eCommerce

Boston – Wayfair reported $915 million in revenue to close the year 2013, with an annual revenue growth rate of 55% and order intake exceeding $1 billion. The company said its portfolio of home brands experienced steady growth throughout 2013 capped off by strong holiday sales in the fourth quarter.

New York -- In a study of the returns and refunds performance of the 25 largest online retailers, StellaService found that the majority of retailers evaluated aren’t meeting consumer expectations.

StellaService analysts ordered the same product from each retailer to be delivered to the three separate regions of East, West and Midwest. They then returned the product, tracking metrics such as the presence of a prepaid, adhesive return label, total time to receive a return authorization and refund speed. The average refund speed of was 10.7 days.

Pet360, a leading network of digital resources for pet owners, has appointed Jon Roska as VP of strategic partner development.

In this role, Roska will oversee the development and execution of strategic programs that help brands connect with pet owners in new ways. Roska founded the company's longest-standing Web property — PetFoodDirect.com — in 1997 and most recently served as Pet360's VP of merchandising.

Anna’s Linens has elevated company president Scott Gladstone to CEO. The home furnishings and home décor retailer was founded by Alan Gladstone, and now has more than 300 stores throughout 19 states.

“Scott has spent the last eight years at Anna’s bringing innovation and business improvements to many different areas of the company. I am proud of what we have done together and have absolute confidence that he is the person who can lead us in writing the next chapter of Anna’s history,” said Alan Gladstone.

When it comes to meeting consumer expectations, the stakes for retailers have never been higher. Digital age consumers are more discerning, have high expectations for the quality of product information and use technology in a variety of ways to make educated purchasing decisions. They use search engines to get more information about a product or brand. They comparison-shop online. They visit manufacturers’ websites. They read online endorsements, reviews and recommendations.

Tuesday Morning is starting to see the results of its turnaround strategy, which involved the company exiting a number of non-core categories, such as women’s apparel and footwear.

In the second quarter of fiscal 2014, comparable sales in ongoing core categories increased 7% and were led by exceptional strength in furniture, up 57%; sheets and linens, up 23%; and home décor, up 20%.   

In a study of the returns and refunds performance of the 25 largest online retailers, StellaService found that the majority of retailers evaluated aren’t meeting consumer expectations.

StellaService analysts ordered the same product from each retailer to be delivered to the three separate regions of East, West and Midwest. They then returned the product, tracking metrics such as the presence of a prepaid, adhesive return label, total time to receive a return authorization and refund speed. The average refund speed of was 10.7 days.

Salt Lake City – Overstock.com reported substantial increases in net income during the full year and fourth quarter 2013. During the full fiscal year, net income jumped 503% to $88.5 million from $14.7 million the prior fiscal year.

During the fourth quarter, net income rose an ever larger 737% to $73.6 million from $8.8 million. Revenue increased 19% during the full fiscal year to $1.3 billion from $1.09 billion, and grew 16% to $397.6 million from $342 million during the fourth quarter.

Philadelphia – Destination Maternity reported improved net income but lower net sales during the first quarter of fiscal 2014 as compared to the same period a year earlier. Net income totaled $4.25 million, up 11% from $3.84 million the same period a year earlier.

Seattle – Amazon.com reportedly plans to provide Kindle-based checkout for brick-and-mortar retailers, possibly as soon as summer 2014. According to the Wall Street Journal, sources who have been briefed said Amazon is considering offering retailers free Kindle hardware, as well as providing data analysis and site development services.