investing $60 million in the 674,000-sq.-ft. depot, which will primarily be used to replenish Kroger’s direct-to-store distribution centers across the eastern half of the country, according to the Northern Kentucky Tribune.  

Coop Denmark has deployed a new solution to help it reduce energy consumption by 20% by 2020.   The retailer, which has some 1,200 stores, will deploy Honeywell’s software-based energy management solution, Enacto, and up to 20,000 wireless Enacto submeters throughout its stores, providing the retailer with a unified view of energy use across all of its locations.  

Retailers are finding unlikely camaraderie in their quest for greater market share: their competitors. With a handful of e-commerce giants continuing their stronghold on consumer pocketbooks, this year’s RILA (Retail Industry Leaders Association) Retail Supply Chain Conference allowed ‘big box’ and traditional retail leaders to come together in pursuit of new ways to stay ahead.   

A new innovation lab is primed to benefit one of the top players in China’s e-commerce marketplace.   Zebra Technologies, Digital China and Chinese e-commerce giant JD.com, which Walmart owns a 12% stake in, have joined forces to develop a state-of-the art facility entitled the "IoT + E-commerce Logistics Lab.”   

Express Inc.’s profit plunged 59% in its fourth quarter amid increased discounting and weak mall traffic.    In reporting its fourth quarter results, the apparel retailer said it plans to improve its merchandise mix through a more curated selection.   Express’ profit decreased 59% to $22.8 million in the quarter ended Jan. 28, in line with expectations, as earnings per share fell to $0.29, from $0.67 in the year-ago period.   .

In an omnichannel world, success is based on presenting the right products in front of shoppers when — and where — they are ready to make a purchase.   Soft Surroundings quickly learned that the more it expanded however, the harder this task became. Choosing the right allocation and merchandise planning solution was only the first step in the brand’s journey. By partnering with Columbus Consulting International, the chain was able to streamline the design, deployment and implementation of its new solutions.

A new retailer aimed at Hispanic customers is expanding its footprint in South Florida.    Fresco y Más on March 8 opened five stores in Miami, and Hialeah, Florida, bringing its total store count to 11 locations. The banner is the latest concept from Southeastern Grocers, parent company of Bi-Lo, Harveys and Winn-Dixie.  

Urban Outfitters Inc. ended its fiscal year more or less on target.    The retailer on Tuesday reported net income of $64.3 million, or 55 cents a share, just one cent shy of analysts’ estimates, and down from $72.9 million, or 61 cents a share, in the year ago period.   Total net sales rose 2% to $1.03 billion, matching Street forecasts.