eCommerce

Fouth quarter same store sales fell by a jaw-dropping 31.7% at J.C. Penney, but CEO Ron Johnson insisted the company continues to make great strides with its one year old transformation strategy.

The company report an adjusted net loss for the quarter of $427 million, or $1.95 a share and a full year adjusted net loss of $766 million or $3.49 a share.

Columbus, Ohio -- A Wednesday report by Bloomberg said that Limited Brands’ Victoria’s Secret banner would open its first stores in Hong Kong this year.

On the boards are two 1,500-sq.-ft. Victoria’s Secret shops at the International Finance Centre in the Central business district and at New Town Plaza. Bloomberg cited an emailed statement by Limited spokesperson Robin Hoffman.

Davenport, Iowa -- Von Maur Department Stores announced Wednesday it has signed a contract to open a 150,000-sq.-ft. store at the GGP-owned Quail Springs Mall in Oklahoma City in fall 2014.

The store will be the company's first location in Oklahoma.

Whiting, Ind. -- Research released Wednesday by CouponCabin.com showed that more than half of U.S. adults’ online shopping habits won’t be impacted by rising shipping costs.

According to the survey, conducted by Harris Interactive for CouponCabin.com, 51% of those polled said they are neither more or less likely to shop online, even with potentially increasing shipping costs. An additional 7% said they are more likely to shop online.

Chicago -- Englewood Construction announced Wednesday that its retail group has begun work on four new projects, including three in the Chicago market and one in Columbus, Ohio.
 

Plano, Texas -- There were no signs of relief for J.C. Penney Co. in the fourth quarter as the company reported a wider-than-expected net loss of $552 million, compared with a loss of $87 million in the year-ago period. The chain did not issue guidance, but did announce would open nearly 20 home-centered shops with different brand partners in 550 stores the spring.

Framingham, Mass. -- The TJX Cos. reported Wednesday a profit of $604.8 million for the quarter ended Feb. 2, compared with $475.3 million in the year-ago period. Despite the strong showing, TJX forecast a slowed growth pace for the new fiscal year and issued a profit forecast below analysts’ expectations. And joining many other retailers, the company announced that beginning with the fiscal 2014 second quarter, it will no longer report monthly sales.

Waban, Mass. -- Survey results released Wednesday by Temkin Group revealed that Publix and Trader Joe’s ranked the highest among 246 companies in terms of customer experience.

The 2013 Temkin Experience Ratings, which polled 10,000 U.S. consumers, were dominated by grocery chains and food purveyors. After Public and Trader Joe’s was Aldi, and rounding out the top 12 were Chick-fil-A, Amazon.com, Sam's Club, H.E.B., Dunkin' Donuts, Save-a-Lot, Sonic Drive-In, Little Caeser's and Ace Hardware.

Minneapolis -- Target Corp. reported Wednesday a profit of $961 million for the fourth quarter, down from $981 million in the year-ago period. The profit slip reflected expenses related to its Canadian market entry along with a spending slowdown during the holiday sales period. It was Target's weakest holiday season performance since 2008. But its adjusted results beat analysts' estimates and it forecast first-quarter earnings above Wall Street's view.

By Sandy Skrovan, U.S. research director, Planet Retail