eCommerce

Never underestimate the creativity of unscrupulous customers is the key takeaway for all retailers following Walmart’s effort to implement a liberal price match policy this week.

Seattle - Colliers International released the highlights of its latest global retail report – examining 125 retail real estate markets in 50 countries – and found that luxury retail continues to show strong growth in the top global markets and prime cities in Asia.   

As the NBA season gets fully under way, specialty retailer Lids is looking to capitalize on fan excitement by offering customizable and personalized NBA apparel and headwear for the first time ever.  

Shoppers will be able to customize the new Adidas NBA Swingman jersey with the name and number of any NBA player, or personalize the jersey with their own name and number in more than 70 Lids stores nationwide. Player-customization or personalization of NBA team logo Adidas and Mitchell & Ness headwear will also be an option in more than 800 U.S. Lids stores.  

Nashville - Kirkland’s Inc. reported net income of $1.3 million in the third quarter of fiscal 2014, a 30% increase from $1 million the same quarter in the previous fiscal year. Higher gross profit helped boost net income.   The retailer beat Wall Street expectations with net income as well as with net sales of $117.2 million, up 10% from $106.1 million.  

Secaucus, N.J. – The Children’s Place Inc. has named Anurup Pruthi as senior VP and CFO, effective Dec. 1, 2014. He will report to Michael Scarpa, COO.  

Columbus, Ohio – L Brands Inc. beat Wall Street projections with net income of $131.8 million during the third quarter of fiscal 2014, up 43% from $91.99 million the same period the prior fiscal year. A boost in pretax income helped drive L Brands’ impressive profit growth.   Net sales rose 7% to $2.32 billion from $2.17 billion, and same-store sales increased 5%. 

As the popularity of the Rainbow Loom waned this year so did sales at Michaels where third quarter comps declined 0.8% compared to the prior year.

Worthington, Ohio - Amazon and Nordstrom shoppers plan to increase their holiday spending the most compared to other shoppers, according to a survey by Prosper Insights & Analytics.  The report, “Holiday 2014: Retailers to Watch,”  finds that while overall holiday spending plans are up this holiday season, shoppers will still be looking for sales and big discounts and spending only what they have to, making waves for retailers to navigate this year.