News

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.

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%.

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.

Chain Store Age recently spoke with Daphne Carmeli, CEO of Deliv, to get her perspective on what’s going on in the rapidly growing online delivery space.

What is driving growing consumer interest in online delivery?
We’ve got a bunch of players in the industry who are aggregating inventory in a simple, flexible and cost-effective way for last-mile fulfillment. Companies like Amazon and Google are resetting customer expectations of what’s possible.

Target announced Wednesday its board of directors elected Monica Lozano as a new director, effective immediately. Lozano is the former CEO of ImpreMedia, one of the largest media companies serving Hispanic communities in the U.S.

Party City on Thursday posted an increase in same-store sales and profit for the fourth quarter and said it is on track to expand its footprint this year.

But it also cautioned that sales may slow.

Party City reported a profit of $86.5 million for the fourth quarter ended Dec. 31, up from $79 million a year earlier. On a per-share basis, earnings declined to 72 cents from 83 cents.

Total revenue slipped 2.8% to $781.5 million. Same-store sales increased 2.8%, fueled by a strong Halloween season.

Everyone knows detecting fraudulent e-commerce activity is crucial, but how do you know when something is up?

Fraud detection provider Simility aggregated patterns across 500,000 browser-based devices throughout January 2016. Analysts looked for patterns in the 10,000 (or 2%) of those devices that were in the hands of fraudsters and contrasted those with the other 98% of devices in the hands of good or “organic” users.

Simility discovered seven anomalies that were leading indicators of fraud:

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.