Content about Retail Executive News

May 18, 2012
Bill reverses right of New Jersey to claim unused gift card

A 2010 law that gave the state of New Jersey the authority to claim the value of unused gift cards as revenue has been repealed by the state’s Senate Budget and Appropriations Committee, according to the Newark Star-Ledger.

May 18, 2012
Foot Locker profit surges 36% on strong sales

Foot Locker's first-quarter profit rose 36%, exceeding Wall Street predictions.

May 18, 2012
Hibbett profit increases 24%; opening 55 to 60 stores

Hibbett Sports Inc. said that its fiscal first-quarter net income increased 24% on higher demand for sneakers and other athletic gear.

May 18, 2012
Loft sales help lift Ann Inc. profit 5%; 65 stores on tap for fiscal 2012

Ann Inc.'s fiscal first-quarter net income increased a better-than-expected 5%, boosted by growing sales at its Loft division.

May 18, 2012
Neiman Marcus, Walnut Creek, Calif.

Neiman Marcus took full advantage of its Northern California locale in the design of its store in Walnut Creek, Calif.

May 18, 2012
Rewards: The New Currency

By Craig McLaughlin, Bridge2 Solutions

May 18, 2012
Save-A-Lot opens in Atlantic City

Discount grocer Save-A-Lot, a wholly-owned subsidiary of Supervalu, opened its first store in Atlantic City, N.J., on May 17, becoming the first full-service grocery store within a 21-mile radius of the city.

May 18, 2012
Starbucks announces management changes to accelerate growth

Starbucks Corp. announced a series of management changes that it said it was undertaking to accelerate its innovation and growth.

May 18, 2012
Subway plans 1,200 stores for 2012, making deals at RECon

Sandwich mega-chain Subway said that it has set 2012 development goals of 1,200 North American locations and, toward that end, said a large contingent of company representatives will be in attendance at the International Council of Shopping Centers’ RECon event in Las Vegas, May 20-23.

May 17, 2012
Is Time on Penney’s Side?

Does J.C. Penney have time on its side? Or to put it another way: How long will investors wait for J.C. Penney’s transformation? Because, based on the chain’s awful first quarter, it doesn’t appear to have even taken root yet. I’m not surprised.

May 17, 2012
Sears Holdings swings to profit in Q1, to spin off minority stake in Sears Canada

Sears Holdings Corp. reported that it generated a profit of $189 million for the quarter ended April 28, after losing $170 million in the same period last year.

May 17, 2012
Silver Jeans Co. to expand U.S. store presence, names head of retail

Canadian denim company Silver Jeans Co. said it will expand its branded stores in the United States, and has created a new retail division to execute the strategy.

May 17, 2012
Taubman to launch construction of Mall of San Juan, marking Nordstrom and Saks debuts

Taubman Centers said that it will begin construction this summer on its 640,000-sq.-ft. Mall of San Juan, in San Juan, Puerto Rico.

May 17, 2012
Wal-Mart beats Street as profit jumps on strong sales

Wal-Mart Stores Inc. reported a better-than-expected 9.2% increase in first-quarter profit on increased sales in the United States and a strong performance abroad.

May 16, 2012
Abercrombie Q1 profit down 88%, hurt by 'difficult' European market

Abercrombie & Fitch Co. reported a 88% decline in its first quarter profit, hurt in part by difficult market conditions in Europe.

May 16, 2012
Chico’s Q1 beats expectations, ups outlook

Chico's FAS Inc. said that its fiscal first-quarter net income rose a better-than-expected 17% to 53.6 million in the three months through April 28, compared with $45.9 million a year ago.

May 16, 2012
J.C. Penney to roll out several new brands; open 20,000-sq.-ft. in-store home shop

J.C. Penney executives laid out further details of their strategy going forward during the chain’s quarterly conference call with investors.

May 16, 2012
Regency Centers receive LEED certifications in North Carolina and Illinois

Regency Centers, a national owner, operator and developer of grocery-anchored and community shopping centers, announced that buildings at two of its shopping centers in North Carolina and Illinois have received LEED Silver established by the U.S. Green Building Council (USGBC).

May 16, 2012
Talbots, Sycamore extend exclusivity agreement

The Talbots and Sycamore Partners extended the exclusivity period for the private equity firm's non-binding $214.6 million takeover offer to May 22.

May 16, 2012
Target Q1 beats estimates, raises forecast

Target Corp. reported a better-than-expected 1.2% increase in first-quarter profit as warm weather and an early Easter helped drive sales.

May 15, 2012
BDO study: 20 biggest risk factors for retailers

General economic conditions, U.S. and foreign supplier vendor concerns, and competition/consolidation are the top three risk factors cited by retailers, according to a new study by BDO USA, LLP, a leading accounting and consulting firm.

May 15, 2012
Dick’s sees 53% profit surge in Q1, raises outlook; to open 40 stores in 2012

Dick's Sporting Goods Inc. reported that profit for the quarter ended April 28 surged 53% to $57.2 million, compared with $37.5 million for the year-ago period.

May 15, 2012
DLC, Hutensky acquire Walmart Plaza

DLC Management Corp. and Hutensky Capital Partners have announced a joint-venture acquisition of Walmart Plaza, a 199,393-sq.-ft. shopping center in Derby, Conn.

May 15, 2012
It’s official: Liz Claiborne is now Fifth & Pacific

Liz Claiborne Inc. said that it has officially changed its name to Fifth & Pacific Cos., following an initial announcement in January that it would do so.

May 15, 2012
J.C. Penney loses $163 million in Q1; same-store sales slide 18.9%

J.C. Penney Co. reported a wider-than-expected loss of $163 million, or 75 cents a share, for its fiscal quarter ended April 28, 2012, compared with a year-earlier profit of $64 million.

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