REAL ESTATE

JoS. A. Bank opens 600th store; plans to grow to 800 stores

BY Marianne Wilson

Hampstead, Md. — JoS. A. Bank Clothiers announced the opening of its 600th store, in the Shops at Midtown Miami on North Miami Avenue in Miami. The company said it expects to open another 200 stores in the future as part of its long-term plan to grow the chain to approximately 800 stores, including 700 full-line stores and 100 factory stores in the United States.

“Over the past five years, we have opened more than 190 new stores and created more than 3,000 jobs in the United States,” stated R. Neal Black, CEO of JoS. A. Bank. “Our balance sheet continues to be strong and it positions us to be able to focus on the long-term growth prospects of the company.”

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OPERATIONS

Report: Amazon, Costco tops in online customer satisfaction

BY Marianne Wilson

New York — Amazon and Costco lead the pack lead the pack when it comes to the e-tailers that have most satisfied their customers, according to the "2012 Harris Poll Shopper Satisfaction Study of Online Retailers." The survey used a 100-point scale to measure customer satisfaction with the e-commerce sites of 14 big retailers. Amazon.com ranked first with a score of 82.

Costco Wholesale Corp. took the overall No. 2 spot with 77 points. Under the subcategory of clothing and apparel, L.L. Bean and Victoria’s Secret led the way with 73 points each; J.C. Penney and Kohl’s topped the department store category with 70 points apiece.

Harris conducted the poll online from Oct. 25 to Nov. 13 using the Google Consumer Surveys tool. The study evaluated 14 e-retailers and asked consumers to rate e-retailers for the ease of shopping their sites, price, selection and their likelihood to recommend the site to others. Amazon.com took the top spot in all categories, including price, earning a 5.7 on a 7-point scale. The next highest ranking on price was a 5.2 for Costco.

Target ranked third overall with a score of 75; Zappos was sixth with 72 points. Abercrombie & Fitch and Urban Outfitters tied for last with 60 points.

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FINANCE

Ulta Beauty Q3 net income up 42.5%; to open 125 stores in 2013

BY Marianne Wilson

Bolingbrook, Ill. — Ulta Beauty reported a double-digit gain in third-quarter sales and net income. The company said it is planning to open approximately 125 stores in 2013.

For the quarter ended Oct. 27, net income rose 42.5% to $38.2 million. Net sales rose 22.4% to $505.6 million, from $413.1 million in the year-ago period. Same-store sales were up 8.4%.

During the quarter, Ulta opened 49 stores, for a total of 537 stores.

In 2013, the chain expects to exceed its long-term plans 15% to 20% in annual store growth, adding approximately 125 stores, representing 22% square footage growth, the company stated.

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