Retail

A recovering housing market spells good news for the home and housewares, as seen in Bed Bath & Beyond’s second quarter results for the period ended Aug. 31.

The company reported net earnings of $1.16 per diluted share, or $249.3 million, for the quarter, an increase of 18.4% versus net earnings of $0.98 per diluted share, or $224.3 million, in the same quarter a year ago.  

Memphis -- AutoZone’s net income for the fourth quarter increased 14.7% to $371.2 million, below estimates. The chain also posted its 28th consecutive quarter of double digit growth in earnings per share.

Revenue rose 12% to $3.1 billion, narrowly exceeding expectations. Domestic same-store sales disappointed with a 1% gain.
 

By Joe Easley, Sr. Director, Business Development & Product Strategy, Kobie Marketing

As retailers continue their quest for deepening customer engagement, they’ll often turn to a loyalty program. Yet high membership numbers are deceiving because engagement levels are actually stagnant. This poses the question, are loyalty programs right for every brand? How do brands choose the right strategy for customer engagement and the overall integration of the loyalty program within the brand?

Domestic same-store sales at AutoZone for the fourth quarter ended Aug. 31 increased 1% — below expectations. The company did have reason to ride high, however, because it also posted its 28th consecutive quarter of double digit growth in earnings per share. 

Diluted earnings per share increased 23.2% to $10.42 per share from $8.46 per share in the year-ago quarter. Moreover, net sales were $3.1 billion for the quarter, a 12% jump from the same quarter last year. 

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Columbus, Ohio – Big Lots, Inc. has joined the National Association of Corporate Directors (NACD) as full board members.

"We are honored to join the distinguished and diverse group of directors who comprise NACD's full board members," said Philip E. Mallott, chairman of the board at Big Lots. "The resources, insights, and connections NACD offers will be valuable assets to our company as we continue to strengthen our corporate governance practices."

nGage Labs, a leading provider of in-store shopper engagement solutions for retailers, has appointed Kelly Gibson as the company’s director of retail engagement solutions.

Deerfield Park, Ill. – The Walgreen Company won a North American Innovation in Loyalty Marketing award at the recent Colloquy Loyalty Awards. The award recognized Walgreens’ achievements with its Balance Rewards program.

Colloquy cited achievements such as obtaining 72 million members between its September 2012 launch and May 2013, as well as producing a year-over-year sales increase of 4.3% and year-over-year average basket size increase of 4.7% in May 2013.