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Macy’s and Kohl’s post disappointing results in June
New York -- Analysts expected 18 top retail chains to report a modest gains in June, as high unemployment and falling consumer confidence have taken a toll on spending.
Among the department store retailers reporting June same-store results so far, the results were largely mixed. Macy’s was among the retailers reporting sales that fell short of estimates. Same-store sales rose 1.2% in June, missing Wall Street’s projected 1.9% gain.
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Tech Notes
The customer experience is fueling IT spending like never before. That was my main takeaway from Oracle Retail CrossTalk 2012, which was held June 26 -28, in Chicago. The following are some insights and observations from a few of the speakers at the event.
Gary Penn, VP e-commerce, Quiksilver:
“Handheld traffic is growing exponentially, and so is the revenue. You have to address it. If you don’t, you are leaving a good part of your audience out in the cold.”