Rue21 bullish on expansion; to open 125 stores in 2013
Warrendale, Pa. — Teen fashion retailer Rue21 opened its 900th store on March 21, in the Southern Hills Shopping Center of West Plains, Missouri. The company also reported that its fourth quarter income increased 16% on strong sales.
Rue21, which has opened more than 500 stores in the last five years, expects to open another 125 stores in 2013 and has opened 23 stores so far this year. It expects to open its 1,000th store in the fourth quarter. The retailer’s long term plan is to grow the chain to more than 1,700 stores in the United States. It currently operates some 900 stores in 47 states.
“Beyond new store openings, we have many strategic initiatives for 2013 and beyond to take this company to the next level of its growth, including e-commerce, and we are look forward to the possibilities ahead of us,” said Bob Fisch, CEO and president, Rue21.
For the fourth quarter, ended Feb. 2, Rue21 reported that it earned net income of $15 million, compared to $12.9 million in the year-ago period.
Revenue increased 22.4% to $269.1 million from $219.9 million. Same-store sales inched up 0.7%.
Sam’s Club doubles up with Walmart in La Marque
Sam’s Club this week opened a new 136,000-sq.-ft. club adjacent to a Walmart supercenter in La Marque, Texas.
The club, built in 1991, was relocated from neighboring Texas City. The communities are located along I-45 southeast of Houston en route to the coastal community of Galveston. The new club, Sam’s first of the year, is one of an expected 15 to 20 new units this year that mark Sam’s most aggressive expansion in roughly a decade. Sam’s ended last year with 620 clubs and sales of $56.4 billion.
As president and CEO Rosalind Brewer noted during the Sam’s Club portion of Walmart’s fourth quarter earnings call, "Sam’s Club has a great opportunity to engage more and more members in both new and existing markets."
As a result of the relocation to La Marque, Sam’s Club added 40 new employees and was able to include a hearing aid center, optical center and pharmacy.
Former Adidas exec named CEO at 2XU
CARLSBAD, Calif. — 2XU, a manufacturer of high performance athletic apparel, has named Kevin Roberts CEO of the company.
"2XU represents the pursuit of an incredible global business opportunity," said Roberts. "I greatly value the entrepreneurial culture of the brand and will continue to foster it moving forward."
As CEO, Roberts will further build on the 2XU tenets laid down at the company’s founding in 2005 — engineering innovative performance products distinctly more technical and intelligent in design against their competitors in the global sports apparel industry.
After an early career rising through the ranks in retail and wholesale sales including roles at Asics and Nestle, Roberts joined rugby apparel brand Canterbury, and lead it back to profitability as general manager in the early 2000s. At age 30, Roberts was appointed managing director of Adidas Australia. Roberts ultimately rose to the position of SVP within Adidas’ Sports Performance Division and was responsible for 9 billion dollars in global revenue.