eCommerce

Discount retailing has undergone a major transformation in recent years

Toward the end of 2008, it became painstakingly obvious to retailers that impulse spending was out and frugal saving was in. Faced with an imminent recession, staggering job loss and quickly depleting discretionary and savings accounts, consumers began to shift their focus to value. The impact of such a large-scale economic event and an abrupt consumer focus shift would appear to alter the fundamental realities of retail.

Lifetime Brands, a leading global provider of branded kitchenware, tableware and other products used in the home, is seeing the results of its aggressive growth strategy — which included the acquisition of four businesses during the period — in the first quarter ended March 31.

Consolidated net sales for the quarter were $118.4 million, soaring 20% from $98.7 million for the corresponding period in 2013.

In an era of Big Data, retailers are finding new ways to leverage that information to improve processes and consumer engagement. However, there’s one area where Big Data can have a big impact that companies in the retail space may be missing: real estate.

Mark Ledbetter, global VP retail strategy for SAP, recently spoke with Chain Store Age about the promise of Big Data for retail real estate, and how retailers can best take advantage of it.

Where does retail real estate data originate?

Kansas City, Kansas — Legends Outlets Kansas City — in Kansas City, Kansas — has announced the addition of three new tenants: Woody’s Automotive, Nail Envy and Bath & Body Works. Each plans to open in this spring.

Woody’s Automotive, a used car concept, will open on May 8 in a 507-sq.-ft. space next to Panera Bread.

Nail Envy, plans to open May 14 in the adjoining shopping center across from Yard House. The salon and spa will occupy a 3,000-sq.-ft. space next to Payless ShoeSource.

Seattle – Blue Nile Inc. reported increases in net income and sales during the first quarter of 2014, compared to the same period in the prior year. Net income rose 30% to $1.07 billion, from $832 million.

Net sales increased 6.8% to $103.7 million, compared to $97.1 million. Looking ahead, Blue Nile expects net sales between $108 and $113 million during the second quarter of fiscal 2014 and net sales between $485 and $510 million for fiscal 2014.

St. Louis -- Build-A-Bear Workshop Inc. reported a better-than-expected profit of $5.03 million for the first quarter, up from $13,000 a year before.

The company posted total revenue of $97.9 million, slightly below analysts expectations of $98.7 million, down from $ 104.3 million in first quarter 2013.

During the quarter, the company closed seven stores, ending the period with 316 company-owned stores.

There is no substitute for a strong brand — whatever the sales channel. That’s the basic underlying premise of Interbrand’s annual “Best Retail Brands” report, which ranks the top 50 North American and international retailers by brand value. It’s a premise worth keeping in mind amid all the online versus offline talk. As Interbrand global CEO Jez Frampton puts it: “In the end, it is the brand, not the footprint, that will endure.”

Despite what president and CEO Ajay Banga called a “mixed global economy,” MasterCard Incorporated kicked off the year with a strong quarter.

The company reported net income of $870 million, up 14%, and earnings per diluted share of $0.73, up 18%, in each case versus the year-ago period.