News

SEATTLE — Recreational Equipment Inc. will make its Florida debut in the spring of 2013 with the opening a a store in Jacksonville, Fla. The company also announced that it will open its eighth store in Texas in the city of San Antonio in the fall of 2012.

The company's first Florida store in Jacksonville will occupy nearly 23,400 sq. ft. and will be located at The Markets at Town Center. The San Antonio location will occupy 27,500 sq. ft. 

Pittsburgh -- Dick's Sporting Goods Inc. reported Tuesday that profit for the fourth quarter rose 27% to $111.1 million, compared with $87.5 million in the year-ago period. Revenue increased 6% to $1.61 billion from $1.52 billion, matching Wall Street expectations. Same-store sales inched up 0.1%.

By banner, Golf Galaxy posted a 9% increase in same-store sales for the quarter, but namesake stores slipped 2.5%.

Omaha, Neb. -- Nash Finch Co. announced Monday that it will acquire Omaha, Neb., supermarket chain Bag ‘N Save, which will grow its retail grocery store portfolio by about 25%.

Primarily a food wholesaler, Nash Finch will absorb 11 stores in Omaha and one on York, Neb., through the acquisition. Terms have not been disclosed.

 

Houston -- Stage Stores Inc. reported Tuesday that profit for the fourth quarter rose 2% to $32.7 million, from $32 million a year earlier.

Revenue increased 6% to $479.1 million from $453.7 million, beating Wall Street's $468.2 million forecast.

For the year, Stage Stores reported net income of $31 million, down from $37.6 million in the prior year. Annual revenue climbed 3% to $1.51 billion.
 

Ankeny, Iowa -- Casey's General Stores Inc. reported Monday that profit for the third quarter rose 30% to $16.7 million, from $12.9 million a year earlier. Casey's revenue rose from $1.37 billion to $1.58 billion.

Both figures missed Wall Street estimates.

By Suzy Stewart, DHR International

It appears that 2010 was a real turning point for retailers going to the outside to find experienced and talented omnichannel executives.

TORONTO — Sears Canada is closing three downtown stores in Vancouver, Calgary and Ottawa. The move follows an announcement last month by Sears Holdings, the majority owner of Sears Canada, that it will raise about $770 million by spinning off parts of its business and selling prime real estate.

QUINCY, Mass., and PURCHASE, N.Y. — Stop & Shop customers in New England and the New York Metro area helped the retailer give back more than $22 million in 2011 into the hundreds of communities in which they operate.

ATLANTA — The Martha Stewart brand continues to resonate with consumers, which is why it is no suprise that The Home Depot has extended its agreement with Martha Stewart Living Omnimedia to offer Martha Stewart Living branded products at its 2,000-plus stores through March 2016.

The agreement also calls for an expansion of products offered. 

CAMP HILL, Pa. — In the wake of tornadoes that hit communities in Kentucky on Friday, retail pharmacy chain Rite Aid has donated to a local Red Cross chapter to assist victims.

The company said Sunday that the Rite Aid Foundation, its philanthropic arm, had donated $15,000 to the Bluegrass chapter of the American Red Cross. The foundation also will provide supplies and items to assist with disaster relief efforts. Eli Lilly Foundation also pledged to donate $100,000 to the Red Cross.