News

Walgreens will keep headquarters in U.S.
Deerfield, Ill. – Walgreens Boots Alliance plans to keep its headquarters in the U.S. and never went beyond the consideration stage of moving operations outside the U.S. in an “inversion” to reduce corporate taxes. At the Walgreens annual shareholder meeting May 28, Walgreens chairman James Skinner said Walgreens headquarters will remain in Deerfield, Illinois.
Destination XL shrinks Q1 loss; will open 40 stores
Canton, Mass. – Destination XL Group Inc. shrunk its net loss to $574,000 in the first quarter of fiscal 2015, compared to $3.5 million the same quarter a year earlier. A shift to operating income from operating loss helped reduce total net loss.

During the current fiscal year, Destination XL intends to open approximately 32 DXL retail and eight DXL outlet stores. It also plans to close approximately 42 Casual Male XL and three Rochester Clothing stores.

Wayfair names new CTO

Hot home furnishings retailer Wayfair has outgrown its chief technology officer, who also happens to be one of the company's co-founders.

So the retailer has hired Jeremy Delinsky to be the company’s new chief technology officer.

Delinsky joins Wayfair with more than a decade of leadership experience, formerly serving as CTO and, most recently, chief product officer (CPO) at athenahealth. Delinsky will report directly to Steve Conine, Wayfair’s co-founder and co-chairman.
Dollar Tree to sell 330 Family Dollar Stores to Sycamore Partners

CHESAPEAKE, Va. -- Dollar Tree on Friday announced it had reached an agreement to sell private equity firm Sycamore Partners a divestiture package of 330 Family Dollar Stores locations, with the deal contingent on the completion of Dollar Tree’s pending acquisition of Family Dollar. Sycamore Partners intends to operate the 330 stores, which represent approximately $45.5 million of operating income for Family Dollar, under the Dollar Express banner.
Boot Barn keeps stepping it up

Rapidly growing western wear retailer Boot Barn Holdings Inc. showed no signs of slowing down in the fourth quarter.

The Irvine, Calif.-based western apparel and footwear retailer posted a 16% increase in revenue to $103.3 million for the quarter that ended March 28. Same-store sales, which include e-commerce sales, increased 7.3%. The retailer opened 18 new locations for a total of 169 in 26 states. It was the 22nd consecutive quarter of same-store sales growth.
Online fulfillment choices ‘Pick Up’

The seminal digital event that occurred in the year 2007 was the introduction of the first iPhone, but there was another noteworthy development that year involving Walmart e-commerce.

A few months after the iPhone made headlines, Walmart rolled out its buy online, pick up in store service branded as Site to Store and helped give meaning to the word omnichannel. In digital terms, 2007 was eons ago.
Ulta Beauty’s Q1 income, sales surge; 100 stores on tap

Bollingbrook, Ill. -- Ulta Beauty came out of the gate running in the first quarter, reporting better-than-expected income and revenue amid strong same-store sales and online growth. The retailer plans to expand square footage by approximately 13% in 2015, with the opening of 100 net new stores.

Ulta Beauty said its net income increased to $66.9 million in the quarter, ended May 2, compared to $50.0 million in the year ago period.
Abercrombie loss widens as sales fall 14%; expects sales to improve

New Albany, Ohio – Abercrombie & Fitch Co. posted a wider-than-expected loss and drop in revenue for its first quarter. But the teen apparel retailer, which is in the middle of a brand update to improve its controversial image, sounded a positive note, noting that its comparable sales continued to improve in May and that it expects sales to continue to improve in the second half.
CBL announces opening of redevelopment at CoolSprings Galleria

CHATTANOOGA, Tenn. -- CBL & Associates Properties announced the opening of the redevelopment at CoolSprings Galleria in Nashville (Franklin), Tenn. Designed to significantly enhance the offerings at the shopping center, the redevelopment of the former Sears location includes adding a mix of new fashion stores and fine dining options as well as a new mall entrance to improve mall circulation.
ULTA Beauty continues to dazzle shoppers

ULTA Beauty is that rare breed of retailer capable of exceeding ever loftier growth expectations and it did so again with the release of first quarter results on May 28.

ULTA reported that net sales increased 21.6% to $868.1 million from $713.8 million in the first quarter of fiscal 2014. Same store sales increased 11.4% compared to an increase of 8.7% in the first quarter of fiscal 2014. The 11.4% same store sales increase was driven by 7.2% growth in transactions and 4.2% growth in average ticket.