Department Store

By Mike Moriarty, A.T. Kearney

Well, well, well. Amazon is opening a store.  Isn’t that nice!

Now, does that make the company an enormous on-line retailer with “a store”, or does it make Amazon a small to mid-sized retailer with an enormous online presence?

It almost doesn’t make any difference — and that in itself makes a difference. Welcome to planet Earth, Amazon!

Toys“R”Us has appointed Michael Melzer as managing director, Central Europe. He will be responsible for the company’s business operations throughout Germany, Austria and Switzerland, including 91 stores and four e-commerce sites, as well as the approximately 2,200 employees in these countries, and report to Wolfgang Link, president, Europe.

New York -- One-quarter (25%) of U.S. consumers plans to spend more on holiday shopping this year up from 20% in 2013, and spending on holiday gifts is expected to average $718, according to Accenture’s annual holiday shopping survey.

The survey also found consumer enthusiasm for Black Friday shopping has reached its highest level in eight years. Two-thirds of respondents (66%) said they are likely to shop on Black Friday, compared to 55% who planned to do so in 2013.

Texas and the Carolinas drove the strongest sales at Stein Mart in September, while California, Arizona and the Northeast performed lower than the chain.

The company reported total sales for the five-week period ended Oct. 4 of $119.4 million, a 6.5% increase over total sales of $112.2 million for the prior-year period. Comparable store sales increased 4.9%.

Year-to-date total sales increased 3.1% to $832.9 million from $807.8 million for the prior-year period. Comparable store sales increased 2.4%.

New York -- The International Council of Shopping Centers forecasts a 4.0% increase in sales during the November-December holiday shopping period, the strongest gain in three years, amid positive economic signals. Total holiday shopping sales at shopping centers is estimated to be $488.6 billion in the same period.

New York -- Apparel retailers reported modest sales growth for the month of September, fueled by back-to-school spending early in the month.

Following September sales that were above its guidance, Cato Corporation is increasing its third-quarter guidance.

The company reported sales of $79.7 million for the five weeks ended Oct. 4, a 9% increase over sales of $72.9 million for the five weeks ended Oct. 5, 2013. Same-store sales for the five-week period increased 5% from the prior year.

Sales for the 35 weeks ended Oct. 4 were $669.5 million, up 7% from the same period last year. The company's year-to-date same-store sales increased 4% from the prior year.