Content about Industry

March 13, 2013

Hot Topic reported net income in the fourth quarter ended February 2, 2013, of $12.1 million, up from $9.0 million in the year-ago period.

City of Industry, Calif. -- Hot Topic reported net income in the fourth quarter ended February 2, 2013, of $12.1 million, up from $9.0 million in the year-ago period.

Total sales for the fourth quarter increased 11.0% to $233.0 million, compared to $209.9 million last year. Total same-store sales increased 2.6%. (Due to the 53rd week in fiscal 2012, fourth quarter comparable sales are compared to the corresponding 14 week period ended February 4, 2012.)

March 7, 2013

Hot Topic announced it has agreed to be acquired by New York-based private equity firm Sycamore Partners for $14.00 per share in cash, or a total of approximately $600 million.

City of Industry, Calif. -- Hot Topic announced it has agreed to be acquired by New York-based private equity firm Sycamore Partners for $14.00 per share in cash, or a total of approximately $600 million.

The agreement, unanimously approved by Hot Topic’s board of directors, represents a premium of approximately 30% over Hot Topic’s closing stock price on March 6, 2013.

January 22, 2013

Hot Topic announced that its chief financial officer, Jim McGinty, has resigned, effective March 29.

City of Industry, Calif. -- Hot Topic announced that its chief financial officer, Jim McGinty, has resigned, effective March 29. The company said that George Wehlitz, VP finance will serve as interim CFO.

McGinty had worked for Hot Topic Inc. for the past 12 years. His resignation is effective March 29.

Wehlitz became VP finance at Hot Topic in 2008. He previously served as CFO at motorcycle clothing and accessories company Cycle Gear Inc.

May 29, 2012

Ashley Furniture Industries Inc. plans to open about 50 bedding stores, under the Zzz's By Ashley banner, in 2012, according to Furniture Today.

New York -- Ashley Furniture Industries Inc. plans to open about 50 bedding stores, under the Zzz's By Ashley banner, in 2012, according to Furniture Today. The sleep shops will average about 4,500 sq. ft. each, and will offer a wide selection of mattresses and sleep accessories.

“I think we can open several thousand in the next 10 years,” Ben Thorud, the Ashley executive who is heading the new initiative, told Furniture Today.

April 20, 2012

The Hodgdon Group said it has completed construction on the conversion of a Circuit City building in Laguna Hills, Calif., for the grand opening of an Ashley Furniture HomeStore on Friday, April 20. 



Laguna Hills, Calif. -- The Hodgdon Group said it has completed construction on the conversion of a Circuit City building in Laguna Hills, Calif., for the grand opening of an Ashley Furniture HomeStore on Friday, April 20. 



The former Circuit City building was expanded to make way for a fully remodeled 51,000-sq.-ft. retail building, which includes the new 33,000-sq.-ft. Ashley Furniture HomeStore plus Total Wine & More in the remaining 18,000 sq. ft.

December 20, 2011

The Hodgdon Group, a full-service real estate brokerage, development and construction firm, announced that it has completed construction on the conversion of the former Levitz building at Northridge Fashion Center in Northridge, Calif., for the opening of an Ashley Furniture HomeStore.

Colton, Calif. -- The Hodgdon Group, a full-service real estate brokerage, development and construction firm, announced that it has completed construction on the conversion of the former Levitz building at Northridge Fashion Center in Northridge, Calif., for the opening of an Ashley Furniture HomeStore.

Hodgdon-Miank Construction served as the full-service design-build contractor and completed the major renovation of the 34,000-sq.-ft. Ashley store. This is the 12th Ashley HomeStore to open, which has been completed by the Hodgdon Group.
 

December 1, 2011

Cross-channel merchandise planning and assortment solution provider 7thonline said that sports brand Oakley has selected 7thonline Merchandise and Assortment Management to increase the productivity of its inventory and merchandising process.

New York City -- Cross-channel merchandise planning and assortment solution provider 7thonline said Thursday that sports brand Oakley has selected 7thonline Merchandise and Assortment Management to increase the productivity of its inventory and merchandising process.

The solution includes merchandise financial planning, visual and analytical assortment planning, in-season OTB management and forecasting, and embedded business intelligence, based on powerful optimization engines.

November 17, 2011

Hot Topic Inc. reported Wednesday that profit rose to $3.1 million in the quarter ended Oct. 29, compared with $400,000 in the year-ago period.

City of Industry, Calif. -- Hot Topic Inc. reported Wednesday that profit rose to $3.1 million in the quarter ended Oct. 29, compared with $400,000 in the year-ago period. Prior-year results were weighed down by charges from its ShockHound website, which folded.

Revenue fell 4% to $175.8 million from $183.2 million in the quarter, missing Wall Street’s expected $177.8 million in revenue.

Same-store sales dipped 1.6% at Hot Topic and Torrid stores, attributed to disappointing Halloween sales.
 

October 6, 2011

Hot Topic said Wednesday that Mark Mizicko has joined the company as its senior VP planning and allocation.

City of Industry, Calif. -- Hot Topic said Wednesday that Mark Mizicko has joined the company as its senior VP planning and allocation.

Mizicko will lead the merchandise planning and allocation teams for both the Hot Topic and Torrid brands. He most recently served as VP marketing and logistics for Gymboree.
 

August 18, 2011

Hot Topic reported Wednesday that it tightened its loss in the second quarter to $6.2 million, compared with a loss of $6.3 million a year earlier.

City of Industry, Calif. -- Hot Topic reported Wednesday that it tightened its loss in the second quarter to $6.2 million, compared with a loss of $6.3 million a year earlier.

Revenue edged up to $150.9 million from $150 million. Same-store sales rose 2.6% for quarter.

