Retail

NRF: U.S. Retail Sales Will Rise 4.1 Percent in 2014

NRF

WASHINGTON-U.S. retail sales—excluding automobiles, gas stations and restaurants—will grow 4.1 percent in 2014, according to a forecast by the National Retail Federation. NRF said that it also expects online retail sales to increase by between 9 and 12 percent this year. “Measured improvements in economic growth combined with positive expectations for continued consumer spending willMore »

Q4 Sales Down, Comps Flat for Kirkland’s

Kirkland’s

NASHVILLE, Tenn.-Tough weather conditions and the smaller holiday season muted Kirkland’s fourth-quarter results, according to a preliminary statement on the quarter from the specialty retailer. Net sales in the quarter, which ended on Feb. 1, fell 4.2 percent to $156.1 million. Same-store sales, which included e-commerce sales, were flat compared to last year’s fourth quarter.More »

Aaron’s Q4, Fiscal-Year Net Plummet

Aaron's

ATLANTA-Ending a difficult year, Aaron’s posted a 38.1 percent drop in fourth-quarter net income to $22.7 million, bringing its full fiscal-year net income to $120.7 million, down 30.3 percent from the prior year. Total revenues for the specialty retailer were down 2 percent to $553.9 million in the quarter, which ended on Dec. 31. ForMore »

Kohl’s Q4 Comps Drop 2 Percent

Kohl’s

MENOMONEE FALLS, Wis.-Same-store sales for Kohl’s in its fiscal fourth quarter were down 2 percent, according to a preliminary statement on the company’s financial results for the quarter. The statement said Kohl’s managed a 0.8 percent gain in same-store sales for the combined November-December period. However, January sales turned up less than expected due toMore »

Walmart to Ramp Up Canadian Operation

Walmart

BENTONVILLE, Ark.-Walmart Canada plans to expand its store count and online operation. A Walmart corporate spokesman confirmed press reports that the retailer will spend nearly C$500 million (about $450 million) on 35 new supercenters in Canada, an enhanced distribution network and e-commerce projects. The initiatives are expected to generate about 7,500 jobs over the nextMore »

One King’s Lane Names Rajan to Head Technology

Arun Rajan

SAN FRANCISCO-Arun Rajan has joined One King’s Lane as chief technology officer. In his new role, Rajan will lead the website’s end-to-end technology delivery, data infrastructure and site operations, working alongside David Yu, who joined One King’s Lane last year as chief product officer. He reports to Doug Mack, One King’s Lane’s CEO. Before takingMore »

J.C. Penney Q4 Comps Up; First Quarter Gain in Nearly Three Years

JCPenney_2014_Classic

PLANO, Texas-For the first time since the second quarter of 2011, J.C. Penney posted a quarterly same-store sales gain, with same-store sales up 2.1 percent for its fiscal fourth quarter. The department-store retailer added that same-store sales for the combined November-December period rose 3.1 percent over the same period from the previous year. J.C. PenneyMore »

McMillon Takes Command at Walmart

Doug McMillon

BENTONVILLE, Ark.-Doug McMillon has become the fifth president and CEO of Walmart Stores Inc., the parent company of Walmart U.S., Walmart International and Sam’s Club. McMillon, who had been president and CEO of Walmart International, was elected to head the world’s largest retailer by the company’s board in November. He officially began his new rolesMore »