News

Small business customers are the lifeblood of Sam’s Club and to ensure the continued vitality of the crucial shopper segment the retailer is supporting an entrepreneurial youth organization.

Sam’s donated $250,000 to the U.S. Chamber of Commerce Foundation (USCCF) and the Young Entrepreneurs Academy (YEA!) to grow and support YEA!’s national educational program that works to transform middle and high school students into confident entrepreneurs.

New York -- Robert Nardelli, the former chairman and CEO of The Home Depot and Chrysler, is joining Pep Boys.

Nardelli has been appointed to Pep Boys’ board of directors, bringing the current size of the board to nine directors.

Modesto, Calif. -- Lucky and Save Mart announced the launch of a rewards program driven by an integrated smartphone platform targeted to fit into the busy lifestyle of today’s shopper.

Named appropriately for each banner, Save Mart shoppers can start using the “Save Smart” program starting March 4 at stores throughout Sacramento, the Central Valley and Reno. “Lucky You” will launch in Bay Area Lucky stores on March 18.

New York -- Women’s apparel retailer Dressbarn is thinking omnichannel with the launch of both a digital and in-store experience, called Dressbar, focused on exclusive designer collaborations with notable names in fashion.  

Beginning March 5, the collection will be available to shoppers at Dressbarn stores, and online at dressbar.com. In addition, the retailer is opening a Dressbar pop-up shop In New York City, at 102 Fifth Avenue.

Washington, D.C. -- Consumers are opening up their pocketbooks for St. Patrick’s Day, according to the National Retail Federation’s St. Patrick’s Day Spending Survey.

The survey, conducted by Prosper Insights and Analytics, finds that nearly 127 million Americans are planning to celebrate the traditional Irish holiday and will spend an average of $36.52 on green garb, festive food and more, compared to $35.78 last year.

Phoenix – Net income at PetSmart inc. inched up 0.4% to a better-than-expected $132.1 million in the fourth quarter, up from $131.5 million in year-ago period. One-time costs associated with profit improvement and the company’s pending $8.7 billion sale to investment firm BC Partners, announced in December 2014, prevented net income from growing further.

Net sales increased 6% to $1.9 billion, from $1.81 billion. Same-store sales growth, including sales from online websites, rose 2.6%.

New York – At least two major suitors are vying for the hand of Ann Taylor parent company Ann Inc. According to Reuters, private equity firms Bain Capital and Golden Gate are both negotiating to purchase Ann Inc.

Ann Inc. has a $1.6 billion market capitalization. There is no guarantee either company will receive the financing they would need to make a purchase, and other potential buyers may emerge this week.
 

Pleasanton, Calif. - Blackhawk Network Inc., a prepaid and payments network, has expanded its digital services platform. The digital services platform is now enabled with exchange services, which allows users to instantly sell their retail, restaurant and a variety of other brands' gift cards.  

Pittsburgh – American Eagle Outfitters Inc. soared past Wall Street expectations in the fourth quarter, helped by reduced promotions and discounts and the elimination of asset impairments. The teen retailer on Wednesday posted better-than-expected fourth quarter results and issued an upbeat outlook for the first quarter, projecting earnings of $0.09 to $0.12 per share, versus analysts' estimates of $0.07 per share.

New Albany, Ohio – It was tough going for Abercrombie & Fitch in the fourth quarter, with declines in both income and sales. Looking ahead, the company said its priorities include increasing comparable sales trends in both its U.S. and international stores, making strategic investments in its omnichannel business, ongoing expense reductions, and selective expansion in high-growth international markets.