Research Topic

The drought’s effect on fresh produce in California and the timing of this year’s Easter holiday adversely affected 99 Cents Only Stores’ comparable-store sales in the first quarter of fiscal 2015.

Same-store sales decreased 0.5%, calculated on a comparable 13-week period of the prior year. The company reported net sales of $477.9 million, an increase of 7% from $445.2 million in the first quarter of fiscal 2014.

Boston — A joint committee of the Massachusetts state House of Representatives and Senate has filed a bill to gradually raise the state’s minimum wage from its current hourly rate of $8 to $11. The increase would occur in stages until reaching $11 in 2017.

A study conducted by DHL e-commerce that compares consumer behavior across 20 markets has created a detailed look into how people shop around the world.

The “Shop the World” survey, which uses data from some 11,000 respondents, shows the growing prominence and earning potential of ecommerce and distance selling operations in different countries.

Washington, D.C. — Consumer spending rose 0.3% in May, marking four consecutive months of rising U.S. retail sales.

The Commerce Department reported Thursday that May results were boosted by strength from the auto sector, which recorded a 1.4% sales increase during the month. U.S. retail sales rose 0.5% in April and 1.5% in March.

Corte Madera, California — Furniture and housewares retailer Restoration Hardware reported a profit of $1.8 million in the quarter ended May 3, compared with a loss of $161,000 last year. Results topped Wall Street expectations and prompted the company to raise its outlook for the year.

Revenue grew 22% to $366.3 million, from $301.3 million in the year-ago period. Wall Street predicted $346.7 million.
 

Indianapolis — In a finding that may not surprise some of their elders, Millennials share complaints online two times more than Gen X and three more than Boomers. “The Social Media Behaviors of Millennials, Gen X & Boomers,” the latest study from consultative social media research firm Fizzilogy firm, also explores the social media habits of these three generations.

Key findings include:
Millennials
•    Millennials live-tweet sporting events at more than twice the rate of both Boomers and Gen Xers.

Brussels, Belgium — The European Union (E.U.) is investigating lucrative tax breaks individual member countries such as Ireland, the Netherlands and Luxembourg have been giving major global companies including Starbucks and Apple. Media reports indicate the E.U. is focusing on whether certain tax loopholes these countries have provided some corporations qualify as “state aid,” which is prohibited under E.U. bylaws.

Atlanta — Consumer spending in the United States grew 4.2% year-over-year in May 2014, compared to April’s 4.1% year-over-year growth. According to Spend Trend analysis from First Data Corp., spending growth was driven by May’s warm weather, which specifically spurred spending on travel and home improvement.