eCommerce

Advance Auto Parts announced plans to open its 4,000th store on Friday, one day after reporting disappointing sales at its 3,999 locations.

Total sales for the second quarter increased 6.1% to $1.55 billion due largely to the addition of 175 new locations. However, same store sales declined 0.3% on top of a prior year decline of 2.7%.

Global fragrance leader Elizabeth Arden cited curtailed orders at a mass market customer as a factor in its weaker-than-expected full year financial results, and the finger was quickly pointed at Walmart.

By Ted Vaughan, [email protected]

The year 2012 was the best year for retail IPOs since 2002 — S&P Capital IQ reported seven offerings for the year — and when we released our 2013 IPO Outlook Study earlier this year, 30% of capital markets executives expected initial public offerings (IPOs) in the retail and consumer products space to continue to grow in 2013. Now that we’re well into the second half of the year, how have those expectations fared?

New York – Law firm Morgan & Morgan is investigating potential legal claims against the board of directors of Saks Inc. relating to the proposed acquisition of Saks by Hudson's Bay Company. Morgan & Morgan's investigation concerns whether Saks' board of directors breached its fiduciary duties to act in the best interests of Saks' shareholders and to take all necessary steps to ensure that Saks' shareholders receive the maximum value readily available for their shares of Saks common stock.

ISSAQUAH, Wash. — Costco Wholesale Corporation reported net sales of $7.87 billion for the month of July, the four weeks ended August 4, an increase of 7% from $7.36 billion during the similar period last year.

For the 48 weeks ended August 4, the company reported net sales of $94.91 billion, an increase of 8% from $87.7 billion during the similar period last year.

New York – Despite a slowdown in U.S. retail and consumer merger & acquisition (M&A) activity in second quarter 2013, consumer sentiment and retail sales trends remain positive, along with strong corporate balance sheets and availability of private equity "dry powder," which should help trigger M&A activity during the second half of 2013, according to PwC's U.S. retail and consumer deals insights second quarter 2013 report.

Fort Worth, Texas — Buxton has announced the roll out of a full suite of retail market analyses in the Canadian marketplace. The company noted that the Canadian retail market has become extremely competitive and will likely see massive retail growth over the next few years. As a new concentration for Buxton, the effort will focus on both U.S. retailers expanding into Canada, and Canadian organizations looking to maximize their footprint in the market.

New York – As a result of slumping net and same-store sales, Aeropostale is forecasting a net loss per share of between 42 cents and 44 cents during the second fiscal quarter of this year, which is 19 cents higher than the previously issued guidance. The revised estimate is based on a 6% decrease in net sales to $454 million, from $485.3 million in the year ago period.