Dollar General booked a 3.3% increase in fourth-quarter same-store sales and is forecasting 9% sales growth for this year, pulling ahead of rival Dollar Tree. Dollar Tree beat out Dollar General to acquire Family Dollar in 2015, and it's now investing to integrate the chain, improve stores, raise wages and improve employee training.
L.L. Bean has called off a planned data collection project that would have attached sensors to boots and coats and collected data on about a dozen customers who opted to participate. The idea was to study the ways customers used the products after purchase and to determine whether new products were performing properly.
Toys R Us is actively negotiating to sell its operations in Canada as it prepares to close its US stores, the company said. Toy company MGA Entertainment said CEO Isaac Larian and a group of investors have bid to buy the Canadian business, which includes 82 stores and e-commerce operations.
Hennes & Mauritz has rolled out online shopping in India with a full selection of its fashions plus online-only exclusives, the company said. The Sweden-based fast-fashion retailer operates 29 stores in 12 cities in India, and the online launch will expand access to smaller cities.
Online sales at Adidas rose 57% to $1.9 billion last year as the company used a two-pronged approach to reaching online shoe shoppers. The company sells its lower-priced products on Amazon and other marketplaces, while using its own branded mobile apps to sell higher-priced merchandise.
Martha Stewart built her globally recognized lifestyle brand after successful stints as a model and a stockbroker, and she credits her natural optimism for her ability to change and succeed in new ventures. "Her expertise has earned a level of trust with consumers that transcends category," QVC Group Merchandising Chief Doug Howe said.
Southeastern Grocers will restructure its debt and close 94 under-performing stores. The company says the debt savings of $500 million will let it continue to operate nearly 600 stores.
The Security and Exchange Commission's new rule requiring companies to disclose the ratio of CEO compensation to median employee pay will give a skewed picture of the retail industry, NRF President and CEO Matthew Shay writes. Retailers employ a large number of part-time employees, many of whom are gaining their first work experiences, and the high rate of part-time and entry-level salaries will inflate the industry's ratio by an estimated 31%, he writes.
NRF hosted a meeting with a slew of business trade groups this week to explore ideas for reversing the Trump administration's proposal to impose tariffs on a wide range of goods from China. "The prospect of higher tariffs is extremely concerning to businesses, and higher prices for consumer goods are the same as a tax increase on American families," NRF's David French said.
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