eCommerce

Amazon.com’s sales growth in the first quarter continued to outpace the overall e-commerce growth rate, especially Web services, but expenses related to interest and currency exchange caused the online leader to report a $57 million net loss.

Total sales for the quarter ended March 31 increased 15% to $22.72 billion but a strengthening of the U.S. Dollar caused a $1.3 billion currency exchange headwind. On a constant currency basis, which is how global retailers like to analyze their business, sales increased 22%.

New York -- A major new credit agreement has been secured by the 262 store Hancock Fabric chain with Wells Fargo Capital and the newly formed Great American Capital Partners subsidiary of B. Riley Financial.

The new financing deal, executed a year and a half before an existing credit facility was due to expire, provides the struggling Hancock Fabric chain with a new five year, $100 million asset-backed credit facility from Wells Fargo and a $17.5 million term loan from Great American.

Sidney, Neb. -- Cabela's Inc. saw profit rise 6.9% to $27.5 million in the first quarter, topping Wall Street expectations. Revenue of $827.1 million, a 14% increase, also exceeded Street forecasts.

By segment, retail store revenue increased 18.9% to $524.4 million; direct revenue decreased 3.3% to $173.5 million; and Financial Services revenue increased 24.7% to $122.9 million.

During the period, consolidated same-store sales decreased 1.3%.

Volatile demand for firearms seems to be easing at Cabela’s, which reported a profit rise of 6.9% in the first quarter despite a drop in same store sales.

Louisville, Colo. -- Ace Hardware is America’s favorite home improvement store and Costco is the favorite for home furnishings, according to a new nationwide survey by Market Force Information. The findings are based on consumers’ satisfaction levels and their likelihood to recommend the retailer to others.

In the home improvement sector, Ace Hardware earned the top spot with a composite loyalty score of 61% (out of a potential 70%). Menards came in second, at 50%, followed by Lowe’s, Home Depot and Walmart.

What’s wrong with the retail Industry? Corporate Responsibility Magazine is out with the 2015 version of its 100 Best Corporate Citizens and only three, that’s right, only three retailers were worthy of inclusion on the list.

Framingham, Mass. – Bernard Cammarata, 75, founder and chairman of The TJX Companies Inc., will retire June 11, 2015 after nearly 40 years with the company. Carol Meyrowitz, 61, who has served as CEO of TJX since January 2007, been a board director since 2006 and joined the company in 1983, will succeed him as chairman.

San Jose, Calif. – eBay Inc. topped Wall Street expectations for both profit and revenue in the first quarter of fiscal 2015. Growth in transactions and efforts to control expenses helped produce net income of $626 million, compared to a net loss of $2.33 billion the same quarter a year earlier.