May 21, 2013

AutoZone reported net sales of $2.2 billion for third quarter fiscal 2013, representing a 4.5% increase from $2.1 billion during the same period in fiscal 2012.

Memphis – AutoZone reported net sales of $2.2 billion for third quarter fiscal 2013, representing a 4.5% increase from $2.1 billion during the same period in fiscal 2012. Meanwhile, net income increased almost 7% from $248.6 million to $265.6 million. Same store sales experienced a slight 0.1% dip compared to third quarter fiscal 2012.

May 21, 2013

Best Buy reported a net loss of almost 10% for first quarter fiscal 2014, seeing its revenue drop from roughly $10.34 billion the prior year to $9.38 billion.

Minneapolis – Best Buy reported a net loss of almost 10% for first quarter fiscal 2014, seeing its revenue drop from roughly $10.34 billion the prior year to $9.38 billion. Increased price competition and the closure of 49 large-format stores contributed to the electronics retailer’s decline in revenue. A shift in the Super Bowl, which typically drives TV sales, to the prior quarter and reduced non-core sales also impacted revenue.

May 21, 2013

Although Dick’s Sporting Goods reported a year-over-year increase in revenues for first quarter 2013, performance still fell short of Wall Street expectations.

Pittsburgh – Although Dick’s Sporting Goods reported a year-over-year increase in revenues for first quarter 2013, performance still fell short of Wall Street expectations. The sporting goods retailer reported first quarter revenues of $1.33 billion, a 4% increase from $1.28 billion. However, analysts expected revenues for the quarter to total $1.36 billion.

Net income grew 13%, from $57.2 million to $64.8 million.

May 21, 2013

Footwear/accessories retailer DSW Inc. opened a new store in Braintree, Mass., on May 18.

Columbus, Ohio – Footwear/accessories retailer DSW Inc. opened a new store in Braintree, Mass., on May 18. The new store is located at 250 Granite Street.

DSW currently operates 377 stores in 42 states, the District of Columbia and Puerto Rico.

 

May 21, 2013

Family Dollar presented its annual Strategic IT Partner of the Year award to Trade Area Systems at its IT Strategic Partner.

Matthews, N.C. – Family Dollar presented its annual Strategic IT Partner of the Year award to Trade Area Systems at its IT Strategic Partner last month. In September 2012, Family Dollar implemented the Trade Area Systems TAS Unity solution to give real estate managers mobile access to a database of real estate photos, comments and other relevant data.

May 21, 2013

Menlo Park, Calif. - Google will close down its Google Checkout online payment service for good in November of this year. The online service and technology provider says the move is part of a broader transition to its Google Wallet multichannel commerce platform.

May 21, 2013

The Home Depot reported sales of $19.1 billion during first quarter fiscal 2013, a 7% increase from $17.8 billion in the same quarter of 2012.

Atlanta – The Home Depot reported sales of $19.1 billion during first quarter fiscal 2013, a 7% increase from $17.8 billion in the same quarter of 2012. Home Depot credited $574 million of this $1.3 billion increase to the addition of an extra week to the first quarter of this year. Net earnings rose 20%, from $1 billion to $1.2 billion.

May 21, 2013

Real estate development firm Kemper Freeman is moving ahead with a $1.2 billion expansion of The Bellevue Collection, a regional shopping center located in Bellevue, Wash.

Bellevue, Wash. – Real estate development firm Kemper Freeman is moving ahead with a $1.2 billion expansion of The Bellevue Collection, a regional shopping center located in Bellevue, Wash. The expansion will add two million sq. ft. of retail, office, hotel, residential, dining and entertainment space.

May 21, 2013

Urban Outfitters, Inc. reported stronger than expected net sales, which drove a 39% increase in net earnings.

Philadelphia – Urban Outfitters, Inc. reported stronger than expected net sales, which drove a 39% increase in net earnings. The specialty retailer reported record total net sales of $648 million during first quarter fiscal 2014, up 14% from $568 million in the same quarter last year. Net earnings for the quarter were $47 million, higher than analyst expectations and up 39% from first quarter fiscal 2013.

May 21, 2013

By George Hoffman, FineLine Technologies, Inc.

By George Hoffman, ghoffman@finelinetech.com
 

May 21, 2013

The National Retail Federation (NRF) is formally opposing the proposed settlement of a federal antitrust lawsuit brought by 19 trade associations and six retailers in 2005.

Washington, D.C. – The National Retail Federation (NRF) is formally opposing the proposed settlement of a federal antitrust lawsuit brought by 19 trade associations and six retailers in 2005. The lawsuit involves “swipe fees” charged for credit card transactions by Visa and Mastercard. Retailers that agree to settlement terms are eligible for a share of a $7.25 billion settlement.

May 21, 2013

Today’s shoppers are more price-conscious and in search of deals than ever before, according to a new study from digital rewards provider Parago.

Lewisville, Texas – Today’s shoppers are more price-conscious and in search of deals than ever before, according to a new study from digital rewards provider Parago.

May 21, 2013

Pinterest, the social sharing network that many retailers use to promote products, is allowing users to share more information with their pins. Pins may now include data such as pricing, availability and where to buy products, recipe information and detailed information about movies.

San Francisco – Pinterest, the social sharing network that many retailers use to promote products, is allowing users to share more information with their pins. Pins may now include data such as pricing, availability and where to buy products, recipe information and detailed information about movies.

So far, retailers including Home Depot, Anthropologie, eBay, Neiman Marcus, Nordstrom and Wal-Mart are partnering with Pinterest to make more product information available on pins originating from their e-commerce sites.

 

May 21, 2013

Almost all of the top 100 public retailers (97%) consider federal, state and local regulations as a risk factor, according to a new analysis of 10K filings from the largest 100 U.S. public retailers by BDO, LLP.

