Strategy

Has anyone else noticed that more and more consumers seem to be “cross-shopping” than ever before? I’m talking about those people who shop both the high-end luxury retailers and the discount or even dollar stores. I recently read an article that indicated one-quarter of all Nordstrom shoppers also shop at the Dollar Store. And, I started to ask myself if this trend is here to stay.
 

New York -- Shoppers in the United States earning at least $150,000 annually rank Nordstrom highest among luxury retailers, according to a survey by the Luxury Institute.

According to the 2012 Luxury Consumer Experience Index, which ranks retailers based on customers' evaluations of a brand's store personnel, shopping environment and degree of satisfaction with the total experience, Nordstrom earns the top overall score of 8.41 out of 10.

Bergdorf Goodman ranked second (8.37), and Barneys New York third (8.23).

North Bergen, N.J. -- Vitamin Shoppe reported Tuesday that net income for the quarter ended March 31 rose to $18.3 million, from $11.6 million in the same period last year.

Sales surged 14.4% to $248.1 million, boosted by a strong 9.6% rise in same-store sales. E-commerce sales rose 15.5% in the quarter.

The vitamin retailer said it plans to open 52 new stores in fiscal 2012.
 

NAPERVILLE, Ill. — Charges related to store closures in the United States caused OfficeMax's first quarter net income to drop from $4.9 million, or 6 cents per diluted share, compared with $11.4 million, or 12 cents per diluted share, in the first quarter of 2011. Adjusting for these charges, net income for the quarter was $20.3 million, or 23 cents per diluted share, compared with $11.4 million, or 13 cents per diluted share for the same period last year.

Ontario -- Ikea said Tuesday that it has begun construction on the expansion of its current Montreal store to what will be its largest store in North America.

Set to be complete summer 2013, the new Ikea Montreal will be 469, 694 sq. ft. and will feature expanded inventory and services such as a 600-seat restaurant and 1,400+ parking spots.

Philadelphia -- Management consulting firm Hay Group reported Tuesday that employee turnover levels in the retail industry are on the rise.

According to a new survey from Hay Group, an improving job market and solid first quarter sales are impacting turnover. Retailers report a median turnover rate of 67% for part-time store workers, a 33% increase over 2011. One in five retailers report that they have experienced more turnover in the first part of 2012.

Naperville, Ill. -- OfficeMax Inc. reported Tuesday that net income for the quarter ended March 31 slid to $4.9 million, compared with $11.4 million in the year-ago period. Results were hampered by charges related to U.S. store closures.

Total sales edged up 0.5% to $1.9 billion. In the retail segment, sales dipped 2.7% to $912.3 million; same-stores sales fell 2.1%.

SANTA FE SPRINGS, Calif. — Weber Logistics, a third party logistics company in the Western United States, has named former Target human resources manager, Sheila Jordan, as its new VP human resources. Jordan will report to Weber’s CEO, Harry Drajpuch, and be responsible for all human resource-related activities, including hiring, training, associate development and administration, for employees across Weber’s 17 distribution centers and freight terminals.