eCommerce

Seattle – Texas is known for its wide open spaces, and Amazon.com Inc. is slowly filling them in with distribution centers. Amazon plans to open a fifth Texas fulfillment center in San Marcos.

Amazon employees at the 855,000 sq.-ft. San Marcos fulfillment center will pick, pack, and ship smaller customer items, such as books, electronics and toys.

Cyber security professionals have somewhat resigned themselves to the fact that data breaches are inevitable and placed an emphasis on how to manage a highly fluid situation.

After last year’s large retail data breaches, the industry has doubled-down on efforts to protect customer records. Most retailers now have data breach response teams in place and leaders have called for increased industry collaboration on cybersecurity. However, the threats continue to evolve and effectively managing security incidents requires constant evaluation.

Thanks to some financial engineering, Sears Holdings overcame a double digit decline in same store sales to produce a second quarter profit or a less severe loss depending on the arithmetic used.

York, Penn. – The Bon-Ton Stores Inc. saw its net loss grow to $39.6 million from $36.2 million in a difficult second quarter of fiscal 2015. An early mortgage termination led to the increased loss.
Unseasonably cool weather and shrinking traffic drove net sales down 1% to $555.4 million from $563.5 million. Same-store sales fell 0.2%, although e-commerce sales grew in the double digits.  

Seattle — Nordstrom Inc. is entering the haute couture space with the introduction of SPACE, a new shop curated by Olivia Kim, director of creative projects. SPACE will offer products from emerging and advanced designers.

On the heels of announcing accelerated plans for expansion in the Northeast and Midwest, Stein Mart has reported impressive sales results for the second quarter.

The Florida-based off-price retailer reported net income of $4.1 million, up 58% from $1.7 million the prior year quarter. Sa,e store sales rose by 3%. Net sales rose 4% to $311.58 million from $298.16 million.

L Brands Inc. continues to elude the troubles that have plagued other mall retailers, as the company reported a spike in same store sales.

The parent company of Bath and Body Works and Victoria's Secret said earnings per share for the second quarter ended Aug. 1 increased 8% to 68 cents compared to 63 cents for the quarter ended Aug. 2, 2014. Net income was $202.5 million compared to $188.4 million last year. Same store sales increased 4%.

Jacksonville, Fla. — Profit almost doubled at Stein Mart Inc. during the second quarter of fiscal 2015. Stein Mart reported net income of $4.1 million, up 58% from $1.7 million the prior year quarter.

A slow pace of growth in cost of merchandise sold and essentially flat selling, general and administrative (SG&A) expenses helped drive strong profit growth. Net sales rose 4% to $311.58 million from $298.16 million.