Retail

Burlington Stores Goes from Loss to Profit in Q1

Burlington Stores

BURLINGTON, N.J.-In what its top executive, Tom Kingsbury, termed a quarter of “solid results,” Burlington Stores reversed a net loss of $5.6 million into net income of $11.8 million for its fiscal first quarter ending on May 3. Kingsbury, president, CEO and recently named chairman as well, said the first quarter saw the retailer “buildMore »

Sadove Joins Traub to Launch Traub Accelerator

Stephen Sadove

NEW YORK-Marvin Traub Associates has named Stephen Sadove, former Saks chairman and CEO, to introduce the Traub Accelerator, a new division targeted to grow innovative technologies, concepts and platforms in the retail  and consumer industries. In his new role, Sadove will serve as co-founder and head of Traub Accelerator, and will act as advisor toMore »

Lowe’s Ups Ramsay to IT Chief

Paul Ramsay

MOORESVILLE, N.C.-Paul Ramsay, acting chief information officer for Lowe’s, has been promoted to permanent chief information officer. Ramsay has been acting chief information officer since March. He is responsible for the day-to-day operations of Lowe’s IT organization, including the development of a technology portfolio that supports the operations of the company’s stores, distribution network, e-commerceMore »

Icahn Buys Block of Family Dollar Shares

Carl Icahn

NEW YORK-Investor Carl Icahn has purchased about 9.4 percent of Family Dollar’s common stock through some of his affiliate companies. According to a filing by Icahn with the U.S. Securities and Exchange Commission, the investor bought the shares “in the belief that they were undervalued.” The filing went on to cite a number of similarMore »

Dollar General to Enter Three New States

Dollar General

GOODLETTSVILLE, Tenn.-Dollar General will establish its first presence in Maine, Oregon and Rhode Island with store openings within the next year. The dollar-store retailer will begin construction on stores in Maine and Rhode Island this fall, and will expand into Oregon in early 2015. Once these stores are open, Dollar General will have locations inMore »

Import Volume Set for Jump in June

Container Port

WASHINGTON-With a potential strike by West Coast dockworkers on the horizon, retailers are expected to rush high quantities of merchandise through the major U.S. container ports in June, according to the most recent Global Port Tracker report issued by the National Retail Federation and Hackett Associates. This month is expected to bring a 7.5 percentMore »

Penner Named Walmart Board Vice Chairman

Greg Penner

BENTONVILLE, Ark.-Walmart’s board of directors has appointed Greg Penner vice chairman of the board, a newly created, non-executive position. Penner, general partner of investment management firm Madrone Capital Partners, has served on Walmart’s board since 2008. Prior to joining Madrone, he served as Walmart’s senior vice president and chief financial officer for Japan, and seniorMore »

Sears Hometown and Outlet Net Falls in Q1

SearsHometownAndOutlet

HOFFMAN ESTATES, Ill.-Lagging sales, especially for comparable stores, led to a 75.5 percent dropoff in first-quarter net income for Sears Hometown and Outlet Stores, to $3.7 million. Net sales in the quarter, which ended on May 3, were down 1.9 percent to $589.9 million. Same-store sales for the company as a whole fell 6.2 percent,More »