Strategy

What’s wrong with America? Plenty, according to the National Retail Federation which just slashed its full year retail sales forecast ahead of second quarter earnings announcements from major retailers next month.

Commerce, Calif. – Smart & Final Stores Inc. reported net income of $11 million in the second quarter of fiscal 2015, essentially flat compared to $11.1 million in the year-earlier period. Higher expenses related to higher sales volumes, increased store support costs, additional marketing expense, and public company costs inhibited profit growth.

Washington, D.C. - The National Retail Federation (NRF) is now a little less rosy in its sales expectations for 2015. The NRF has lowered its full-year retail sales forecast because of unexpected slow growth recorded during the first half of the year, similar to the industry’s experience in 2014.

However, NRF still expects sales will steadily increase through the remainder of the year. NRF forecasted in February that retail sales would grow 4.1% in 2015 from 2014, but today’s revision lowers the forecast to 3.5%.

New York - Elizabeth Arden Inc. has named JuE Wong as president, Elizabeth Arden brand, effective Aug. 3. Wong was previously CEO of StriVectin and Astral Brands and also held several leadership positions for brands including N.V. Perricone, M.D. Cosmeceuticals and Murad.

In addition, Elizabeth Arden has signed a joint venture agreement with Asian prestige beauty distributor Luxasia Ventures Pte Ltd for the Southeast Asia region. Elizabeth Arden expects to commence operations in the first fiscal quarter of fiscal 2016

Macy's Inc. is expanding same-day delivery to several new U.S. markets this summer, according to Reuters.

The news service says a Macy's official said that the initial plan is to offer the service in so many markets that it could get ahead of Amazon — which currently offers same-day delivery in 14 markets.

Currently, Macy’s is offering the service in Houston, San Francisco, San Jose, Seattle, Washington DC, Chicago, Los Angeles and New Jersey. 

Neckarlsum, Germany — German discount grocer Lidl is applying business intelligence technology to its planned expansion into the U.S.

Lidl, which operates nearly 10,000 stores and 130 distribution centers across 26 countries, will use solutions based on the SAP HANA business intelligence platform to support its IT strategy for entering the U.S. market.

The Home Depot Inc. is spending about $1.6 billion in an acquisition squarely aimed at better meeting the needs of its professional customers.

Bassett, Va. - Bassett Furniture Industries Inc. has named Ann Zaccaria has joined the organization as VP, real estate and new store development. She will be responsible for site selection, lease negotiation and store planning for new Bassett retail locations.

Zaccaria served as VP, real estate with Ethan Allen Interiors for the last 22 years.

Bassett Furniture is a manufacturer and marketer of mid-priced home furnishings with 92 company- and licensee-owned stores.