eCommerce

Chico’s FAS Inc. has revealed plans to close more stores, cut jobs and decrease its capital spending to $100 million for fiscal 2015, a 29% decrease to its three-year average.

San Mateo, Calif. – Almost half (48%) of consumers say they purchase more from retailers that leverage shopper interests and buying behavior to personalize the customer experience across all channels.

Kohl’s is joining the army of retailers focusing on the high-margin beauty category by adding an upscale skin-care brand to its assortment.

Toronto – Sears Canada Inc. swung from profit to loss in a dismal fourth quarter of fiscal 2014. The retailer reported a net loss of $123.6 million in the fourth quarter of fiscal 2014, compared to net income of $373.7 million in the same period a year earlier.

The net loss included a pre-tax asset impairment charge of $99.3 million related to leasehold improvements in full-line and Hometown stores, and intangible assets. In addition, the net income a year earlier included several one-time tax gains, real estate sales and legal settlements.

Minneapolis -- Target on Wednesday reported a net loss of $2.6 billion (pre-tax loss of $5.1 billion) in its fourth quarter due to the impact of its exit from Canada, compared to a $520 million gain year-ago period. However, the chain’s adjusted earnings came in at $1.50 per share, beating Wall Street estimates of $1.46 per share.

Target’s sales increased 4.1% to $21.8 billion, also better than expected, on increased store traffic and online growth. It was the chain’s best sales growth in three years.

Hudson’s Bay Company is forming two joint ventures valued at $4 billion as it aims to bring even more value its lucrative property portfolio. 

Waban, Mass. – In a sign that retailer efforts to enhance customer service may be working, few consumers report having a bad experience with a retailer in the past six months. According to a new Temkin Group report, “What Happens After a Good or Bad Experience, 2015,” only 4% of consumers report having a bad experience with a retailer.

Six retailers are at a 1% reporting level for bad customer experience: True Value, Costco, Bed Bath & Beyond, Ace Hardware, Gap, and Staples.

It’s no wonder Macy’s is looking to allocate part of its $1 billion capital expenditure budget into opening off-price stores when you look at the financial results TJX Co. reported for the fourth quarter.

The company reported an 11% increase in profit for the quarter ended Jan. 31. Net sales for the fourth quarter were $8.3 billion, a 6% increase over last year. Same store sales increased 4% over last year’s 3% increase. Net income was $648 million and diluted earnings per share were $.93, a 15% increase over last year’s $.81 per share.