News

Christopher & Banks Q4 disappoints; to roll out merchandising changes
Changes are coming to Christopher & Banks Corp. On the heels of a 7.8% decrease in its fourth quarter sales, the women’s apparel retailer is launching a new merchandising strategy that include a bigger focus on fashion over core items. Christopher & Banks also will review styles on a weekly basis to identify emerging trends and mark down slower-moving products, said interim president and CEO Joel Waller on the company’s quarterly call with analysts.
Specialty outdoor retailer’s sales — and donations — surge
The nation’s largest consumer co-op reported a solid year amid ongoing sustainability achievements. REI reported annual revenues of $2.56 billion in 2016, up 5.5% from $2.42 billion in 2015. Same-store sales, which include direct to consumer sales, rose nearly 4% and digital sales grew by nearly 18%.

Leadership changes at home furnishings retailer

New leaders are set to take the reins at Pottery Barn and its sister brands. The company announced that Sandra Stangl, president of Pottery Barn Brands, which includes Pottery Barn, Pottery Barn Kids and PBTeen, is resigning from the company on March 31, 2017, after 23 years of service.
Three ways Amazon Go’s automation will impact the retail industry

Could “paper or plastic?” become a question of the past? In early December, Amazon opened its checkout-free store concept, Amazon Go, in Seattle. Initially open only to employees, the store is expected to open to the public early this year. With the e-commerce giant’s “just walk out” technology, customers are able to swipe their app when they enter, pick up items they want off the shelves, and exit without cash registers or lines.
Gifting retailer unloads product line, but gains new business partner

1-800-Flowers.com’s latest business move puts the company in a strategic position to more cost-effectively expand its assortment. The gifting retailer said Wednesday that Ferrero International S.A will acquire the company’s Fannie May Confections Brands, including its subsidiaries Fannie May Confections and Harry London Candies.
Bloomberg: Walgreens could sell additional assets to Fred’s

There is another development in Walgreens’ quest to acquire Rite Aid.
Office supply retailer exits Australia, New Zealand

In a move that will help it focus on its North American stores, Staples is selling its Australia- and New Zealand-based operations. Staples announced Tuesday, March 13, that private equity firm Platinum Equity will acquire these stores for an undisclosed sum. The transaction is expected to close in the second calendar quarter of 2017.
Bon-Ton misses Q4 estimates

Weak traffic and unseasonably warm weather impacted Bon-Ton’s earnings for the fourth quarter. For the period ending January 28, 2017, the department store chain reported net income of $44.7 million, or $2.09 per diluted share. These earnings fell short of analyst estimates by 37 cents. The chain reported revenue of $900 million for the period, and comparable store sales decreased 4.7%.
Walmart issues $157 million in bonuses to employees

The bonuses, along with annual pay raises, were included in employees’ March 9 paycheck. Over the past two years, Walmart has invested billions of dollars in training, education and higher wages. These programs offer associates skills, knowledge and tools to help them grow with the company and provide great customer service during a time of rapid change in shopping habits.
Neiman Marcus exploring options — including sale

Neiman Marcus posted another quarter of declines for its second quarter. For the period ended January 28, 2017, the chain reported total revenues of $1.40 billion, a decrease of 6.1% compared to $1.49 billion for the second quarter of fiscal year 2016. Comparable revenues decreased 6.8%.