After several weeks of retailers reporting less than spectacular fourth quarter and full year sales, it's a pleasure to note that some stores did quite well – and plan to expand.
Home appliances retailer Conn's reported a comp-store sales increase of 26.5 percent for fiscal 2014, with a 33.4 percent increase in the fourth quarter. The company opened 14 new locations last year, and plans 15 to 20 new stores this year.
“Our business model demonstrated its strength and resilience despite the challenges from portfolio growth and weather in our credit operation in the fourth quarter,” said Theodore M. Wright, Chairman and CEO.
Newly public fashion company Vince, which posted 20.6 percent comp-store increases over fiscal 2012, reported its 17th consecutive quarter of comp-store gains. The company will open six to eight new stores this year.
"While 2013 was a terrific year, we are even more excited about 2014 as we continue our evolution to becoming a global, dual-gender lifestyle brand,” said CEO Jill Granoff in the announcement.
I would say that the key to success is that retailers are relatively small: Conn's has 80 stores, Vince just 22 full-line stores and six outlets. But Dollar General also reported a healthy increase for a large company, with 2013 comp sales increasing 3.3 percent over fiscal 2012. The company opened 650 stores last year, and plans 700 stores.
And Signet Jewelers, parent of Kay and Jared, plans 75 to 85 new units this year, on top of its integration of Zale Corp. The company posted a fiscal 2014 comp-store sales increase of 4.4 percent overall and 5.2 percent in the United States.
See, someone went shopping over the holidays!
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
