Research Topic

CINCINNATI — Macy’s reported increases in sales and income for the first quarter of 2013 compared to the same period a year earlier, despite cool weather that delayed spring shopping in key markets. Net income was $217 million, a 20% hike from $181 million in the year-ago period.  

While net income slightly beat analyst predictions, same-store sales rose 3.8%, short of the 4.3% expected by analysts. Net sales totaled $6.39 billion, up 4% from $6.14 billion in the year-ago period.

Washington, D.C. -- Import volume at the nation’s major retail container ports is expected to increase 3.3% in May over the same month last year, but growth could trickle to a standstill by the end of the summer, according to the monthly Global Port Tracker report released Tuesday by the National Retail Federation and Hackett Associates.

New York -- Cache reported Tuesday a loss of $18.5 million for the first quarter, widened from a loss of $1.2 million in the same quarter last year. An income tax provision of $10.2 million and employee separation costs were cited as reasons for the worsened performance.

Revenue declined 5% percent to $53.5 million from $56 million, and same-store sales dipped 1.5%.

Los Angeles -- CBRE Group released research findings on Tuesday that showed Hong Kong’s continued top position as the world’s most expensive global retail market, recording prime rents nearly 150% higher than New York City.

London ranked third, with prime rental rates 400% lower than Hong Kong’s.

New York -- A Tuesday report by Reuters said that J.C. Penney Co.’s real estate holdings – including stores, DCs and headquarters – are worth a total of $4.06 billion.

An appraisal was conducted for Penney and subsequently disclosed in a presentation to potential lenders that was also filed with U.S. regulators.
 

New York – In what could be bad news for retailers, “mass affluent” consumers (those with $50,000 to $250,000 in investable assets) and Gen Y (age 18-34) are cutting back on spending to save for retirement. According to the Spring 2013 Merrill Edge Report, the average mass affluent investor expects to save $860,000 for retirement but has only saved $150,000. If given an extra $1,000 per month, 50% of mass affluent consumers would put it toward savings or paying down debt.

Washington, D.C. -- Total retail sales increased 0.1% in April from March, according to figures released Monday by the U.S. Commerce Department. The increase, an improvement from a 0.5% decline in March, beat the 0.3% drop economists had predicted in a Bloomberg survey.  

Excluding automobiles, gas stations and restaurants, sales  increased 0.6% seasonally adjusted from last month and increased 3.9% unadjusted year-over-year, according to the National Retail Federation.

Reston, Va. -- E-commerce sales grew 13% year-over-year to $50.2 billion, marking the fourteenth consecutive quarter of positive year-over-year growth and tenth consecutive quarter of double-digit growth, according to comScore. It was also just the second quarter on record to surpass $50 billion in spending.

The survey also revealed that nearly half (48%) of time spent in the retail category occurred on mobile devices, with smartphones (34%) outpacing tablets (14%).

Abilene, Kan. – Discount retailer Alco Stores blamed the impact of cold weather across the Midwest for helping to produce sluggish sales performance during fiscal first quarter 2013. Alco Stores reported sales of continuing operations excluding fuel of $116 million, up 0.9% from $114.9 million during the same period in 2012. Same-store sales excluding fuel were down 2.2%.

Toronto – Continuing income growth means today’s Canadian youth will assume more spending power than their parents currently have during the course of their lifetimes, according to a new report from BMO Economics. The report cites ongoing gains in real media income and compensation, as well as expected future decreases in unemployment, in making this rosy forecast.