News

Retailers advance cyber crime agenda with key hire
The retail industry’s data security efforts were upgraded week when the Retail Industry Leaders Association named the former Texas chief information security officer to lead the trade group’s new intelligence sharing organization.

RILA said Brian Engle would serve as executive director of the Retail Cyber Intelligence Sharing Center (R-CISC) and be responsible for managing the organization’s daily affairs.
Report identifies online Canadian shoppers as top target for U.S. retailers
New York -- U.S. retailers seeking to grow business with online shoppers across country borders should look to Canada, according to a report by Borderfree, a provider of international cross-border ecommerce solutions.

RadioShack files Chapter 11 but brand to live on in deal with Standard General and Sprint

New York -- In an indication that the end could be getting close, RadioShack Corp. will close its distribution center in Hagerstown, Maryland, the Dallas Business Journal reported.

The move will result in some 87 layoffs.

The report cited the Maryland Department of Labor, Licensing and Regulation, which said the facility will close March 11. The news of the closing follows reports that the struggling chain is near to filing Chapter 11 bankruptcy protection.
Boot Barn marches on in Q3

Boot Barn continued its march of success in the third quarter, which produced another round of positive financial results.

The company reported that for the third quarter ended Dec. 27, net sales increased 13.1% to $130.5 million; same store sales, which include e-commerce sales, increased 7.2%; and net income was $8.8 million, or $0.36 per diluted share, compared to a net income of $6.3 million or $0.33 per diluted share.
Kirkland’s names new CEO as sales accelerate

It was a happy holiday in the home décor category and Kirkland’s is celebrating with the appointment of a new CEO and an elevated profit forecast.
Steinmart borrows millions to pay special dividend

Steinmart plans to pay a $5 special dividend thanks to the availability of low cost financing that allowed the company to more than double the size of its credit facility.
Kirkland’s promotes COO to chief role on heels of strong holiday results

Nashville, Tenn. -- It’s a changing of the guard at Kirkland's. Following its successful holiday performance, the home goods company announced that current president and COO Mike Madden will step into the CEO role, effective Feb. 8. He succeeds Robert Alderson, who will remain on the company’s board, which is being expanded to accommodate his addition.
GE Capital: 2015 retail industry trends

New York -- A mixed economic backdrop is expected to drive modest retail sales growth in the 3% to 4% range in 2015, compared to 5.5% average growth in 2010-2012 and 5.8% in 2002-2006, according to GE Capital. Low- and mid-income households will be particularly constrained by stagnant earnings despite improvements in employment status and the housing market as well as lower gas prices.

According to GE Capital, the key trends in retail include the following:
Cache files for Chapter 11

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.”
Conn's comps jump 4.9% in Q4

Conn’s Inc. seemed to be putting their troubles behind them in the fourth quarter, as the company reported a modest increase in same store sales. The company posted a 4.9% increase in same store sales for January (in January 2014, the company posted an increase of 28.2% mostly due to softer underwriting guidelines). Same store sales for the quarter increased 1.3% and they increased 8% for fiscal 2015.