Department Store

Union, N.J. – Bed, Bath & Beyond Inc. missed Wall Street expectations with its fourth quarter 2014 profit and sales results. In addition, the company indicated that it may join Walmart and other retailers in raising wages for employees.

During the fourth quarter, Bed, Bath & Beyond reported net earnings of $321.1 million, down 4% from $333.3 million a year earlier. Higher cost of sales and selling, general and administrative (SG&A) expenses helped drive down earnings.

Amazon’s Prime membership is starting to crowd out traditional retailers like Walmart and Target, according to Forbes.

The magazine reports that research consultant Millward Brown Digital found that consumers with Prime accounts –- of which there are reportedly 40 million subscribers –- are less likely to visit other retail sites when making online purchases.

Bed Bath & Beyond indicated in its fourth quarter earnings report that it may be joining Walmart and other retailers with plans to increase wages.

The company said it is lowering its 2015 earnings guidance due to "an increase in investments in compensation and benefits in 2015 beyond those historically planned."

New York -- Brand consultancy Interbrand has come up with a fascination list of “must sees,” or 10 inspiring retail experiences (as of April 2015).
 
Here are the company’s picks:

• Selfridges, London

• Dover Street Market, London and New York

Japanese retailer Uniqlo's U.S. expansion is picking up speed as the company prepares to open its first-ever stores in the Seattle, Denver and Washington, D.C.

Chicago -- ShopperTrak, a leading provider of consumer behavior insights and location-based analytics, is teaming up with the shopping app, shopkick, to deliver in-store beacon and analytics technologies that allow retailers to engage with shoppers throughout their time in the store and deliver an enhanced shopping experience.
 

In a column I wrote between Black Friday and Christmas last year, I talked about how “apparel sales have been languishing”, and I mentioned that the “industry buzz is all about the struggles in apparel, where retailers just can’t seem to discount clothing enough to get things to pick up.”

New York -- The United States is the top market for e-commerce, followed by China and the United Kingdom, according to A.T. Kearney’s 2015 Global Retail E-Commerce Index. Although e-commerce remains less than 10% of total retail sales in the United Sates, it has seen consistent growth, and rose by 15% in 2014.