News

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.

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.

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:

Michael Reed has been promoted to VP real estate for Stater Bros. Markets.

Reed joined Stater Bros. in 2014 as senior director of real estate, a position he held until his recent promotion. He will report to president and CEO Pete Van Helden.

Prior to Stater Bros., Reed served as real estate store development manager for Starbucks where he was responsible for growing the company’s Mid-West and Western Mountain regions.

Stater Bros. operates 168 supermarkets in California.

Michael Reed has been promoted to VP real estate for Stater Bros. Markets.  
 
Reed joined Stater Bros. in 2014 as senior director of real estate, a position he held until his recent promotion. He will report to president and CEO Pete Van Helden.

Prior to Stater Bros., Reed served as real estate store development manager for Starbucks where he was responsible for growing the company’s Mid-West and Western Mountain regions.  

Stater Bros. operates 168 supermarkets in California.

Houston -- Baker Katz announced that construction on an 8,000-sq.-ft. building that is 100% leased to AT&T, Frost Bank and Chipotle is underway.

Baker Katz acquired this property last year with plans to revamp the property into a multi-tenant destination. The property is located in Houston, Texas at the intersection of I-10 East and Haden Road in business district and ship channel area.

Amazon will be promoting its growing portfolio of original content available to Prime members on 20,000 movies screens after reaching a multi-year agreement with National CineMedia.

Buoyed by strong holiday sales, Express reported impressive results for its fourth quarter as the company’s turnaround remained on track. The chain issued an upbeat earnings forecast for the full year.

The specialty retailer reported better-than-expected net income of $56.1 million, or 67 cents per share compared to $41.8 million, or 49 cents per share, in the year-ago period.