News

Canadian market launches 'scratch-n-dent' produce line
Canada’s leading grocer has developed a novel idea that its supermarket competitors in the U.S. may want to think about using.

Loblaw has introduced Naturally Imperfect-labeled produce. The company describes the new line as the smaller, misshapen produce that still tastes great and is good for you. The produce will now be available at stores in Ontario and Quebec.
Lumber Liquidators fighting back
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Stein Mart succeeds in Q4; opening 11 stores

Jacksonville, Fla. – Stein Mart Inc. had a generally successful fourth quarter of fiscal 2014 and plans to open 11 new stores, close two stores and relocate one store during fiscal 2015. The off-price retailer reported net income of $12.3 million, up 66% from $7.4 million the same quarter a year earlier and driven by higher gross profit and lower selling, general and administrative (SG&A) expenses.

Net sales rose 7% to $387 million, from $360.79 million. Same-store sales increased 5.6%.
Genesco profits rise, but less than expected

Genesco Inc. cited construction expenses and currency pressures as reasons for the company’s weaker-than-expected fourth quarter earnings.

The company posted earnings from continuing operations of $51.8 million, or $2.18 per diluted share, for the quarter ended Jan. 31. The numbers are an improvement from the year-ago period, which saw earnings from continuing operations of $42.2 million or $1.79 per diluted share.
Stein Mart growing same store sales, footprint

Off-price retailer Stein Mart is poised for expansion as stronger traffic in the holiday quarter helped the company post an increase in same store sales.
Destination Maternity swings to loss in calendar transition

Moorestown, N.J. – Destination Maternity Corp. swung from profit to loss during the four-month period ended Jan. 31, 2015. This period marks the transition period related to the company's previously announced fiscal year-end change from Sept. 30 to the Saturday nearest Jan. 31 each year.

Destination Maternity reported a net loss of $17.38 million, compared to net income of $3.09 million in the same period a year earlier. Higher cost of goods sold and a variety of impairment charges pushed Destination Maternity into the red.
Report: Walgreens Boots CEO sees potential for more U.S. drugstore acquisitions

New York -- Walgreens Boots Alliance may soon be on the hunt for its next acquisition target in the United States, Stefano Pessina, executive vice chairman and acting CEO Walgreens Boots Alliance, told attendees of the Retail Week Live conference here on Thursday, according to a Reuters report.
Children's Place increases store closures

The Children’s Place Inc. on Thursday accelerated its store closing plans to 200 stores through 2017 (including 76 stores closed in 2013 and 2014), up from its previous announced target of 125 stores through 2016.
Cindy Davis to headline IRI Summit

Walmart Executive Vice President of Global Customer Insights and Analytics Cindy Davis has been confirmed as a featured speaker for IRI’s upcoming Summit.
Simon names 10 disruptive finalists in disruptive technologies competition

New York – Retail real estate firm Simon, in partnership with fashion and retail event company Decoded Fashion, has announced the 10 finalists in its "Future of Retail: Meet the Disruptors" competition. The competition's mission is to discover startups in retail or retail-related technologies whose innovations will enhance the shopping experience for future generations.

The finalists, all innovative startups in retail or retail-related technologies, are: