eCommerce

PHILADELPHIA — Urban Outfitters, which caters to a clientele with a unique and forward-looking approach to fashion and lifestyle merchandise, missed the mark during the second quarter, reporting a 21% profit decline and a same-store sales slip of 2%.

The company reported that earnings for the quarter were $56.7 million compared $71.7 million a year earlier. The company blamed increased expenses related to investments in e-commerce, retail catalogs and technology for the performance slip.

New York City -- Nordstrom announced Monday that its new Treasure&Bond concept will open in SoHo on Friday, according to a report by the New York Times. The boutique-style store, which represents a new market entry for Nordstrom, will be a fraction of the size of a typical Nordstrom department store and all profits will be donated to charity. Merchandise is funkier, but is not discount like its Nordstrom Rack sister. 

BENTONVILLE, Ark. — Despite the absence of top line growth at Walmart’s U.S. stores division, second quarter earnings grew 12.4% to $1.09 and came in a penny ahead of analysts’ estimates, which was enough for the company to narrow and increase the range of its full year profit forecast.

Philadelphia -- Urban Outfitters reported Monday that profit for the quarter ended July 31 dropped 21% to $56.7 million, from $71.7 million a year earlier. The company blamed increased expenses related to investments in e-commerce, retail catalogs and technology for the performance slip.

The operator of Urban Outfitters, Anthropologie, Free People and Terrain clothing stores saw revenue rise 10% to $609.2 million, beating analysts’ expected $604.1 million.

Same-store sales slipped 2%.

 

Pittsburgh -- Dick's Sporting Goods reported Tuesday that net income for the quarter ended July 30 rose 43% to $73.8 million, compared with $51.5 million in the year-ago period.

Revenue rose 7% to $1.31 billion from $1.23 billion. Same-store sales increased 2.5%.
 

ARLINGTON, Va. — More than one-quarter of U.S. retailers lack a mobile presence, according to new research conducted by 2ergo.

Based on data collected from 161 retailers across six categories, 2ergo found that only 58% of retailers have not optimized a mobile website and just half of them are offering consumers one smartphone application for either Android, Blackberry or iPhone devices. Among them, 7% of these top retailers have launched applications for all three platforms, 2ergo noted.

Target has a lot of things going right for it right now with some decent sales momentum and a mix of current and long term initiatives to drive growth. Even so, Target is in the same boat as other retailers who are posting solid profits, but doing so in an uncertain economic climate where fragile consumer confidence makes it hard to get to aggressive when it comes to forecasting future performance.

By Mac Nadel, [email protected]