News

Genesco tops $3 billion mark in 2015
Specialty retailer Genesco surpassed a significant sales milestone last year, but the operator of nearly 2,700 stores faced some self-imposed profitability challenges as it posit
Value and convenience driving Dollar General’s record growth
Dollar General reported record sales and profits last year and plans to extend the streak in 2016 with 900 stores and an even greater number in subsequent years, according to the company’s new financial targets.

In 2015, Dollar General opened 730 new stores and remodeled or relocated 881 stores which combined with a 2.8% same store sales increase allowed it to grow total sales 7.7% to $20.4 billion. The company ended its fiscal year on Jan. 29, with 12,483 stores.

Toys"R"Us makes progress on turnaround

The CEO of Toys"R"Us says increases in same store sales and profit show that the company is on the right path toward strategic growth.

For the fourth quarter ended Jan. 30, the company earned $276 million, up from $265 million a year earlier. Revenue fell 2.6% to $4.9 billion. Same store sales increased 2.3%.
Tailored Brands alters growth plans with 250 store closings

The company formerly known as Men’s Wearhouse plans to significantly reduce its physical presence this year by closing 250 stores, including more than 20% of the Jos. A. Bank stores acquired in 2014.

The major reduction is selling space by the company which changed its name to Tailored Brands earlier this year was announced in conjunction with the release of weak fourth quarter results that were in line with previously released results, which showed Jos. A. Bank stores had 32% decline in same-store sales.
Whole Foods and Instacart take relationship to new level

Whole Foods Market and online delivery service Instacart have big plans to make it easier for consumers nationwide to receive home deliveries from the nation’s leading retailer of natural and organic products.
Strong e-commerce sales not enough to save Stein Mart in Q4

Fourth quarter profits at Stein Mart were cut in half as the company relied on heavy promotional activity to clear inventory and eke out a 1% same-store sales increase.
Another retailer with growing online sales and declining profits

Women’s apparel specialist Christopher & Banks saw its online sales surge in the fourth quarter, but it wasn’t enough to keep the company from posting an even bigger operating loss than it did the prior year.
Amazon takes to the air with fleet of Boeing jets

It’s not drones, but Amazon.com has found a new way to make quicker deliveries via air. According to the Wall Street Journal, Amazon is leasing 20 Boeing 767 freighters as part of a deal with air cargo provider Air Transport Services. The agreement is intended to supplement Amazon’s existing delivery network. Amazon also purchased thousands of its own branded tractor-trailer trucks in December 2015. [Wall Street Journal]
ModCloth delves deeper into brick-and-mortar

ModCloth is going on tour this summer.

The online apparel retailer known for its indie and vintage-inspired styles is launching the “ModCloth IRL (in real life) Tour,” a series of five pop-up shops.

The IRL shops are modeled after ModCloth’s first-ever physical outpost, a pop-up in San Francisco. The store opened last July and is due to close March 26.
CVS Health targets youth in new anti-smoking efforts

CVS Health on Thursday announced the launch of "Be The First," a five-year $50 million initiative to help deliver the nation's first tobacco-free generation.
Toys 'R' Us makes progress on turnaround

The CEO of Toys “R” Us sounded an upbeat note on Thursday amid results that showed the chain cut its full-year net loss by more than half in fiscal 2015, and improved its adjusted earnings by 25%.
Bob’s Discount Furniture names CEO

After more than doubling in size the past 10 years, the 69 store Bob’s Discount Furniture chain has executed a succession strategy.

Manchester, Conn.-based Bob’s Discount Furniture elevated Michael Skirvin from his role as president and COO to serve as president and CEO. He assumes the top job from Ted English who will remain with the company as executive chairman.