Chicago – Almost all of the top 100 public retailers (97%) consider federal, state and local regulations as a risk factor, according to a new analysis of 10K filings from the largest 100 U.S. public retailers by BDO, LLP. Only general economic conditions (100%) was cited by more retailers, and this marks the highest percentage of public retailers citing regulations as a risk in the seven years BDO has been performing this analysis.

May 21, 2013

Saks Incorporated reported a roughly 5% increase in total sales between first quarter 2012 and first quarter 2013, although net income dropped during that same time period.

New York – Saks Incorporated reported a roughly 5% increase in total sales between first quarter 2012 and first quarter 2013, although net income dropped during that same time period. Total sales for the first quarter of this year were $793.2 million, up from $753.6 million in the first quarter of last year. However, net income of $20 million for first quarter 2013 was down close to 40% from $32.7 million for first quarter 2012. Same store sales increased 5.9%.

May 21, 2013

Target opened a new Technology Innovation Center in San Francisco, on May 20.

San Francisco – Target opened a new Technology Innovation Center in San Francisco, on May 20. The center, located in shared space with the digital marketing agency SapientNitro, employs about 20 people, including some shared SapientNitro employees. Target will use the center to develop mobile and e-commerce services, allowing it to better compete with online-savvy rivals such as Amazon.com.

May 21, 2013

Target Corp. is testing a video streaming service with internal employees.

Minneapolis – Target Corp. is testing a video streaming service with internal employees. Called Target Ticket beta, the service features 15,000 movies and TV shows for digital download.

The service, which is password-protected, presumably is designed to compete with Netflix and Hulu, among other digital video platforms.

 

May 21, 2013

The TJX Companies, Inc. reported increased net sales during first quarter fiscal 2014.

Framingham, Mass. – The TJX Companies, Inc. reported increased net sales during first quarter fiscal 2014. Revenue rose almost 7% from the same quarter a year earlier to about $6.2 billion, while same store sales grew 2% on top of an 8% increase from last year. Net earnings totaled $453 million.

CEO Carol Meyrowitz said that a flexible business model allowed TJX to have a profitable quarter despite adverse weather conditions. “Flowing the right merchandise at the right time continued to be key to strong merchandise margins,” she said.

May 21, 2013

Tommy Bahama is employing the IT Service Automation Application Suite from cloud-based IT services provider ServiceNow to automate IT functions such as incident management, change management, problem management, configuration management database and service catalog.

San Diego – Tommy Bahama is employing the IT Service Automation Application Suite from cloud-based IT services provider ServiceNow to automate IT functions such as incident management, change management, problem management, configuration management database and service catalog. The specialty apparel brand is also using the SaaS-based Orchestrate solution from ServiceNow to streamline the hiring and training process.

May 20, 2013

American Sportswear, a Panama-based wholesaler and retailer that exclusively distributes the Tommy Hilfiger brand for most of Latin America and the Caribbean, is utilizing the LogFire extended warehouse management solution.

Atlanta -- American Sportswear, a Panama-based wholesaler and retailer that exclusively distributes the Tommy Hilfiger brand for most of Latin America and the Caribbean, is utilizing the LogFire extended warehouse management solution.

With the cloud-based warehouse and inventory management capabilities of LogFire technology, American Sportswear will manage its multichannel distribution network, retail store replenishments and in-store inventory management.

May 20, 2013

D’Agostino Supermarkets is partnering with online discount provider Aisle50 to offer exclusive deals and discounts on national and local grocery, and consumer packaged goods brands.

NEW YORK — D’Agostino Supermarkets is partnering with online discount provider Aisle50 to offer exclusive deals and discounts on national, local grocery and consumer packaged goods brands.

May 20, 2013

Macy’s plans to close a store located in downtown St. Louis at the Railway Exchange Building on Olive Street, with a final clearance sale beginning Sunday, June 2 that is expected to last about 10 weeks.

Cincinnatti -- Macy’s plans to close a store located in downtown St. Louis at the Railway Exchange Building on Olive Street, with a final clearance sale beginning Sunday, June 2 that is expected to last about 10 weeks. Macy’s plans to continue operating its other eight stores in the Greater St. Louis area.

May 20, 2013

Shopping malls continue to be popular with consumers because they offer hands-on shopping experience, according to results of a new survey from Glimcher Retail Monitor.

COLUMBUS, Ohio — Shopping malls continue to be popular with consumers because they offer hands-on shopping experience, according to results of a new survey from Glimcher Retail Monitor. Consumers cite reasons such as ability to try on clothes and accessories (74%), the shopping experience (55%) and store variety (49%) for going to the mall.

May 20, 2013

Men’s Wearhouse will tailor email campaigns to individual shoppers using personalized email marketing technology from CQuotient.

CAMBRIDGE, Mass. — Men’s Wearhouse will tailor email campaigns to individual shoppers using personalized email marketing technology from CQuotient. The solution will allow Men’s Wearhouse to capture data across consumer touchpoints and use predictive algorithms to target customers with individualized email messaging.

May 20, 2013

Almost three in 10 (28%) of North American retailers plan to adopt mobile POS technology by the end of the year, according to a new study from IHL Group.

Franklin, Tenn. -- Almost three in 10 (28%) of North American retailers plan to adopt mobile POS technology by the end of the year, according to a new study from IHL Group.

Results of “Mobile POS: Hype to Reality” also indicate that 45% of all tablet POS shipments go to specialty retailers, mobile POS solutions will cannibalize about 12% of traditional retail POS shipments by 2016 and more than 85% of larger retailers say that in the next three years mobile POS systems will complement, rather than replace, traditional POS systems.