News

Kohl’s boosts guidance on strong holiday sales
Menomonee Falls, Wis. -- Kohl’s Corp. raised its earnings guidance for the recently completed business year, citing strong sales growth in the holiday season.

The retailer reported fourth quarter same-store sales of 3.7% and updated its fiscal 2014 diluted earnings per share guidance to $4.20 – $4.22.

“We are pleased with our fourth quarter sales as we saw our base business improve and our new strategic framework, the Greatness Agenda, take hold," said Kevin Mansell, Kohl's chairman, CEO and president.
Wegmans edges out Amazon to top Harris corporate reputation poll
New York — With just 85 stores, Rochester, New York-based Wegmans Food Market edged past online giant Amazon to take the top spot for corporate reputation among the 100 most visible companies, according to the 16th annual Harris Poll Reputation Quotient study.

Harris Poll expanded the list to 100 companies this year, up from 60, to offer deeper insight by industry. As a result, three of this year’s top 10 companies are debuting on the list, including No. 1 Wegmans, No. 7 L.L. Bean and No. 8 Publix Supermarkets.

Target’s upcoming investor conference first of Cornell era

New York -- Target chairman and CEO Brian Cornell has made some bold moves since arriving at Target last fall, but the most significant revelations concerning long term prospects will come in early March when the company hosts its first investor conference of the Cornell era on March 3.
Roundy’s taps Ecova for energy, sustainability solutions

Spokane, Wash. -- Ecova, a total energy and sustainability management company, has been selected by Milwaukee-based Roundy’s Supermarkets to provide utility expense and data management solutions, as well as carbon management solutions and Energy Star benchmarking.
Analysis: Staples-Office Depot Merger Could Lead to Major Industry Consolidation

By Will McKitterick, analyst, IBIS World
Amazon opens its first-ever staffed pickup and drop-off center, at Purdue University

Seattle -- Amazon confirmed reports that it is piloting co-branded pickup sites with universities with the announcement that it has opened its first-ever staffed pickup and drop-off on-campus location, at Purdue University in West Lafayette, Indiana, and plans to open similar sites at the University of California, Davis and the University of Massachusetts Amherst.
Survey: 80% of retailers to increase customer experience spending in 2015

Wakefield, Mass. — More than 80% of retailers plan to increase their customer experience spending in 2015, according to a survey conducted by Econsultancy for SDL, a provider of global customer experience. The report also reveals that while North American retailer brands appreciate the need for technology integration, with 97% citing integration of customer experience technology as “important” or “essential” to their growth, only 40% describe their relevant systems as integrated and cross-functional.
Brown Shoe names J.C. Penney exec as CFO

St. Louis -- Brown Shoe Company announced that Kenneth Hannah has been named senior VP and CFO of the company, replacing Russ Hammer as of Feb. 16.

Hannah most recently served as executive VP and CFO of J.C. Penney Co. Prior to that time, he served in multiple executive roles at SunEdison (formerly MEMC Electronic Materials), including president of Solar Energy and of Solar Materials and as VP and CFO.
Cache files for Chapter 11 protection

New York -- Cache on Wednesday said it had filed for Chapter 11 bankruptcy protection after running out of capital and time to complete its turnaround. The women’s apparel retailer will continue to operate its business, but intends to continue to reduce its store count and sell and renegotiate some of its leases.

Cache chairman and CEO Jay Margolis said the company filed Chapter 11 with the goal of “securing Cache’s future.”
Staples buying Office Depot

New York -- Staples has entered an agreement to acquire Office Depot in a cash and stock deal valued at $6.3 billon that is sure to face a high degree of regulatory scrutiny.
Staples to acquire Office Depot in cash and stock deal

Staples has entered an agreement to acquire Office Depot in a cash and stock deal valued at $6.3 billon that is sure to face a high degree of regulatory scrutiny.
Holiday sales lift Kohl's fortunes in 2014

Kohl’s Corp. has increased its outlook for the recently completed business year, citing strong sales growth during the holiday season.

The company reported fourth-quarter same store sales growth of 3.7%. The company also updated its fiscal 2014 earnings per share guidance to a range of $4.20 to $4.22 per share. On average, 27 analysts polled by Thomson Reuters expect the company to report earnings of $4.06 per share for fiscal 2014.