Pier 1 Imports president and CEO Alex W. Smith described fiscal 2014 as a transformational year for the company, emphasizing the company’s continued focus on its ‘1 Pier 1’ strategy, which has evolved its operating model from a broad portfolio of stores to a true omnichannel retail business.
Restoration Hardware Holdings chairman and CEO Gary Friedman lauded the company’s performance in the fourth quarter and fiscal 2013, saying that RH continued to outperform the home furnishings industry by a wide margin.
Hibbett Sports experienced a significant slowdown in January due to significant weather-related store closures and a less favorable sales impact this year from the college football championship game. However, sales trends improved in February as weather patterns normalized and the retailer rolled out its spring assortment.
Genesco chairman, president and CEO Robert J. Dennis said that the company’s overall fourth-quarter results were lower than expected, thanks to inconsistent sales patterns and severe winter storms that affected its key markets.
Although the Home Depot’s overall sales missed analysts' expectations, the retailer said the calendar shift, which resulted in one fewer week in the fourth quarter compared to the prior-year quarter, affected its results.
Cabela's revenue and earnings per share for 2013 grew at a double-digit rate for the fifth consecutive year, according to CEO Tommy Millner. However, despite an 18% increase in net income year-over-year to $80.1 million from $68 million, results for the fourth quarter did not meet the company’s expectations.
Whole Foods Market said total sales for the first quarter ended Jan. 19 climbed 10% to a record $4.2 billion. But those results reportedly missed analysts’ expectations, and the company has lowered its earnings outlook for 2014 as a result.
Dennis Hernreich, EVP, COO and CFO of Destination XL Group, has resigned and board member John E. Kyees has been named interim CFO. In addition, the company has elected Will Mesdag, 60, to its board of directors.
New York & Company CEO Gregory Scott is pleased with the company’s holiday performance. The operator of 514 stores has navigated through what it called a challenging retail environment to build on the momentum it generated in the first three quarters of the year.
Women’s apparel retailer Cato has made its debut into the world of online shopping with the launch of its first ever e-commerce site. The announcement came as the retailer reported holiday sales for the five-week period ended Jan. 4.
A search is underway for a new CEO at Crocs following an investment by private equity firm Blackstone and ongoing sales and profitability challenges which could see the funky footwear maker open fewer stores.
A Dutch arbitration panel has ordered Tiffany & Co. to pay Swatch damages of about $449.5 million plus interest in a breach of contract case dating back to 2011. The dispute stems from Swatch’s claim that Tiffany failed to honor its obligation to develop and sell Swatch watches under the Tiffany name and split the profits.
Rite Aid modestly increased its full year sales forecast following the release of third quarter results and said it will aggressively expand its “Wellness” format as it looks to drive greater growth in 2014.