News

Citi Trends sales head in the right direction
Savannah, Ga. – Specialty discount apparel retailer Citi Trends Inc. reported some encouraging trends in terms of sales for fiscal and full year 2014. Total sales for the fourth quarter increased 15% to $181.1 million, compared with $157.2 million in the same period a year earlier.

Same-store sales increased 13.9% in the fourth quarter. A number of winter storm-related closings in January 2014 and an earlier start to tax refund season the last two days of the month in January 2015 helped boost same-store sales for the quarter.
Sam’s Club gets to the heart of Valentine’s Day
Sam’s Club is taking a different approach to Valentine’s Day promotions by offering customers the gift of good health.

According to a national survey, Americans plan to spend around $142 on Valentine’s Day this year for jewelry, candy and a special night out. What if, in addition to these, people could also give the gift of health to their loved ones this year without breaking the bank even more? Sam’s Club is making it possible this Valentine’s Day by offering free heart health screenings.

Amazon launches Amazon Giveaway

Seattle – Amazon.com keeps on rolling out new products, technologies and services. The latest is Amazon Giveaway, a new self-service tool designed to modernize radio giveaways.

Everyone from authors, aspiring artists, non-profits, brands, bloggers, social media gurus and more, can now use Amazon to create a giveaway, choosing prizes from millions of eligible physical items. Amazon Giveaway is an intuitive tool that allows anyone to create and host their own giveaway, to generate awareness and reward their audiences.
Pier 1 sacks CFO after faulty forecast

Pier 1 Imports Inc. has retracted its profit guidance for the fourth quarter and replaced its chief financial officer after what the company's CEO said was a miscalculated financial forecast.

CEO Alex W. Smith said the retailer’s same store sales growth in January was 5.7%, well below a forecast that "overestimated the recapture of lost sales from last year’s storms.”
NRF Wrap-Up Report: Focus on retail trends, tech insights

New York -- This special report from Chain Store Age offers a recap of the issues and trends that surfaced at the NRF’s 2015 Annual Convention & Expo (the “Big Show”).

Download the report here and read about retailing’s global outlook, the outlook for online spending, the changing luxury market, hot technology trends and more.
Survey: Smartphone shopping trails smartphone use

Denver – Smartphone use continues to rise, with 71% of all consumers and 85% of Millennials owning a smartphone. However, Placeable recently surveyed 1,000 U.S. consumers and found that 42% have never purchased anything on their mobile phones, and more than nine out of 10 consumers don’t use mobile payments when they’re available.
Best Buy says ‘we do’ to wedding registry

Best Buy is finally joining the growing online gift registry market by offering wedding registry services. More than 1.5 million couples register for wedding gifts each year. Options for these couples soon will improve with the Feb. 16 launch of the Best Buy Wedding Registry, enabling couples everywhere to register for their most-wanted tech essentials: from wireless speakers to cameras and from Ultra HD TVs to ever-popular kitchen gadgets.
West Coast ports to shut down for four days over upcoming weekend

New York -- Shipping operations will be suspended at U.S. West Coast ports over the coming long weekend, the Pacific Maritime Association announced Wednesday. The planned shut down comes amid stalled labor talks between the companies and the union representing 20,000 dockworkers.
Rite Aid acquires PBM for $2 billion

CAMP HILL, Pa. — Rite Aid is set to acquire the leading independent pharmacy benefit manager Envision Pharmaceutical in a deal valued at $2 billion, the retailer announced Wednesday. Rite Aid shares were up more than 8% in pre-market trading on the news.
Duluth Trading Co. names new CEO

Duluth Trading Company has promoted Stephanie Pugliese to president and chief executive officer.

Pugliese is a former executive with Ann Taylor and Lands’ End.

The previous CEO and principal owner of Duluth Trading, Steve Schlecht, will continue as the company’s executive chairman. Pugliese’s appointment is effective immediately.