Adverse weather in many of Pier 1 Imports’ major markets has continued to plague the home furnishings retailer, prompting president and CEO Alex W. Smith to update fourth-quarter and full-year expectations.
Walmart knew fourth quarter results announced Thursday morning were going to be bad and its outlook weak so it gave investors something more substantial to digest by announcing plans to double the number of small format stores it will open this year and an increased omnichannel focus.
The Container Store is marking Valentine’s Day with the launch of its Employee First Fund — an employee assistance fund that will provide grants to employees experiencing unforeseen emergencies, a major medical situation, a catastrophic event or other challenges in life that they are not financially prepared to handle.
Kirkland’s reported improved year-over-year net sales for the full fiscal year 2014 but a decrease in the fourth quarter, thanks to severe weather-related declines in traffic throughout December, which affected important weekend sales days.
Shopko is leveraging social media to tout its expanded brand assortment. The retailer is holding an eight-week Facebook giveaway offering participants a chance to win prize packages featuring some of the national brands it carries.
The weather posed a significant challenge for Fred’s in January. According to CEO Bruce A. Efird, Mother Nature not only disrupted consumer shopping patterns, but also resulted in more than 120 store closings during the final week of the month.
Bad weather and a reduction in food stamps led to weaker-than-expected sales at Walmart and Sam’s Club, which combined with greater-than-expected international expense, prompted an uncharacteristic pre-announcement from the company that fourth quarter profits would be worse than expected.
The Michigan Retailers Association (MRA) said that Michigan's retail industry had a poor holiday shopping season thanks to damaging winter storms and “outdated government policies that favor out-of-state online companies.”
Sean Mayo, former director of strategic partnerships for Simon Business Ventures, part of Simon Property Group’s (SPG) marketing and business development arm, has been promoted to regional director of marketing, east region of The Mills portfolio.