News

Lisa Evans has joined Gordmans Stores as EVP and chief merchandising officer as the apparel and home décor retailer looks to restore growth following another disappointing quarter.

Evans appointment to the head merchant role at the 98 store chain was announced in conjunction with third quarter results that saw same store sales decline 7.8% on top of a prior year decline of 6.1%. Net sales declined 3.1% to $146.7 million. The company reported a net loss of $1.9 million, or 10 cents a share, compared to a prior year profit of $1.1 million, or 6 cents a share.

Enhanced onmichannel capabilities were among the factors that incoming Foot Locker CEO Dick Johnson cited as contributing to the company’s increase in third quarter profits and same store sales.

Profits for the third quarter climbed to $120 million, or 82 cents per share, compared with profits of $104 million, or 70 cents per share, in the prior-year quarter. Third quarter same store sales increased 6.9% to $1.7 billion this year, compared with sales of $1.6 billion for the prior-year period.

Hibbett Sports reported relatively flat third quarter same store sales, but the company achieved record new expansion and is prepared to surpass 1,000 units in 2015.

For the third quarter, Hibbett posted profits of $16.9 million, down from $17.3 million in the prior-year quarter. The decline was mainly due to markdowns related to slow selling and aged inventory, the company said.

CROSSMARK veteran Jim Norred was named president of the sales and marketing services company’s Marketing Solutions Group.

Norred most recently served as EVP of corporate development with responsibility for client services, business development, insights and corporate marketing. Prior to that, he served as the company’s CIO. He also has served as president of G2, an integrated marketing joint venture that ultimately was acquired by WPP in 2008.

Online powerhouse Zappos has opened its first-ever freestanding store, a 20,000-sq.ft. pop-up in the company’s  hometown of downtown Las Vegas. Powered by state-of-the-art technology, the shop blends online and offline retail. In keeping with the brand’s heritage, it will be open 24 hours a day, seven days a week, from November 21 until December 31.    

Clothes aren’t the only thing big at Destination XL as evidenced by a double digit third quarter comp increase aided by omnichannel integration.  

Sales at Destination XL increased 5% to $93.6 million, compared with $88.7 million in the prior-year quarter. Same store sales increased 5.5%.  

With consumer surveys and holiday forecasts a dime dozen this time of year, Customer Growth Partners CEO Craig Johnson offers his take on some of the biggest fallacies regarding retail spending.

Customer Growth Partners, a consulting and research firm focused on retail and other consumer industries has determined that the top 10 biggest holiday myths of 2014 are:

Walmart is fulfilling its promise earlier this year to make a big investment in solar energy: The retailer has accepted bids from SunEdison and SolarCity to install as many as 400 new solar systems on its facilities over the next four years.  

NEW YORK - Best Buy on Thursday reported unexpectedly strong and better-than-expected profit and sales for the third quarter, gaining new momentum as it heads into the holiday shopping season.  It was the first time since the third quarter of last year that Best Buy reported positive comparable store sales.