Hot Topic said it will open 25 to 45 Torrid stores in fiscal 2012. It also plans to close 10 to 20 Hot Topic stores and about five Torrid stores next year, and remodel or relocate 40 to 50 Hot Topic stores and 10 to 20 Torrid stores.
 

July 6, 2011

Hot Topic reported Wednesday that its June same-store sales year rose 0.4%. Analysts, on average, had expected same-store sales to fall 2.4%, according to Thomson Reuters.

City of Industry, Calif. -- Hot Topic reported Wednesday that its June same-store sales year rose 0.4%. Analysts, on average, had expected same-store sales to fall 2.4%, according to Thomson Reuters.

Total sales for the five weeks ended July 2 fell 1.8% to $58 million.
 

June 20, 2011

Retailers that sell gasoline have long been challenged to maintain margins and reduce costs related to retains and run-outs and other operating expenses. It’s even more of a priority today, given the volatile fuel market and increased competitive pressures. 


May 10, 2011

Weiss Markets has selected Retalix's Demand-Driven Replenishment solution to optimize its overall in-stock position and reduce excess inventory and out-of-stocks in its stores.

Dallas -- Weis Markets has selected Retalix's Demand-Driven Replenishment solution to optimize its overall in-stock position and reduce excess inventory and out-of-stocks in its stores.

“We wanted a system that could provide demand-based forecasting and replenishment and assist us in optimizing our inventory. Retalix's Demand-Driven Replenishment solution was the ideal fit," said Bob Mawyer, VP of information technology at Weis Markets, Sunbury, Pa., which operates 164 stores.

March 30, 2011

Retalix announced Wednesday that c-store chain Family Express has selected the Retalix Demand-Driven Replenishment solution to reduce out-of-stocks, enhance the quality of its center-of-store product and fresh product offerings, and optimize its inventory position.

Dallas -- Retalix announced Wednesday that c-store chain Family Express has selected the Retalix Demand-Driven Replenishment solution to reduce out-of-stocks, enhance the quality of its center-of-store product and fresh product offerings, and optimize its inventory position.

“Retalix’s Demand-Driven Replenishment solution offers one of the most robust, feature-rich systems on the market, and the depth of its intuitive analytics made our decision very easy,” said said Bill Nolan, VP marketing of Valparaiso, Ind.-based Family Express.

March 22, 2011

Hot Topic announced Monday that CEO Betsy McLaughlin has resigned the company, effectively immediately, and will be replaced by current board member Lisa Harper.

City of Industry, Calif. -- Hot Topic announced Monday that CEO Betsy McLaughlin has resigned the company, effectively immediately, and will be replaced by current board member Lisa Harper.

The move came two weeks after the company announced a fourth-quarter net loss, reversing a profit from a year ago, as revenue slipped by 1%.

According to the retailer, McLaughlin will continue to assist in the transition over the next three months.

March 7, 2011

In recent years, real-estate portfolio optimization has become standard practice for retailers, and with it, so, too, have store closings. Oftentimes, the closings result from retailers’ desire to relocate stores to improve their position within a market as leases come up for renewal. Or they may result from the necessity to move to a smaller or larger footprint. In other instances, a location may be underperforming the rest of the chain. 


February 22, 2011

VendorNet, a provider of cross-channel fulfillment technology, said that international footwear designer and retailer, Stuart Weitzman will launch VendorNet's StoreNet Ship-from Store software to integrate its store inventory for e-commerce sales and fulfillment to save sales on the web and in stores.

Boynton Beach, Fla. -- VendorNet, a provider of cross-channel fulfillment technology, said that international footwear designer and retailer, Stuart Weitzman will launch VendorNet's StoreNet Ship-from Store software to integrate its store inventory for e-commerce sales and fulfillment to save sales on the web and in stores.

February 1, 2011

Hot Topic said Monday that Chris Daniel, president of the company’s plus-size Torrid division, has resigned effective April 29.

City of Industry, Calif. -- Hot Topic said Monday that Chris Daniel, president of the company’s plus-size Torrid division, has resigned effective April 29.

The company has named Betsy McLaughlin as interim head of Torrid upon Daniel’s departure, and said it will conduct an outside search for a permanent replacement.

January 19, 2011

RedPrairie Corp., a productivity solutions provider, announced that it has finalized the acquisition of SofTechnics, a leading provider of integrated retail enterprise solutions that has been serving customers for more than 20 years.

Atlanta -- RedPrairie Corp., a productivity solutions provider, announced that it has finalized the acquisition of SofTechnics, a leading provider of integrated retail enterprise solutions that has been serving customers for more than 20 years.     

December 20, 2010

Colton, Calif.-based Hodgdon Group said Monday it has completed the conversion of the former Circuit City for an Ashley Furniture HomeStore in downtown Burbank, Calif.

Burbank, Calif. - Colton, Calif.-based Hodgdon Group said Monday it has completed the conversion of the former Circuit City for an Ashley Furniture HomeStore in downtown Burbank, Calif.

Hodgdon Realty Group negotiated the 31,000-sq.-ft. lease for Ashley Furniture with Crown Realty & Development Inc. of Irvine, Calif. Hodgdon-Miank Construction served as the full-service design-build contractor and completed the major renovation for a new Ashley Furniture HomeStore.

October 24, 2010

Inland Empire-based Hodgdon-Miank Construction said it has completed a major renovation at the Long Beach...

October 5, 2010

Hot Topic said late Wednesday that September same-store sales declined 2.6%....

October 3, 2010

Chief financial officers at leading U.S. retailers expect a 1.95% increase in overall sales for...

September 28, 2010

Philadelphia-based Metro Commercial Real Estate said it has negotiated a lease for Ashley Furniture to...

September 13, 2010

Colton, Calif.-based Hodgdon-Miank Construction said it has completed a major renovation of the former Circuit...