eCommerce

Phoenix – PetSmart Inc. posted a 1.3% increase in net income during the first quarter of fiscal 2014, rising to $104 million from $102 million in the first quarter of the prior year. Net sales increased 1.1% to $1.7 billion, but same-store sales missed Wall Street expectations by falling 0.6%.

PetSmart cited a challenging and volatile consumer environment and a competitive market as contributing to its weaker-than-anticipated same-store sales results.

Framingham, Mass. – Staples Inc. attributed a 44% drop in net earnings during the first quarter of fiscal 2014 to lower sales caused by store closures and a rise in the value of the dollar. Net earnings of $96 million were 44% below net earnings of $170 million reported a year earlier.

New York - Nearly a quarter of packages purchased online and tested during a six-month period did not meet the basics for adequate shipping. In a study spanning six months of data, conducted from October 2013 to March 2014, StellaService Analysts placed 2,855 orders with 125 leading online retailers to measure the quality of the shipping and returns experience.

Washington, D.C. – Organized retail crime (ORC) is down slightly from 2013 but still a pervasive problem. According to the National Retail Federation’s 10th annual Organized Retail Crime Survey, which polled 76 senior retail loss prevention executives, eight-in-10 (88.2%) retailers report that they have been a victim of ORC in the past year, down slightly from 93.5% in 2013.

Pittsburgh – Dick’s Sporting Goods Inc. reported healthy net income and sales growth during the first quarter of fiscal 2014, compared to the same period a year earlier. Net income rose 8% to $69.98 million from $64.82 million, while net sales increased 8% to $1.44 billion from $1.33 billion.

Bentonville, Ark. – Wal-Mart Stores Inc. plans to open 30 new China-based stores and remodel 55 of its 400 existing stores there during 2014, as well as open new China distribution centers. The China activity is part of Wal-Mart’s larger three-year plan for growth in the country.

Wal-Mart will spend $93 million on the store remodeling. The activity this year will be the first major initiative from new China CEO Sean Clarke.

New York – J. Crew is reportedly planning to expand into Asia. According to the Wall Street Journal, J. Crew will open two new stores in Hong Kong on May 21.

The Hong Kong stores will be J. Crew’s first Asian stores since it closed its stores in Japan in 2008. In 2012, J. Crew said it planned to open stores in Hong Kong, and the U.K., and opened three U.K. stores in 2013. The retailer plans to open five or six stores in Hong Kong in the next few years, and may also open new stores in Japan.

By Kris Bjorson and Lew Kornberg, Head of Retail Tenant Representation at Jones Lang LaSalle