News

Target has been hit with a slew of negative reports recently, and now the retailer is trying to do something positive for its image by making its return policy more shopper-friendly.

Target Corp. announced an enhanced return policy Wednesday covering all of the retailer’s 32 owned and exclusive brands, which extends the return window to one year from the date of purchase. The retailer also rolled out a one-year return guarantee for guests using Target’s baby, college or wedding gift registry.

Williams-Sonoma set a milestone in 2014 that helped the retailer post an impressive jump in same store sales and profit.

The specialty retailer of home furnishing products reported that for the first time ever, e-commerce sales made up more than 50% of all revenues in 2014.

Williams-Sonoma said its fourth quarter net revenues grew 5.2% to $1.542 billion versus $1.466 billion in the prior year quarter. Same store sales grew of 5.1%. Earnings per share grew 13.8% to $1.57 from $1.38 in the prior year quarter.

Williams-Sonoma set a milestone in 2014 that helped the retailer post an impressive jump in same store sales and profit.

The specialty retailer of home furnishing products reported that for the first time ever, e-commerce sales made up more than 50% of all revenues in 2014.

Williams-Sonoma said its fourth quarter net revenues grew 5.2% to $1.542 billion versus $1.466 billion in the prior year quarter. Same store sales grew of 5.1%. Earnings per share grew 13.8% to $1.57 from $1.38 in the prior year quarter.

Shoe Carnival credited “favorable weather” with its impressive spike in same store sales in the fourth quarter.

The Indiana-based retailer of moderately priced footwear and accessories reported that net sales in the fourth quarter ended Jan. 31 increased $27.3 million to $227.6 million, compared to the fourth quarter of fiscal 2013. Same store sales increased 9.5%, which exceeded the company’s guidance for the quarter. Earnings per diluted share were 15 cents.

Rite Aid has become one of the key retail partners in a first for the U.S. market: a coalition loyalty program called Plenti that includes the likes of American Express, AT&T, Direct Energy, Exxon/Mobil, Hulu, Macy's and Nationwide.

Foothill Rach, Calif. – A winning bidder has reportedly emerged for the assets of The Wet Seal Inc., which declared bankruptcy in January 2015. According to the Wall Street Journal, Versa Capital Management LLC will take over at least 140 store leases and invest $10 million in the specialty apparel chain.

Santa Monica, Calif. – Macerich Co., a California-based mall operator whose properties include Tysons Corner Center in Tysons Corner, Virginia, has rejected a hostile $22 billion takeover bid from Simon Property Group Inc. Macerich has publicly stated it thinks the deal undervalues its portfolio and growth opportunities.

"It is truly disappointing Macerich would not even meet to discuss our proposal," said Simon Property CEO David Simon. "Macerich's rejection is based on a rosy view of its future prospects."

Seattle – Starbucks Corp. is publicly calling for better race relations and public discussion of racial issues in the U.S. The company took out full-page advertisements promoting better race relations in the New York Times and USA Today earlier this week, and also is encouraging employees and customers to participate in the effort.

New Canaan, Conn. - Stadium Capital Management LLC and its affiliates have notified Big 5 Sporting Goods Corp. that Stadium Capital will nominate three independent candidates to the board of directors of Big 5 at the 2015 annual meeting, expected to be held in June 2015. The nominees are Dominic P. DeMarco, a managing director and co-chief investment officer of SCM and an existing member of the board; Nicholas Donatiello Jr., a consumer, media and technology strategist; and Michael J.

Palo Alto, Calif. – SAP is opening HanaHaus, a new cafe and community workspace that aims to foster a culture of technology innovation, on March 19. Located in Palo Alto, California, HanaHaus seeks to become a central hub of activity that supports new thinking and entrepreneurial energy.