Marianne Wilson

Editor

Articles by author

  • Feb 24 2017
    Bruised by weak fourth-quarter results, department stores are now planning more cautiously for 2017 as they re-evaluate how to compete in a rapidly changing retail environment, 
     
    Requires Online Subscription
  • Feb 24 2017
    Raley’s has given COO Keith Knopf the additional title of president.
     
    Raleys owner & CEO, Michael Teel announced the promotion of Knopf, who joined the company nearly two years ago, around the time Teel took majority ownership of the company. Teel will continue to direct the development of Raley’s overall strategic plan.
     
    Requires Online Subscription
  • Feb 24 2017
    J.C. Penney on Friday announced plans to close stores and reduce its workforce even as it reported its first profit since 2010. 
     
    In one of its deepest cuts to date, the retailer said it will close 130 to 140 stores, which represent about 13% to 14% of its total, 1,014 store base. The locations to be shuttered are unprofitable, Penney said, and generated less than 5% of total annual sales. 
       
    Requires Online Subscription
  • Feb 23 2017
    A jolly holiday season helped Gap Inc. post fourth-quarter earnings and sales that beat expectations, leading to speculation that the chain’s turnaround may be starting to take hold. 
     
    The nation’s largest apparel retailer reported net income of $220.0 million, or 55 cents per share, up from $214.0 million, or 53 cents per share, last year.
     
    Sales totaled $4.43 billion, up from $4.39 billion and ahead of the $4.41 billion analysts had expected. 
     
    Requires Online Subscription
  • Feb 23 2017
    Nordstrom Inc. reported better-than-expected profit for its fourth quarter amid a strong performance by Nordstrom Rack and cost cuts. 
     
    The department store retailer reported that it earned $201 million, or $1.15 per share, for the quarter ended Jan. 28, compared with $180 million in the year-ago quarter. Excluding certain items, the adjusted earnings came to $1.37 per share. Analysts had estimated $1.15 a share on average.
     
    Requires Online Subscription
  • Feb 22 2017
    It’s a record that most retailers are envious of, particularly in today’s competitive and disrupted marketplace. 
     
    Requires Online Subscription
  • Feb 21 2017
    Popeyes Louisiana Kitchen is about to get a new owner. 
     
    Restaurant Brands International Inc., owner of Burger King and Tim Hortons, announced it would acquire Popeyes Louisiana Kitchen for $1.8 billion in cash.
     
    Requires Online Subscription
  • Feb 21 2017
    Walmart on Tuesday reported a solid fourth quarter amid a big increase in online sales and higher store traffic. The company also announced it is raising its dividend.
     
    Walmart earned $3.76 billion, or $1.22 per share in the quarter ended Jan. 31, compared with $4.57 billion, or $1.43 per share, in the year ago period. Walmart’s earnings were impacted by investments in its digital business as it continues to boast its defenses against Amazon and other online competitors.
       
    Requires Online Subscription
  • Feb 17 2017
    Declining mall traffic is taking a toll on Perfumania.
     
    Perfumania Holdings Inc. has hired advisers to explore strategic alternatives, including a debt restructuring, Reuters reported. It also plans to negotiate with landlords to exit some of its 313 Perfumania stores.
     
    The company recorded debt of approximately $164 million on Oct. 29 and $2.1 million in cash and cash equivalents, the report said.
     
    Requires Online Subscription
  • Feb 17 2017
    The $500 million sale of online diamond and jewelry retailer Blue Nile has been completed.
     
    The company was acquired by an investor group comprised of Bain Capital Private Equity, Bow Street and Adama Partners for $40.75 per share in cash. The transaction, first announced on Nov. 7, 2016, was approved by shareholders on Feb.2, 2017.
     
    Requires Online Subscription