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Retail

  • 99 Cents Only profits plummet in Q1

    City of Commerce, Calif. — A sharp increase in selling, general and administrative (SG&A) expenses drove an 88% drop in net income at 99 Cents Only Stores Inc. to $1.17 billion in the first quarter of fiscal 2016 from $9.57 billion the same quarter the prior fiscal year.

    The profit plummet came as total sales rose 6% to $506.17 million from $477.9 million. Same-store sales declined 1.7%, primarily due to lower customer traffic.

  • Multidev integrates ChainDrive platform with e-commerce channels

    Montreal, Canada — Multidev Technologies Inc., a developer of ERP and omnichannel solutions for retailers, is adding web marketplace integration to its ChainDrive enterprise retail management platform. Users will be able to market, promote and sell their products through e-commerce channels including Amazon, eBay, Rakuten, and Newegg.
     

  • Two retailers ‘making’ moves with the White House

    Etsy and the West Elm division of Williams-Sonoma continue to fuel the maker movement with new initiatives that were launched to coincide with a Presidential Proclamation establishing the National Week of Making.

    In conjunction with an event at the White House and a proclamation by President Barack Obama, online retailer Etsy said it planned to expand its Craft Entrepreneurship program to 30 cities by July 2016 from the current 19 cities.

  • Same store sales grow 2.2% at Neiman Marcus

    <The Neiman Marcus Group says currency exchange rates put pressure on traffic in the first quarter as the company reported a smaller than expected boost in same store sales. 

    The retailer said same store sales increased 2.2% for the third quarter ended May 2 as the strong dollar had some impact on the retailer’s business.

  • Report: Kmart hires new marketing chief

    Kmart has overhauled its marketing team by making several personnel changes and replacing its CMO with a veteran from DSW.

    According to Ad Age, the company has named Kelly Cook as its new chief marketing officer after Mark Andeer left the company.

    Cook will be leading the company's "omnichannel transformation," according to Ad Age.

    Read more by clicking here.

  • Men’s Wearhouse to open 300 tuxedo shops in Macy’s

    Fremont, Calif. — Men's Wearhouse on Thursday announced it had signed a 10-year agreement with Macy's to operate men's tuxedo rental shops inside 300 Macy’s locations. The shops are expected to be located in or near the men’s department.

    Men's Wearhouse will begin operating 17 pilot tuxedo shops in fall 2015,  and expects the remaining shops to be open by fall 2016. Macy's and Men's Wearhouse will also collaborate to develop a digital tuxedo rental shop on macys.com.

  • Lululemon opens way for founder Chip Wilson to sell stake New York

    New York — Chip Wilson, the controversial founder of Lululemon Athletic Inc., may well be on the verge of selling his stake in the company, according to numerous reports.    Lululemon, based in Vancouver,  British Columbia, filed a 20.1 million share offering with the U.S. Securities and Exchange Commission, allowing Wilson and his wife to exit their roughly 14% stake. The couple's stake in the company was worth about $1.34 billion, Reuters reported.  

  • U.K. self-serve coffee retailer leverages Watson Analytics

    London, U.K. — Honest Cafe, an automated coffee house chain in London, is using IBM Watson Analytics to unearth client insights to help determine everything from coffee products and pricing, to marketing and promotions. Honest Cafe is a new venture from Revive Vending where three cafes currently in operation, and four more planned, are all unmanned.

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