eCommerce

SARASOTA, Fla. — Saks Fifth Avenue has revealed more details about its new two-level, 80,000 sq. ft. store in The Mall at University Town Center in Sarasota, Fla., which is presently under construction at the intersection of I-75 and University Parkway. The Mall at University Town Center is being co-developed by Taubman Centers and Benderson Development and is scheduled to open Oct. 16, 2014.

Lowe’s is competing in the price wars -- especially with Internet retailers -- by using the merchant mind-set of “dead net pricing.” 

Speaking at the UBS Global Consumer Conference Wednesday, Lowe’s CEO Robert Niblock described his company’s improvements in the price wars.

SAN LUIS OBISPO, Calif. — Shopatron, a provider of cloud-based, e-commerce order management solutions, has launched its allied commerce initiative – the next wave of its broad market expansion on the heels of a $4 million venture debt financing it completed in December 2012. 

The physical store remains the centerpiece of the purchase journey, according to a study by PwC. The report, "Demystifying the Online Shopper," addresses myths about multichannel retailing and offers some ideas to help retailers keep up with their customers. Here's a recap:

Is it just me, or does it seem like the past two months or so have seen an unusually high level of turnover at the top? It's gotten so that you need a scorecard to keep up with all the comings and goings, as chief executives are forced out, jump ship, retire or move on.

This year's changing of the guard is bittersweet because it includes the retirement of two veteran retailers, Steve Burd of Safeway and Maxine Clark of Build-A-Bear Workshop.

Mergers and acquisitions transaction activity in the U.S. retail sector jumped 39% in 2012 for deals greater than $50 million, while total deal value more than doubled. These gains point to an industry undergoing major changes, one that is attracting considerable interest from a wide range of players.

Lynwood, Wash. -- Zumiez Inc. said Thursday its fiscal fourth quarter net income rose 22.1% to $22.9 million on improved sales.

Revenue for the quarter, ended Feb.2, (14 weeks) increased to $224.4 million from $183.9 million in the year-ago period (13 weeks). Same-store sales fell 1%.

Zumiez said it plans to open about 60 new stores in the current fiscal year, including up to 10 stores in Canada and six stores in Europe.

New York -- Swedish fast-fashion powerhouse H&M is revving up its U.S. expansion. The retailer opened 40 stores in the United States in 2012, and hopes to open even more this year, according to a report in Women’s Wear Daily.

H&M, as previously reported, will open a 42,500-sq.-ft. flagship at 4 Times Square, in Manhattan, that will boost an enormous LED billboard signage display. The retailer will also open a store on Fifth Avenue at 48th Street that, at 57,000 sq.-ft., will be its largest in the world to date.

Birmingham, Ala. -- Hibbett Sports reported that net income for its fiscal fourth quarter increased a better-than-expected 22.3% to $19.4 million, compared with $15.8 million for the same period last year.

Net sales for the fourth quarter increased 14% to $217.4 million from $190.7 million in the year ago period. Same-store sales increased 4.9%.

Looking ahead, in its current fiscal year, the company expects to open 65 to 70 new stores, expand approximately 18 high-performing stores and close 15 to 20 stores.

New York -- Aeropostale Inc. reported an unexpected loss for its fourth quarter, hurt by declining same-store sales and store asset impairment charges. The teen apparel chain also forecast a loss for the current quarter, citing markdowns and a weak economy.

"We anticipate a challenging first quarter as a result of expected margin pressures from holiday carryover inventory, and the impact of a weak macroeconomic environment,” said Aeropostale CEO Thomas Johnson.